With the cost of higher education rising every day, many people aim to fund their college programs by means of student loans. They try to use either private or federal student loans as a vehicle to get their college degrees. By doing this, they end up postponing the majority of college costs until after they finish graduation so that they have a better chance of settling their debts fast by securing good paying jobs. Student loans become part of financial aid that has to be repaid in reasonable instalments. It can be noted that most student loans are part of the Direct Federal Loan Program through the William D. Ford grant. This is with the exception of some alternative and private loans.
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Dec, 30, 2013
As much as money can talk nowadays, politicians are ultimately the ones with the power to implement and change policy, and incentivising their decision-making with money is an integral part of America’s current political system. This practice of donating money to our elected representatives is known as “lobbying.” One of the industries that is both a donor of campaign funds and majorly impacted by policy change is the payday loan industry.
Dec, 16, 2013
Credit scores are sort of like souls. After too many mistakes, a person with a bad credit score finds themselves damned to a financial inferno where they can’t qualify for loans. Making the right decisions and repaying lenders means a person gets a glowing credit score and easy access to financing heaven. Well it turns out there’s actually more than one soul, so to speak, or more accurately, more than one type of credit score.
Dec, 12, 2013
Low credit scores, high levels of debts and a poor financial history can severely limit a consumer’s power in the economy. When negative marks and debts are prevalent, some feel that there is no way out of the mess. But many previous debtors have escaped the financial perils brought on by poor decisions and now have lower debt balances and positive credit scores. Their path to financial freedom is not always the same, but the end-result and the appreciation for a better financial life almost always is. These are some of their stories. Choosing Comedy over Consumerism
Dec, 11, 2013
The Great Recession hit America like a natural disaster, creating a downward shift in nearly every facet of the economy. Homes were lost, unemployment skyrocketed, and businesses faced bankruptcy and closures. From 2008 to 2010, more than 200,000 small businesses disappeared.
Dec, 9, 2013
It is often easy to forget that entrepreneurs are just normal people. They have the same problems and insecurities as other people. After all they are only human. Like non-entrepreneurs, they grapple with raising families, dating, weight loss, life goals, and, of course, debt. Entrepreneurs have to repay their debts just like everyone else. Be it auto loan debt, student loan debt, personal loan debt, or business loan debt, entrepreneurs must divert some of their income to debt repayment lest they fall victim to default and debt collectors. However, entrepreneurs have one card up their sleeve: their business.
Nov, 26, 2013
By the age of 16, Nefertari Nelson Williams had moved 20 times. For a decade, from the ages of six to 16, Williams and her mother spent times in residences varying from the relative safety of family members to the instability of local shelters. But she never let it show. And she never let it stop her from eventually owning her own home.
Nov, 21, 2013
The war between the payday loan industry and anti-payday loan activists raged across America in 2013. This was not a war of bullets, missiles, and drones, but instead a war of legislation, political pressure, and lobbying. Like many long-lasting wars across the ages, the Payday Loan War experienced some interesting developments over the last year. The Consumer Financial Protection Bureau (CFPB), stretching its legs as a young government organization, let it be known that it would give proper attention to cash advance lending complaints.
Nov, 15, 2013
College may have lost some of its luster. While it is common knowledge that young people are struggling along with the rest of America, it is also commonly known that people need to go to college in order to succeed. At least, so the mantra is repeated. As many a barista can share, a college degree isn’t the guarantee of a good job, let alone a full-time one. Adding salt to many a college graduate’s wound is the heaping debt that many accumulate to afford a college education.
Nov, 14, 2013
Money is the main cause of marital conflict, yet so few couples are willing to talk about critical topics before issues arise. Nearly 90 percent of divorces stem from money issues, according to Kimberly Foss, founder and president of Empyrion Wealth Management. The marriage might not dissolve strictly due to financial incompatibility, but it can create any number of problems that lead to an eventual divorce. The importance of having financial conversations before they turn into problems is obvious, but couples across the world remain unaware or ambivalent about financial topics.