Student Loans Articles

lab rat
Sep, 26, 2012
The $1 trillion dollar national student loan debt figure is perhaps the most important thing on the minds of many young Americans who are either attending college or recently graduated. Unfortunately for current college students and recent graduates, the job market remains weak. This prevents many recent graduates from working and paying off their student loans. With few ways to afford an education or pay off the debt it took to obtain an education many young people have become desperate for money.
Voter button sticker
Sep, 19, 2012
The Presidential Election is less than two months away. President Obama and Vice President Biden are facing off against Republican nominee Mitt Romney and his running mate Paul Ryan amid a weak economy, an unpopular war, rising global unrest, the Arab Spring, Civil War in Syria, and numerous Anti-US protests. While these large issues may weigh heavily on the minds of many Americans, more intimate issues such as personal finances and college debt may prove just as influential in this election season.
A ball and chain
Sep, 5, 2012
As many student borrowers are painfully aware, jobs are scarce, the economy is still weak, and college debt must still be paid off. Student loans, whether they are private or federal, must be repaid regardless of any local or national financial crisis. Unfortunately for many borrowers and cosigners, this is where private and federal similarities end. Unlike federal student loans, private loans are akin to other forms of privately offered financing. Private lenders—such as banks—set their own interest rates, policies, and fees for private student loans.
Heartbroken couple
Aug, 10, 2012
Student loan debt has overtaken credit card debt and reached $1 trillion according to the Consumer Financial Protection Bureau. Speculation abounds that this is the beginning of another financial bubble, but indebted students, some carrying debt in excess of $100,000, insist this is already a full-blown national crisis. Crisis or not, gargantuan debt of this size is certainly impacting our nation on a micro level, affecting borrower’s individual lives. Reports of student loans affecting dating relationships, marriages, and even relationships after marriage are growing more popular and more severe with each passing day.
Escape route exit
Aug, 3, 2012
Private student loans are the bane of many borrowers, especially when compared to the more consumer-friendly federal student loans. While neither federal nor private student loans can be discharged through bankruptcy, private loans almost always carry higher interest rates and harsher late penalties. Even if students compare student loan quotes online before borrowing, the fact that private college loans carry such high repayment terms and aren’t dischargeable through bankruptcy is having a major impact on our jobless graduates.
Wrench and Money
Jul, 31, 2012
The Consumer Financial Protection Bureau (CFPB) recently released a report on the private student loan industry, commenting on borrowing behavior and proposing what they believe would be adequate solutions to common problems with the current system. Included in the report’s recommended solutions section were five personal suggestions from CFPB Director Richard Cordray. Cordray’s recommendations are each geared toward helping students responsibly borrow money for college.
Roll of money with lit fuse
Jul, 23, 2012
Amidst worries and predictions that a second recession is on its way, economists are beginning to point their fingers at what they believe is one of the largest culprits: student loans. The 2008 recession was a product of the housing market’s collapse. Real estate values skyrocketed at the turn of the century and everybody was trying to grab a piece of the action. Nearly everybody who was a renter wanted to be an owner, and the nation saw an influx in the real estate agent’s and broker’s licenses that were handed out.
Sad graduate looking at city
Jul, 5, 2012
As the weeks leading up to July 1, 2012 fast approached, students and parents across the nation watched the news with nail-biting anxiety. They were worried that a key piece of legislation—a law that was holding federal student loans at an artificially low interest rate of 3.8 percent—would expire come the end of June. Democrats and Republicans both pitched unrealistic proposals that both knew the other would never agree to, and the situation truly looked dire. Then at the 11th hour, just two days before the July 1 deadline, our politicians united and signed an extension of the student loan bill.
Graduation cap and checkbook
Jun, 22, 2012
California’s higher-education school system is amongst the best in the world. The UC and state college systems are sought by residents from all 49 other states in addition to the countless international students eager to get a “California Education.” But California has also succeeded in another area: it has a brilliant community college system aimed at prepping students to attend a 4-year university at a fraction of the cost. Community colleges allow students to acquire an Associate’s Degree (AA) in two years and then transfer to a 4-year university to complete their remaining two years of upper-division courses.
Graduation cap on money
Jun, 5, 2012
In the wake of the student loan crisis sweeping the nation, young borrowers are pleading for some sort of relief. Programs have been pitched and advice has been given, but little has been done to actually spare our college educated from starting their young lives off with, for some, debt the size of a mortgage. And beneath the sound of students’ cries is a quieter, but equally passionate voice from bankruptcy advocates urging lawmakers to reform our bankruptcy law so that student loans can be discharged if a debt-ridden student files for a Chapter 7 discharge.