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Keyword: collegeloans

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  • Obamas to host event on paying for college [fed funding tied to rating system]

    01/10/2014 12:01:30 PM PST · by Cincinatus' Wife · 7 replies
    The Hill ^ | January 10, 2014 | Justin Sink
    At the time, the president proposed tying federal aid to the rating system to incentivize schools to help their students graduate with an affordable education.President Obama and first lady Michelle Obama will host an event on college affordability next Thursday at the White House. While White House press secretary Jay Carney did not provide details about the event, it is likely a make-up of a summit with college presidents and members of the private sector that had been planned for early last month. The White House was forced to scrap that event after the death of South African President Nelson...
  • Baby boomers may die with college debt

    04/16/2013 3:22:15 PM PDT · by rightwingintelligentsia · 42 replies
    MSN Money ^ | April 16, 2013 | Aimee Picchi
    Baby boomers are easing into retirement, but some may find their golden years are haunted by student loan debt that could follow them until they die. It's not their children's debt, however -- it's their own. Many boomers returned to graduate school during the recession to bolster their skills, reports the Chronicle of Higher Education. Student loan debt is actually growing fastest among people over 60, the report notes. More than 2 million Americans over 60 owe student loan debt, with the average balance standing at about $19,500, up from just under $11,000 in 2005, according to the Federal Reserve...
  • Middle Skills, Middle Money?

    02/26/2013 5:22:52 PM PST · by eagleye85 · 13 replies
    Eagleye Blog ^ | February 26, 2013 | Bethany Stotts
    People with an Associate’s degree may earn less in their lifetime, but they might just be earning more right now. New data shows that an Associate’s degree may impart the ‘middle skills’ which are the ticket to the middle class. “Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce,” reports Jon Marcus for CNN Money. “In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.” However, “Although these...
  • For Medical Students, a Growing Residency Gap

    02/15/2013 9:42:42 AM PST · by eagleye85 · 5 replies
    Eagleye Blog ^ | February 15, 2013 | Bethany Stotts
    In a previous blog entry I discussed reasons not to go to law school, namely, the high debt and low employment ratio. It seems that medical students are facing a similar situation, as reported by the Washington Post’s Sarah Kliff. “But there’s also a downside to heading to medical school these days: Students’ odds of getting in a residency program are rapidly shrinking — and medical students have begun to live in fear of this very scary chart,” writes Kliff. The chart contrasts medical residency applications rising steeply, with a gradually increasing line of open 1st year residency positions. As...
  • Entrepreneurial Education Solutions Required

    02/01/2013 11:21:58 AM PST · by eagleye85
    Eagleye Blog ^ | February 1, 2013 | Bethany Stotts
    Arthur C. Brooks is the president of the American Enterprise Institute, a preeminent think-tank in Washington, D.C. What you may not know about him is that he finished his three degrees via correspondence before he landed a job as a Syracuse University professor. “I possess a 10K-B.A., which I got way back in 1994,” writes Brooks for the New York Times. “And it was the most important intellectual and career move I ever made.” The 10K-B.A. is a Bachelor’s degree that costs approximately $10,000. “I took classes by mail from the University of Washington, the University of Wyoming, and other...
  • Now Hiring Bachelor’s?

    11/15/2012 12:58:53 PM PST · by eagleye85 · 11 replies
    Eagleye Blog ^ | November 15, 2012 | Bethany Stotts
    As recently reported by USA Today, one third of millennials have earned four-year degrees. In my previous blog entry I discussed the financial perils facing these students, who often graduate unable to find a job in their major (unemployed or underemployed) and saddled heavily with debt. However, it looks like the job market for those with Bachelor’s degrees is creeping upward somewhat, according to a new report issued by Michigan State University (pdf). “The new college labor market inches ahead with a 3 percent gain over last year across all degrees,” it states. “Strong demand for marketing, finance, human resources,...
  • Graduating… Into What?

    11/06/2012 6:23:33 AM PST · by eagleye85 · 3 replies
    Eagleye Blog ^ | November 6, 2012 | Bethany Stotts
    One of the major pitfalls in education policy is viewing education as intrinsically valuable in and of itself. This is like saying that a dollar is valuable for being a dollar, rather than what can be bought with said cash. A recent article by Mary Beth Marklein, with USA Today, notes that one third of millennials have earned a four-year degree. This is “up from 28% in 2001 and 2006 and 17% in 1971,” according to U.S. Census data, she reports. “They may live with their parents and they may owe thousands of dollars in student loans, but a larger...
  • Un-PAYDE: Pay as You (Don’t) Earn

    11/02/2012 7:51:33 AM PDT · by eagleye85 · 3 replies
    Eagleye Blog ^ | November 2, 2012 | Bethany Stotts
    Student loans from the federal government cannot be discharged in bankruptcy and have severe consequences upon default. For example, upon default the federal government can garnish your wages and your credit will plummet as your loan account is assigned to a collection agency. With these consequences in mind, the Obama Administration has just recently finished its rules for the Pay As You Earn (PAYE) program. “Today the U.S. Department of Education issued final regulations that will help many more federal student loan borrowers lower their monthly payments and avoid default,” stated The Institute for College Access & Success (TICAS) on...
  • Student Debt Turning Public Against Universities

    As Occupy Wall Street and its imitators disrupt cities across America, one of their complaints is the debt incurred while attending universities.
  • Tight on Cash, One State Taps 529 Plan Revenues [ Nevada ]

    08/25/2011 6:22:30 AM PDT · by LurkedLongEnough · 11 replies
    SmartMoney ^ | August 25, 2011 | ANNAMARIA ANDRIOTIS
    A new report suggests Nevada put budget woes ahead of savers' interests. Could other states follow? Recent controversy over one state's use of the funds in its college savings plans has raised new concerns for parents and students across the country with money in 529 plans. In a game of fiscal hot potato, the Nevada legislature moved money from a state scholarship fund into the state's general fund last year; the state later took $4.2 million worth of fees from its 529 plans to cover the gap in the scholarship fund, according to a recent report from the Nevada Policy...
  • 8% of Florida students default on school loans

    05/30/2011 7:47:07 PM PDT · by TheDingoAteMyBaby · 21 replies
    Sun-Sentinel ^ | May 30, 2011 | Scott Travis
    Forget term papers and roommate conflicts. For many students, the biggest college stress comes after they leave school. Six months after graduation, those first student loan bills start arriving and for a Florida student in 2009, the average amount owed was about $21,000, according to the California-based Institute for College Access & Success. In this market, many graduates are unable to get the high-paying jobs needed to pay that debt. Student loan debt nationwide now tops $913 billion and surpassed credit card debt for the first time last year, a study from college financial aid website FinAid has found. The...
  • Q: Why Is A College Education Like Healthcare?

    03/19/2010 9:13:32 PM PDT · by Stoutcat · 5 replies · 194+ views
    Grand Rants ^ | 3-20-10 | Stoutcat
    A. It’s not. So why in the name of all that’s holy are we seeing provisions for taking over the college loan business, as well as disbursements to “historically black” colleges and “underrepresented students” in this abortion of a healthcare bill that may be foisted upon us before the Vernal Equinox? ...
  • No mercy for debtors (How long must a college grad work to repay his college debts ?)

    03/02/2010 8:53:22 PM PST · by SeekAndFind · 89 replies · 1,561+ views
    Republican American ^ | 03/02/2010 | Prof. Mark Hendrickson, Grove City College
    You may have seen the recent story about the 41-year-old doctor who graduated from medical school in 2003 with student-loan indebtedness of $250,000 that has swelled to more than $555,000. She is now scheduled to pay $990 per month until she is 70. Ouch! This is an extreme example of a widespread problem. Only 40 percent of the $730 billion of outstanding student loans actively are being repaid. This isn't healthy for financial institutions or for many young Americans. It's easy to say those who borrow to pursue their post-secondary education bear the primary responsibility. The first rule of survival...
  • College Loans and Moral Hazard

    02/24/2010 2:57:53 PM PST · by bs9021 · 8 replies · 290+ views
    AIA- FL Blog ^ | February 24, 2010 | Bethany Stotts
    College Loans and Moral Hazard Bethany Stotts, February 24, 2010 This week the Huffington Post launched its “College” section which will feature “…voices from colleges and universities all around the country and offers a real-time snapshot of what’s going on in the lives of the nation’s 19 million college students — from coverage of the latest trends and sports happenings to more serious issues such as freedom of expression on campus and the rising cost of tuition,” writes Arianna Huffington. One section is focuses on “Majoring in Debt” and provides stories from college students about their experiences with student loan...
  • Obama Trying to Take Over Student Loan Biz, Adding Another Trillion to the Debt

    09/11/2009 6:35:46 PM PDT · by Shellybenoit · 11 replies · 504+ views
    WSJ/The Lid ^ | 9/11/09 | The Lid
    Whats one more trillion dollars between friends. At least it seems that's what the POTUS thinks. While everybody has their eyes on the Health Care Issue which will add up to one trillion dollars to the national debt, the President has been maneuvering to have the government to to take over the student loan business. Starting next year the President wants to bar private lenders to make government backed, student loans. This take over will add another trillion dollars to the debt over a ten year period.
  • Lenders of First Resort

    03/26/2009 5:10:41 PM PDT · by rmlew · 4 replies · 484+ views
    National Review Online ^ | March 26, 2009 | Robert VerBruggen
    Modern American college students are some of the most fortunate people ever to inhabit the earth. Why should we feel sorry for them? Because they’re saddled with “the most oppressive debt in U.S. history,” argues Alan Michael Collinge in his new book, The Student Loan Scam. This is, of course, quite false: The most oppressive debts in U.S. history probably occurred when this country had debtors’ prisons. Unfortunately, Collinge is filled with such unjustified indignation. He makes a big deal about high interest rates on private (non-federally guaranteed) loans, as if students aren’t given that information when they sign up....
  • How Obama's College Plan Hurts My Generation

    11/30/2008 2:15:45 PM PST · by fightinJAG · 9 replies · 767+ views
    Daily Beast ^ | Nov 30, 2008 | Zac Bissonnette
    [snip] But Obama's ideas do nothing to confront the heart of the problem. The issue isn't just that students can't come up with the cash for college, it’s that the cost of college is growing far too fast. From 2002 to 2006, tuition and fees at public universities rose 57%, according to The College Board. That's more than three times the rate of inflation and, more troubling, far faster than our real economic and wage growth over that period. Most of my peers supported Obama. Polls show he won the under-30 vote by 34 points, the largest of any candidate...
  • Richardson calls for college loan help

    09/04/2007 5:07:47 PM PDT · by george76 · 17 replies · 306+ views
    Associated Press ^ | Sep 1 | PHILIP ELLIOTT
    Presidential hopeful Bill Richardson on Saturday said a portion of college loans should be forgiven if graduates complete a year of national service. The New Mexico governor plans to unveil the specifics of his education plan in Portsmouth in a few weeks, but gave a preview during a house party in a Londonderry backyard. "As part of your college loan structure — in other words we'll pay them off, if you give your country one year of national service: work in a forest, clean up a forest ... work in a hospital, go in the military, go in the Peace...
  • Rosen: College: No free lunches

    12/16/2005 8:13:15 AM PST · by A.A. Cunningham · 10 replies · 682+ views
    Rocky Mountain News ^ | 16 December 2005 | Mike Rosen
    Rosen: College: No free lunches December 16, 2005 If you want something and don't have the money to pay for it, you have two choices: You can save up until you're able to buy it or you can borrow the money and get what you want now rather than later. This works well with the purchase of a house or a car. It also makes sense for a college education. Borrowing is the fun part. Paying it back can be less pleasant. So say students who have posted their gripes online in something called the Student Debt Yearbook, a project...