student debt

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Christian School to Grads: We'll Help Pay Your Loans

Spring Arbor grads must work at least 30 hours per week to qualify

(Newser) - If you can't afford to repay your student loans, Yale will sue you . But Spring Arbor University, a small private school in central Michigan, has a kinder, gentler approach. If a grad cannot find a job that pays well enough, the Christian university promises to help pay off that...

Ivy League Schools Suing Students Over Loans

Yale, Penn among those seeing rise in defaults

(Newser) - Another sign that the student debt problem is off the rails: Borrowers defaulted on nearly $1 billion in federal loans designated for low-income students in 2011, a jump of 20% from five years earlier, reports Bloomberg . Because these particular loans, called Perkins loans, are administered by the schools themselves, it...

Occupy Activists Buy, 'Liberate' Bad Debt

The Rolling Jubilee project is seeking donations

(Newser) - Occupy Wall Street campaigners have a new target: distressed debt. A project called Rolling Jubillee is soliciting donations to buy up bad debts at bargain prices and cancel them, the Telegraph reports. So far they've only bought $14,000 in debt for $500, but they want to refill their...

More Colleges Join $50K Club
 More Colleges Join $50K Club 
Oct 25, 2012 2:22 PM CDT

More Colleges Join $50K Club

As tuition rises, 151 schools now above that threshold

(Newser) - Want more evidence that the price of college is exploding? Well this year, 151 schools will cost more than $50,000 a year, including tuition, fees, room and board, CNN reports, based on numbers from the College Board and Chronicle of Higher Education. That's up from 123 last year...

Debt Rises Again for New College Grads

It's up 5%, and that's not counting for-profit schools

(Newser) - It's the latest snapshot of the growing burden of student debt and it's another discouraging one: Two-thirds of the national college class of 2011 finished school with loan debt, and those who borrowed walked off the graduation stage owing on average $26,600—up about 5% from the...

Financial Aid Letters to Students Often Mislead
Financial Aid Letters to Students Often Mislead
propublica
Oct 16, 2012 7:37 PM CDT

Financial Aid Letters to Students Often Mislead

ProPublica reports on problems with the college letters

(Newser) - One more reason the student-loan problem is such a mess: The letters that college students receive spelling out financial aid often leaves them confused or flat-out misled about whether the money is coming from scholarships, grants, or loans, reports ProPublica . Schools also tend to push easy-to-get "Parent Plus" loans...

College Students Need Way Better Guidance on Loans

Schools aren't doing enough financial counseling: Laura McKenna

(Newser) - One part of the solution to the nation's student debt problem might not be all that hard to implement. At the Atlantic , Laura McKenna writes that college students often get remarkably little guidance about their loans and finances while in school. Sure, they talk to a faculty adviser to...

1 in 5 Homes Have Student Debt
 1 in 5 Homes 
 Have Student Debt 
NEW REPORT
Sep 27, 2012 12:40 AM CDT

1 in 5 Homes Have Student Debt

Figure jumps from 15% in 2007

(Newser) - Some 19% of US households, or almost one in five, owed student debt or had deferred loans in 2010, a Pew study finds. That's a jump of four percentage points from 2007—and twice as many homes are feeling the burden compared to two decades ago, USA Today reports....

Cities to Grads: Move Here&mdash;We&#39;ll Pay Your Debt
 Cities to Grads: 
 Move Here—We'll 
 Pay Your Debt 
in case you missed it
Jun 17, 2012 7:53 AM CDT

Cities to Grads: Move Here—We'll Pay Your Debt

Officials try to lure young workers with student-loan incentive

(Newser) - A tip for recent graduates: Move to Kansas, and you could get $15,000 of your student loans paid off by local government. Hit by shrinking populations, a number of Kansas counties are offering the program to people with degrees who owe student debt—if they're willing to live...

For 29% of Students: Debt, But No Degree

And they're the most likely to default

(Newser) - You think it's tough being a recent graduate with a mountain of student loan debt? Try being a dropout with a mountain of student loan debt. Nearly 30% of college students who took out loans in 2009 dropped out of school, up from 23% in 2001, according to a...

Debt, Schmebt: Loans Not Even on Students&#39; Radar
Debt, Schmebt: Loans Not Even on Students' Radar
STUDY SAYS
May 17, 2012 1:24 PM CDT

Debt, Schmebt: Loans Not Even on Students' Radar

Many underestimate them, some don't even know they have them

(Newser) - Many students are utterly clueless about how much student loan debt they have, a new Iowa State University study suggests. The study, conducted by ISU faculty on ISU students, found that 40% underestimated how in debt they were, and 1 in 8 didn't even realize they had loans at...

Student Loans Cripple Entire Generation

Nation's economy creaks under $1T in student loan debt

(Newser) - Wannabe college students have a lot to prepare for: all-night study binges, grueling exams, and the three jobs they'll need to pay off their crippling student debt. What's worse, that financial burden is only growing, the New York Times reports. Today, just 38% of the nation's $1...

Seniors Still Owe $36B in Student Loans

For some, delinquent debt problems continue even into 80s

(Newser) - America's student debt woes are battering a surprising demographic: seniors. In fact, Americans 60 years of age and older still owe $36 billion in student loans—and more than 10% of those loans are delinquent, reports the Washington Post . All told, seniors account for 4.8% of $85 billion...

Student Loan Debt Passes $1T
 Student Loan Debt Passes $1T 
Mar 22, 2012 8:26 AM CDT

Student Loan Debt Passes $1T

Figure much higher than expected

(Newser) - America's student loan debt is a lot higher than previously believed, a fact that may create a drag on the economy for years to come, according to a new report from the Consumer Financial Protection Bureau. Total debt passed $1 trillion late last quarter, officials told a banking conference...

Next Debt Bomb: Student Loans?

'Nonsense,' say others, as student debt is fraction size of housing

(Newser) - With student loan debts soaring to $867 billion last year, student debt is a "bomb" waiting to explode, bankruptcy lawyers tell the Washington Post. The figure is bigger than the $704 billion owed by all Americans on their credit cards , and of the 37 million borrowers, 14.4% have...

Obama Plans New Relief for Student Loans

Payments would cap at 10% of income next year

(Newser) - President Obama's next plan for struggling Americans: student loan relief that could save borrowers hundreds of dollars a month, the White House says. Using his executive authority, Obama will speed up a measure that caps student loan payments at 10% of discretionary income, starting in 2012 instead of 2014....

Ron Paul: Let's Kill Federal Student Loans

Says government's driving up college tuition, needs to get out of lending business

(Newser) - Republican presidential contender Ron Paul said today he wants to end federal student loans, calling it a failed program that has put students $1 trillion in debt when there are no jobs and when the quality of education has deteriorated. Paul unveiled a plan last week to cut $1 trillion...

One Trend Among GOP Freshmen: Debt

Not the national kind, the personal kind

(Newser) - Republican freshmen in Congress say they're serious about tackling the US debt—but when it comes to their own personal debt, many have what the Washington Post amusingly calls “a more nuanced view.” At least 30 out of 87 had debts of $50,000 or more last...

America's Most Expensive Dorms

Cost of room and board is on the rise

(Newser) - America's indebted students can expect to pay more for room and board this year. Prices increased 4.6% at public and 3.9% at private colleges, with average costs of $8,535 and $9,700 respectively, finds CampusGrotto . Here are some of the most expensive places to lay your weary...

Grads of For-Profit Schools Have Debt Trouble

Many leave unable to pay

(Newser) - The DOE has released loan-repayment numbers for 8,000 American colleges and universities showing that graduates of for-profit schools face bigger debt loads than their counterparts at nonprofit and public schools; and they are less likely to repay their loans, reports CommonDreams.org . Read the full article .

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