Tag: college loans


Tax millionaires, not students, says Sen. Warren

Posted on March 7th, 2014

"This is real money that says America invests in those who get an education." -- Sen. Warren (D-MA)

Jennifer Lawrence might be America’s BFF, but Senator Elizabeth Warren (D-Massachusetts) is the modern college student’s best ally. Her latest student loan proposal aims put a large dent in the nation’s current $1.2 trillion student loan debt and provide relief for struggling borrowers. Student loan plan could save borrowers $1,000/year As part of the plan, current student loan borrowers […]

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Illinois introduces interest-free college tuition bill

Posted on March 4th, 2014

"With the recent explosion of student debt, it is clear we need a new approach to how students pay for college." -- Rep. Jay Hoffman (D-Swansea)

Imagine if you took out $30,000 for college and that’s all you had to pay back. For most student loan borrowers, that’s not the case. Due to compound interest, that $30,000 can easily turn into $40, $45, $50,000 or more by the time the graduate has paid it off. The burden of student loan interest […]

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The wrong reason to go to college

Posted on February 26th, 2014

We’ve discussed the benefits of attending college at length, but we’re always quick to point out that even though college degrees are a good investment in your future, it doesn’t mean they’re worth going hundreds of thousands of dollars into debt for.

This funny video from YouTube personality Ryan Higa shows the downsides of college for many students and graduates: underemployment, massive student loan debt, stress, and studying subjects that don’t apply to your future career.

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Student loan consolidation explained with Play-Doh

Posted on February 5th, 2014

What is student loan consolidation and how does it work?

We love this video from StudentLoanConsolidator.com, which explains the process in a unique way–by using Play-Doh to represent student loan consolidation.

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How 5 students are getting into college–and paying for it

Posted on December 17th, 2013

December is a stressful time for college-bound students and their parents. With the pressure to finish up scholarship and college applications, along with the impending doom of paying for it all, students and families’ anxiety can really build up.

Hechinger Report recently took a look at five students and their families to learn how they’re navigating the college admissions process, dealing with the pressure and stress of applying, and figuring out how to pay for college.

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The best gift for college grads

Posted on December 10th, 2013

For college graduates and adults struggling with student loan repayment, the holiday season can be difficult. So many gifts to give, so little money in the bank account.

But a new service from Tuition.io lets family and friends ease the burden of student loan borrowers during the holidays.

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Average student loan debt rises to $29,000

Posted on December 5th, 2013

According to a report released Wednesday, the average student loan debt for a member of the class of 2012 was $29,000, up from $26,600 in 2011.

This increase follows recent trends, with student loan balances for new graduates rising at an average rate of 6% per year from 2008 to 2012.

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Advice for millennials, from millennials on student loans & money management

Posted on November 22nd, 2013

"Does an 18 year old really understand the concept of what $40k in debt is? I hardly think so. " -- Shay, Polson, Montana

In a recent Guardian article, millennials were asked what they wish their parents had taught them about choosing a college, student loans, and managing their finances. Millennials regret taking on student loan debt Many millennials expressed regret that they had spent so much on their college degree and wished they had looked into less expensive […]

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Can’t pay your student loans? This college will pay them for you.

Posted on November 20th, 2013

After graduating college, many former students have difficulty finding jobs that allow them to afford their monthly student loan payments.

If you graduate into a low-paying field, you may find yourself barely scraping by–even before you pay your student loans. The lowest-paying major for 2013, Child and Family Studies, has an average starting salary of just $29,300.

Houghton College knows the economy is tough, and it can take new graduates several years to make enough money to pay back their loans, especially in smaller cities, job markets, and careers.

That’s why the small liberal arts college in Houghton, NY has decided to launch an innovative new student loan repayment plan for graduates.

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Who should get financial aid?

Posted on November 11th, 2013

"Student aid forms and formulas are so complicated that they practically serve as obstacles to success, and for some of the truly daunted, even barriers to access." -- Mark Kantrowitz

How should financial aid be given out? How can we make college more affordable? How can student loans be improved? The NY Times recently explored these questions and more in a Room for Debate column. Simplifying financial aid The higher education professionals involved in the discussion emphasized the need for creative solutions to pay for […]

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