student loans

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Worst Student-Loan Payers: 40-Somethings

They claim highest delinquency rate of all age groups

(Newser) - Think recent grads struggle the most with their student loans? Think again. New data from the Federal Reserve Bank of New York reveals it's actually people aged 40 to 49 with the highest rate of student-loan delinquency. Some 11.9% of people in that age group are behind on...

Niagara Falls' Student Loan Offer Actually Luring Grads

More than 200 people have inquired about new plan so far

(Newser) - Niagara Falls' plan to lure recent graduates by paying their student loans is actually working: More than 200 people have asked about renting or buying a place there since the program began just last month. And not just locals; some of the interested parties are from as far away as...

Senate Reaches Deal to Freeze Student Loan Rates

7M students could save as rates stay at 3.4%

(Newser) - Student loan rates will stay at 3.4% for another year, thanks to a Senate deal on the issue, insiders tell the Washington Post . With President Obama and Mitt Romney both pushing for the freeze—which prevents rates from jumping to 6.8% July 1—the agreement is no surprise,...

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...

Dad Struggles With Dead Son&#39;s Student Loans
Dad Struggles With
Dead Son's Student Loans
propublica
Jun 14, 2012 8:00 PM CDT

Dad Struggles With Dead Son's Student Loans

ProPublica story shows just how complicated the system is

(Newser) - It's no big revelation that student loans are getting out of control , but ProPublica weighs in today with a good example of how insanely difficult it can be to navigate the system. Freddy Reynoso graduated from the Berklee College of Music with six-figure debt but was killed in a...

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...

Debt Collector on Student Loans Made $454K in a Year

With more people defaulting, business is brisk

(Newser) - The growing number of ex-students overwhelmed with student-loan debt might want to consider an apropos career switch—to become a collector of overdue student loans. Sadly, it's no joke. As Bloomberg explains, one such collector made $454,000 in a single year, most of it in bonuses for getting...

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...

Student Loan Rate Hike Is Overhyped
Student Loan Rate Hike Is Overhyped
OPINION
May 10, 2012 11:33 AM CDT

Student Loan Rate Hike Is Overhyped

Congress is screwing college students in much bigger ways

(Newser) - Congress is up in arms over how to keep rates on Stafford student loans from doubling in July, but Mark Kantrowitz and Lynn Shaughgnessy have a question: Who cares? "The partisan posturing is a distraction from far more pressing issues that face students," the college experts write in...

Bill to Lower Student Loan Rates Fails in Senate

GOP blocks measure; parties can't agree how to pay for it

(Newser) - Hope your federal student loans are paid off, kids, because Washington appears deadlocked over legislation that would prevent their rates from doubling this July. A Senate bill to do so failed in a 52-45 vote along party lines today, failing to get the 60 votes needed to avoid a filibuster,...

House OKs Student Loan Bill, Ignores Veto Threat

Measure to help students gets bogged down in DC politics

(Newser) - Republicans defied a veto threat as the House voted today to prevent federal loan costs from doubling for millions of college students. The vote gave the GOP a momentary election-year triumph on a bill that has become enmeshed in partisan battles over the economy, women's issues, and President Obama'...

Obama Slow-Jams the News on Fallon

President makes a play for young voters

(Newser) - As Mitt Romney celebrated his five-state sweep, President Obama was on Late Night With Jimmy Fallon making a play for young voters. The president took part in one of Fallon's signature bits, "slow-jamming" the news as house band The Roots laid down a groove, Entertainment Weekly reports. "...

Pay Off Student Loans ... by Spending More
Pay Off Student Loans
... by Spending More
odd notions dept.
Apr 8, 2012 10:59 AM CDT

Pay Off Student Loans ... by Spending More

New Visa debit card has rather strange idea for borrowers

(Newser) - Struggling with student loan debt? The SmarterBank Visa debit card can help you pay it off … by spending more money on other stuff. The card, launched by student loan comparison company SimpleTuition.com, offers rewards from 0.5% (for purchases under $100) to 1% (for purchases over $100), which...

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...

A 7-Step Guide to Ruining Your Life
 A 7-Step Guide to 
 Ruining Your Life 
in case you missed it
Dec 11, 2011 7:00 PM CST

A 7-Step Guide to Ruining Your Life

First, make sure you develop no marketable skills: Walter Russell Mead

(Newser) - If you want to emerge from college "with massive debt loads, major attitude problems, and no marketable skills," Walter Russell Mead has a 7-step plan that's sure to work. Disgusted with a recent Boston Globe column about "awesome" college courses (among them: "The Culture of...

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...

Student Loan Debt to Hit $1T This Year

...that's more than Americans owe on their credit cards

(Newser) - America’s total outstanding student loan debt will cross the $1 trillion threshold for the first time this year, putting those loans ahead of credit cards as the country’s biggest source of debt, USA Today reports, citing figures from the Federal Reserve Bank of New York. Student lending has...

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