student loans

Graduates are using Installment Loans to Fund Mishaps

The college student of 2010 Many college graduates are using installment loans to make ends meet. Angela Trummell, college graduate in 2010, said, “A lot of my friends are planning on going back home because they can’t afford post-college life. I really don’t want to do that.” Trummell is like a lot of students. They
A graduate mortarboard cap and diploma, as well as a male hand that is handcuffed to a stack of money, are visible.

How to remove a co-signer from a student loan

Have you ever agreed to be a co-signer on a friend’s student loan but regretted having done so after the fact? Let’s say you don’t talk to the person anymore, and fear risking a damaged credit rating if they default on the loan. Thankfully, Bankrate reports that all is not lost. There are ways to

New Debt Relief for Student-Loan Borrowers

Debt relief for student-loan borrowers Income-based repayment is a welcome relief for student-loan borrowers The Department of Education is beginning a program to help students with debt relief. The department is allowing consumers to apply for a program that will cap monthly student loan payments based on income and forgive balances still remaining after 25

Canceling Student-Loan Debt

Is it possible to cancel a student loan debt? Yes, in rare instances, it is possible to cancel a student loan debt. For most borrowers, however, cancellation is not an option, although loan deferments or forbearances may be available and can be very helpful. Student loans can be much larger and harder to pay off
Keble College, a constituent college of the University of Oxford

Student Loans: Should We Bypass the Banks?

Few Can Afford College without Borrowing Money The cost of higher education is spiraling skyward. At some private schools it now exceeds $50,000 a year. Lagging government support has resulted in steep tuition increases at public universities as well. Little wonder then that educational loans have become as indispensable to college students as low cost
College students graduating

Students optimistic about the future, despite expecting less cash

People of college student age are expecting to be less wealthy than their parents but more satisfied with life, according to a recent survey. An Associated Press survey of people ages 18 to 24 revealed that younger people, especially those saddled with higher amounts of student debt, expect a lower quality of life than their

Education Costs Are Leading to Installment Loans

Education Costs Are Leading to Installment Loans the first to be hit by easy credit available to students as a way to meet the soaring costs of education. Americans relied on the financial products of the Wall Street boom to pay for higher education, but all of these shrank without a trace in the tsunami
A young female graduate in black cap and gown.

College financial aid advice for middle-class families

Financial aid is a necessity for many low- to middle-income students and their families. Thankfully, there are student loan programs designed specifically for people who fall within the low- to middle-income brackets. Banknote suggests those looking for ways to pay for college use this three-pronged attack. Aim high for need-based qualification If a student doesn’t
College students

Everything parents need to know about their student loan options

More than $100 billion in federal education loans and about $10 billion in private student loans are originated every year. For most students, the student loan process begins by applying for federal loans through the FAFSA application. Parents also have the options of paying for their child’s education by obtaining a federal government Parent PLUS
close-up of man in black graduation gown holding diploma tied with blue ribbon

Student-lending reform becomes law

This morning President Obama signed into law a huge overhaul of the nation’s student lending industry, eliminating $61 billion in federal subsidies to private lenders. President Obama has promoted the bill as a measure designed to make higher education more affordable and post-graduation debt loads more manageable.  If debt loads were more manageable, fewer recent
Paperwork

Chase Bank in trouble for treatment of servicemember loans

JPMorgan Chase is facing tough questions about its treatment of servicemember finances. JPMorgan Chase has foreclosed on many active servicemembers’ homes under questionable circumstances. Now, Chase is re-thinking how they handle active duty servicemembers’ student loans. JPMorgan Chase and active service members JPMorgan Chase is a mega-finance bank that provides financial services such as student
a disgruntled looking young man sitting behind a stack of text books

People with Unsecured Loans Have Options While Students Do Not

While the media focuses on mortgage, auto and unsecured loans, there is a growing group of people who are facing another type of loan: student loans. Recent studies have shown that there is about $730 billion in outstanding student-loan debt. Of that number, only about 40 percent is being repaid on time. The remaining 60
College Students

Rising tuition leads to more defaults on student personal loans

College students have to take out personal loans these days with increasing frequency and size to fund their educations. A college education is great to have, but the huge expense that has to be taken on may have led to a rising rate of default. The students profit least from the current system. Rising tuition
College

For-profit colleges have highest rate of default on student loans

The rate of default on student loans is higher for students who attended a private, for-profit university. New data from the U.S. Department of Education indicates 25 percent of students who attended for-profit schools defaulted on their student loans. Public school attendees had a default rate of less than 11 percent. Nonprofit school students default
exterior of a building on a college campus

Student loan debt expected to hit more than $1 trillion in 2011

More students are going to college, and most of them are going into debt. Student loan debt outpaced credit card debt in 2010 and is expected to pass $1 trillion in 2011. Student loans, long considered a “good debt,” may morph into a bad debt for graduates faced with decades of payments. Student loan debt

The Decision to Consolidate Student Loans

Consolidating student loans can improve the bottom line Consolidating student loans may be a helpful alternative for someone struggling to pay off multiple loans, particularly if some have high variable interest rates. Although college loans are considered to be good debt because they are financing a person’s future, they can nonetheless be a burden to

Student Loans Can Be Good Debts

Student loans are in investment in success The word debt often carries negative connotations, but there are times when debt is considered a good thing. Student loans, for instance, can be considered good debts. It would, of course, be preferable not to have to borrow money to pay for college, but not everyone can finance