student loans

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College Grads Make 98% More Than Everyone Else

But does that mean that college is 'worth it'?

(Newser) - With college costs constantly rising , and graduates facing increasing economic challenges , more and more people are wondering if college is worth it. To which David Leonhardt at the New York Times offers a simple, straightforward answer: "Yes … and it's not even close." Leonhardt cites a new...

Students Default on Loans Over Obscure Provision

... even if they've been paying on time

(Newser) - Because the nation's student-debt situation wasn't enough of a mess: A new federal report warns that some students are going into default even when they've been paying back their loans on time, reports USA Today . It's because of an obscure provision covering private student loans—if...

Obama, Make These 5 Tweaks to SOTU

Ian Bassin lists 5 'bold' moves president could make at State of the Union

(Newser) - President Obama will announce a number of executive actions at tonight's State of the Union Address—but though the writing and planning of the speech likely started months ago, there are probably a number of aides considering last-minute additions even now. Ian Bassin should know: He used to be...

Current Grads Will Retire 12 Years Late

Thanks to student debt, study predicts new median retirement age of 73

(Newser) - Your student loans won't just cost you money, they'll cost you years of labor. A new analysis from Nerd Wallet estimates that today's graduates won't be able to retire until they're 73, a full 12 years later than the current average retirement age of 61,...

House OKs Lower Student Loan Rates (for Now)

President Obama expected to sign measure into law

(Newser) - Congress has sent its student loan fix to President Obama for his expected signature, and it contains a mix of good news and bad news for college students. The good news is that freshmen this fall will pay an interest rate of 3.9%, down from the 6.8% that...

Student Loan Band-Aid Clears Senate, Heads to House

Rates would drop to 3.86%, but start climbing after 2015

(Newser) - According to 81 senators, our nation's student loan woes are one step closer to being eased: They last night voted in favor of a bill that would ensure that undergraduates never face rates higher than 8.25% (grads and parents would be subject to slightly higher caps, at 9....

Senate's Student Loan Plan Cuts Rates—for Now

Undergrads would be able to borrow at 3.85% interest this fall

(Newser) - A Senate deal is set to lower interest rates on student loans for the next two academic years—but rates could climb after 2015, the AP reports after speaking to aides. Still, in the deal—set for a vote as soon as today—Democrats ensured that undergraduates would never face...

At 265 Colleges, Loan Default More Likely Than Graduation

Plus: Stafford loan interest rates double

(Newser) - Bad news if you're planning to attend Texas College in the fall: You've got a 38.2% chance of defaulting on your student loans ... and just a 12% chance of graduating. USA Today found 265 colleges and universities across 40 states where the loan default rate is higher...

Senate to Let Student Loan Rates Double

No deal looks likely before looming July 1 deadline

(Newser) - A compromise to keep student loan interest rates low proved unwinnable before Monday's deadline and interest rates on new loans are going to double — at least for a while — senators said today. Tom Harkin, the chairman of the Senate education panel, said none of the proposals being...

Feds Flag 126K in Student Loan Fraud Crackdown

$829M in Pell grants were 'improper payments' last year

(Newser) - Some $829 million in "improper payments," including those involving fraud and clerical errors, went out to Pell grant recipients over the fiscal year that ended in September. Though that's a smaller figure than in the previous two years, it's up 86% from 2007—and the US...

Student Loans Are Set Up to Screw Students
Student Loans Are Set Up
to Screw Students
OPINION
Jun 5, 2013 1:21 PM CDT

Student Loans Are Set Up to Screw Students

We need to fix the system now, argue two op-ed writers

(Newser) - One fundamental reason the nation's student debt problem is so awful is that these loans "aren't loans, at least in the traditional sense," writes David Dayen at Salon . Thanks to misguided laws, they can't be refinanced and the debt can't be shed through bankruptcy....

Student Debtors Steering Clear of Auto, Home Loans

New Federal Reserve Bank of New York study shows declining borrowing rates

(Newser) - The well-documented and much-fretted over explosion in student loan debt could be doing serious damage to the housing market and auto industries, as graduates strive to avoid going deeper into debt, according to an analysis posted on the Federal Reserve Bank of New York's blog . For the first time...

Plight of the New MBA: Fewer Jobs, Lesser Pay

Having degree no longer gets you into 'exclusive club'

(Newser) - If you ditched your law school dreams and took the MBA route instead in the hope of actually finding a well-paying job upon graduation, the Wall Street Journal has some really depressing news for you. The paper today takes a look at the plight of recent MBAs, who are emerging...

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...

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....

Owe Student Loans? Your Social Security Might Be Cut

Feds taking up to 15% of some retirees' checks

(Newser) - If you're retired and owe student loans, your Social Security benefits might not be as big as you thought. More and more retirees who are in student loan default are seeing a chunk of their monthly Social Security checks being grabbed by the federal government. Since January, the feds...

College Debt Crimping Richer Families, Too

More in upper-middle class now owe on student loans

(Newser) - What does the upper-middle class have in common with the poorer folks of America? Apparently, lots of student loans. The Wall Street Journal ran an analysis of Federal Reserve data, and found that families earning between $94,535 to $205,335 saw the biggest spike in the percentage who owed...

Private Student Loans Work Like Subprime Mortgages
Private Student Loans Work Like Subprime Mortgages
new study
Jul 20, 2012 9:21 AM CDT

Private Student Loans Work Like Subprime Mortgages

Lenders didn't check whether recipients could repay

(Newser) - Private lenders offered student loans without confirming that recipients could pay them back—then sold them to investors, thus protecting the lenders against defaults, a government study finds. Sound familiar? It should: It's a lot like the process that caused the subprime mortgage crisis. Some $8.1 billion worth...

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