Before borrowing money to pay for college, it’s important to know what your loan’s interest rate will be to figure out how much you’ll pay over the life of the loan.
Unfortunately, students and parents will pay more this year than last to borrow for college. Federal student loans remain, however, one of the most affordable options when borrowing for college.
Read on to find out the new student loan interest rates for the 2014-15 academic year.
It’s an age-old question that’s been debated by philosophers from Socrates to The Notorious B.I.G.: Does mo’ money equal mo’ problems? It just might, if that money is being taken out to pay for college. Graduates with student debt are less happy Many students and families think that attending a prestigious, well-known college is the […]
We’re proud to be based in Western New York, and we’re always glad to see the area get national recognition.
That’s why we were so excited to hear that Buffalo, the largest city in the region, was recently named the top medium-sized city for new college graduates by CreditDonkey.com.
The city’s low rents, low job competition and great nightlife make it an attractive destination for young college grads hungry for employment and fun while still affording their student loan payments.
It’s well-documented that student debt has grown rapidly over the past decade. The class of 2014 graduated with an average $33,000 in student loans per student, and the numbers will likely be event greater for next year’s class.
Given that student loan debt is increasing while salaries are declining, it’s not surprising that many young adults are struggling to accumulate wealth.
According to a new report from the Pew Research Center, it’s become increasingly difficult for young adults with student debt to save up enough money to buy a house, get married or start building their ‘nest egg.’
It’s official: the class of 2014 is the most indebted college class ever.
According to an analysis by Mark Kantrowitz published in the Wall Street Journal, the average 2014 college graduate has $33,000 in student loans, the most by any previous class.
Just a year ago, we were talking about how the class of 2013 was the most indebted class ever, but, as has been the case for the past 20 years, the record has been broken by this year’s class.
Sen. Elizabeth Warren (D-MA) says student loan interest rates are ‘crushing’ former students, and something needs to be done. She introduced a plan in March that would let student loan borrowers refinance their loans at lower interest rates. And last week, she filed the bill with the support of 27 co-sponsors. Plan would let borrowers refinance […]
President Obama unveiled the “Pay As You Earn” program in 2011 as a way to provide relief for student loan borrowers struggling to repay their loans. For student loan borrowers with low incomes, especially those in the public sector, the income-based repayment plan helps them manage their monthly payments even without a high-paying job.
The plan capped borrowers’ payments at 10% of their discretionary income per year. After 10 years, for the unpaid balances for those working in the public sector or for nonprofits would be forgiven, while private-sector workers’ debts would be wiped after a 20-year payment period.
But the program has had an unintended consequence: the government is taking on enormous debt, while colleges continue to raise tuition, having no incentive to lower costs when the government is footing the bill.
What’s keeping millennials up at night? It’s not just Netflix–it’s student debt.
NPR’s Morning Edition recently asked young adults, members of the millennial generation, what their biggest concerns were.
The results were telling: almost two-thirds responded that college debt was their biggest worry.
College applications were down this year at many top colleges, including Harvard and Dartmouth. This has led some in higher education to worry whether we’ll start seeing fewer people completing college degrees. It’s even caused some colleges to be forced to close. Law schools cutting tuition to attract students Many law schools have seen similar declines […]
Good news (finally!) for young college graduates.
According to a survey released on April 16, employers said they plan to increase the number of college graduates they hire this year by nearly 9 percent.