Keyword: studentdebt

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  • Federal Debt Now $200,000 Per Full-Time Private-Sector Worker

    10/15/2014 6:54:59 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | October 15, 2014 | Terry Jeffrey
    Which will be greater: the burden of student debt on Americans who went off this fall to their first year of college, or the amount of federal debt per full-time private-sector worker when these students earn their degrees and start looking for jobs? There is no doubt: It will be the amount of federal debt per full-time private-sector worker. As of last Friday, the total debt of the federal government was $17,858,480,029,490.28, according to the U.S. Treasury. That equaled $200,258.81 for each of the 89,177,000 full-time private-sector workers that, according to the Census Bureau, were in the United States in...
  • Student debt at all-time high of $1.2 trillion

    09/24/2014 2:48:03 PM PDT · by SeekAndFind · 23 replies
    CNBC ^ | 09/24/2014
    U.S. student debt has climbed to an all-time high, despite a decrease in consumer debt for all other major lending categories such as automotive debt, credit card and home equity loans. Behind mortgages, student loans are the second largest debt class. Now at $1.2 trillion, student debt has increased 84 percent since the 2008 Great Recession, based on a study by information services firm Experian. The national average balance of loans stand at $29,400 and 40 million consumers now have at least one student loan, originally reported by NewsOK. Mississippi, Oklahoma and Louisiana had the highest amount of late payments....
  • Occupy Movement abolishes $4 million in other people's student loan debt

    09/18/2014 6:35:38 AM PDT · by SeekAndFind · 15 replies
    Money ^ | 09/18/2014 | Blake Ellis
    After forgiving millions of dollars in medical debt, Occupy Wall Street is tackling a new beast: student loans. Marking the third anniversary of the Occupy Wall Street movement, the group's Strike Debt initiative announced Wednesday it has abolished $3.8 million worth of private student loan debt since January. It said it has been buying the debts for pennies on the dollar from debt collectors, and then simply forgiving that money rather than trying to collect it. In total, the group spent a little more than $100,000 to purchase the $3.8 million in debt. While the group is unable to purchase...
  • Think college is expensive now? Wait until July 1

    06/26/2014 5:43:45 PM PDT · by SeekAndFind · 5 replies
    CNBC ^ | 06/26/2014 | Sharon Epperson
    Congratulations, graduates, on your diploma. Now what about that $29,000 student loan debt? More than 70 percent of graduates will carry student debt into the real world, according to the Institute for College Access and Success. And the average debt is just shy of $30,000. But the news will get worse next week when interest rates on student loans are set to rise again. Though federal student loan rates are fixed for the life of the loan, these rates reset for new borrowers every July 1, thanks to legislation that ties the rates to the performance of the financial markets....
  • The Wrong Reform on Student Debt: Obama's so-called "Reform" overlooks the real problem

    06/11/2014 7:38:04 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 06/11/2014 | The Editors
    There are plenty of problems with American higher education: Its price keeps rising rapidly, some qualified students still don’t have access to it, and others end up at institutions for which they are ill suited. President Obama proposed a plan this week to enable existing student-loan borrowers to lower their payments, which addresses none of these concerns. Student debt is a real problem, but the cost of college is a much bigger one, and this is a temporary salve, applied unevenly. A number of federal programs already limit annual payments on recently issued student loans to a certain percentage of...
  • Student Debt Overload

    05/27/2014 7:59:50 AM PDT · by Academiadotorg · 19 replies
    Accuracy in Academia ^ | May 24, 2014 | Spencer Irvine
    Beth Akers, a fellow at the center-left Brookings Institute, conducted an interesting study on how student loan debt affects certain Americans of varying education levels, ranging from high school through post-graduate study. Her study, entitled, “How Much is Too Much? Evidence on Financial Well-Being and Student Loans,” was published by the American Enterprise Institute (AEI). college grad hire me Akers found that students who finance large sums through student loans, from both federal and private lenders, “face financial hardship at only slightly higher rates than comparable households with less debt.” Yet, she found “the highest rates of financial hardship are...
  • College Isn't For Everyone

    04/06/2014 5:26:49 AM PDT · by Kaslin · 85 replies
    Townhall.com ^ | April 6, 2014 | Kevin Glass
    In his first address to Congress after being sworn in as President of the United States, President Obama laid out an aggressive progressive agenda for increasing the number of Americans with college degrees over the next ten years. "We will provide the support necessary for you to complete college and meet a new goal," he promised Americans, "by 2020, America will once again have the highest proportion of college graduates in the world." President Obama's goal here completely misdiagnoses what ails our higher education system. A culture that encourages and a government that and subsidizes higher education has driven up...
  • Students and parents rejecting costly college loan burden

    03/08/2014 5:14:01 PM PST · by usalady · 10 replies
    Examiner ^ | March 8, 2014 | Martha
    Students and parents rejecting costly college loan burdens Higher education accompanied by student debt is losing its appeal for many college-age Americans and their parents. The result could be a move by many colleges and universities to find ways to cut costs and even offer tuition discounts.
  • The Student Debt Debacle

    02/19/2014 11:44:00 AM PST · by rightwingerpatriot · 17 replies
    Rightwingpatriot.com ^ | February 19, 2014 | Rightwingerpatriot
    Student debt is spiraling out of control and has been for some time. Many people borrow money in order to go to college, but the actual numbers are rather astounding when you look at them. Personally, I think that this is a ticking time bomb that will have a major impact upon the economy in the future. Earlier this week, I came across a news story talking about how first time homebuyers were being turned away due to their student loan amounts. It seems that they're learning that borrowing heavily actually has an impact upon your credit. (Surprise and welcome...
  • What Happened to the $1 Trillion of Student Debt?

    08/08/2013 11:29:20 AM PDT · by William Tell 2 · 11 replies
    MainStreet.com ^ | 8-8-13 | Michael P. Tremoglie
    NEW YORK (MainStreet)— The Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman Rohit Chopra recently responded to those who asked the CFPB about the status of the $1 trillion that has already been borrowed to pay for college tuition. An August 5 article by Chopra paints a bleak portrait. Chopra found ...
  • CBO: Feds siphoning billions from student loan program to fund Obamacare

    07/02/2013 6:47:46 AM PDT · by markomalley · 28 replies
    Callous Reform ^ | 6-28-2013 | Josiah Ryan
    The Affordable Care Act is set to cost students enrolled in the government’s loan program $8.7 billion in extra interest over the next decade, according to a report published by the non-partisan Congressional Budget Office (CBO). If savings were kept inside the loan program, instead of transferred to Obamacare, as some Republican senators are suggesting, they could allow the Department of Education to lower student interest rates to 5.3 percent from 6.3 percent, according to the CBO. The nearly $9 billion being used to fund Obamacare is derived from $61 billion the government says it will save by administering student...
  • Duke Grad Student Secretly Lived In A Van To Escape Loan Debt

    06/09/2013 1:47:23 PM PDT · by thecodont · 65 replies
    San Francisco Chronicle / SFGate.com ^ | Published 12:53 pm, Friday, June 7, 2013 | Mandi Woodruff, provided by Business Insider
    By the time Ken Ilgunas was wrapping up his last year of undergraduate studies at the University of Buffalo in 2005, he had no idea what kind of debt hole he'd dug himself into. He had majored in the least marketable fields of study possible –– English and History –– and had zero job prospects after getting turned down for no fewer than 25 paid internships. "That was a wake-up call," he told Business Insider. "I had this huge $32,000 student debt and at the time I was pushing carts at Home Depot, making $8 an hour. I was just...
  • House backs variable rate student loans

    05/23/2013 2:00:30 PM PDT · by Olog-hai · 8 replies
    Associated Press ^ | May 23, 2013 4:47 PM EDT | Philip Elliott
    Dismissing a veto threat from President Barack Obama, lawmakers in the House passed legislation that links student loan rates to the ups and downs of the financial markets in a vote largely along party lines. The Republican-backed bill would allow students to dodge a scheduled rate hike for students with new subsidized Stafford loans next month, but rates could rise in coming years. Democrats largely opposed the measure—which they branded the “Making College More Expensive Act”—while the Republican chairman of the Education Committee labeled the legislation a starting point for negotiations with the Senate and White House. … Interest rates...
  • College Bubble Bursts After Decades of Extravagance

    05/09/2013 6:50:11 AM PDT · by Kaslin · 50 replies
    Townhall.com ^ | May 9, 2013 | Michael Barone
    Markets work. But sometimes they take time. That's the uncomfortable lesson that proprietors of America's colleges and universities are learning. For many years, market forces didn't seem to apply to them. There was a widespread societal consensus that a college education was a good economic investment. Politicians gave lip service to the idea that everyone should go to college. No one should be stopped by a lack of money. There was historic precedent. The G.I. Bill of Rights vastly expanded college populations and helped build prosperous post-World War II America. Putting even more through college would make us even more...
  • The Sobering Link Between Student Debt and Housing

    05/06/2013 9:07:12 AM PDT · by SeekAndFind · 6 replies
    Motley Fool ^ | 04/13/2013 | Amanda Alix
    The housing market has been steadily improving, lifting the stocks of homebuilders like Beazer Homes (NYSE: BZH ) , Hovnanian (NYSE: HOV ) , and PulteGroup (NYSE: PHM ) to heights not seen since the mortgage crisis. Indeed, a recent Federal Reserve survey noted that housing helped buoy the economy during the first two months of this year, along with auto sales. But housing isn't out of the woods yet. While the most recent Census Bureau data shows that housing starts were up considerably, building permits were down from February, putting the brakes on many homebuilders' upward stock price trajectory....
  • More bad news for student loan borrowers (Banks getting more cautious lending for College tuition)

    04/22/2013 1:23:21 PM PDT · by SeekAndFind · 11 replies
    Fortune ^ | 04/22/2013 | Nin-Hai Tseng
    Graduation season is upon us. It used to be that in the years after hopeful 20-somethings bid farewell to campus life, they'd start borrowing to buy many things typically associated with adulthood – namely, a car and a home. Many had college loans to repay, but that's partly what made brainy go-getters so attractive to banks and lenders. They typically earn more over a lifetime, so they seemed like a safe bet. They may still be, but times have changed. College debt may have once been the good kind of debt, but the scale has grown so big that in...
  • 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...
  • The student loan debt bomb (Now tops total credit card debt for the first time)

    12/10/2012 8:06:56 AM PST · by SeekAndFind · 14 replies
    American Thinker ^ | 12/10/2012 | Rick Moran
    Bill Bennett has an excellent column at CNN on the looming crisis of excess student debt: Last week, the Federal Reserve Bank of New York reported that student loan debt increased to $956 billion, more than auto loan debt or credit card debt. More worrisome, student loan 90-day delinquency rate increased to 11% this past quarter and for the first time exceeds the "serious delinquency" rate for credit card debt.Student loan debt is reaching bubble-bursting levels. By comparison, in October 2007, the start of the subprime mortgage crisis, 16% of subprime mortgages were 90 days delinquent, according to Federal...
  • U.S. debt load falling at fastest pace since 1950s

    09/30/2012 1:40:43 PM PDT · by sopwith · 58 replies
    market watch ^ | June 8, 2012, | Rex Nutting
    WASHINGTON (MarketWatch) — Everyone knows America has too much debt. What they don’t know is that things are getting better, not worse. Little by little, our economy is reducing its debt burden, slowly repairing the damage caused by 10, 20 or 30 years of excess. If you want to know why economic growth has been so tepid, here’s your answer. Four years after the storm hit, the economy is still deleveraging. And it’s very hard for any economy to grow when everyone is focused on increasing their savings.
  • Debt Collectors Cashing In on Student Loan Roundup

    09/09/2012 6:47:49 AM PDT · by Uncle Chip · 46 replies
    The New York Times ^ | Sept 8, 2012 | Andrew Martin
    At a protest last year at New York University, students called attention to their mounting debt by wearing T-shirts with the amount they owed scribbled across the front — $90,000, $75,000, $20,000. “I couldn’t believe the accumulated wealth they represent — for our industry,” the consultant, Jerry Ashton, wrote in a column for a trade publication, InsideARM.com. “It was lip-smacking.” Though Mr. Ashton says his column was meant to be ironic, it nonetheless highlighted undeniable truths: many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in. As the number of people taking...
  • Ill. state workers forced to attend Pelosi, Jackson Jr. event on taxpayer dime

    08/13/2012 11:01:05 PM PDT · by Jahoohio · 8 replies
    dailycaller.com ^ | 8/14/12 | Matthew Boyle
    Documents and a whistle-blower affidavit obtained by The Daily Caller charge that House Minority Leader Nancy Pelosi, Illinois Democratic Rep. Jesse Jackson Jr., and Rev. Jesse Jackson Sr., participated in an unethical — and possibly illegal — effort to force 76 employees of an Illinois state agency to engage in political activity on the taxpayers’ dime. According to the whistle-blower, Rev. Jackson also encouraged the government employees to load first-generation and low-income college students up with student loan debt — because Democrats in Congress, he allegedly promised, would eventually pass laws to forgive that debt later. “[T]hose people will continue...
  • ECONOMICS PROFESSOR: The Media Has Totally Overblown The Student Debt Crisis

    06/13/2012 9:30:14 AM PDT · by SeekAndFind · 12 replies
    Business Insider ^ | 06/13/2012 | Aimee Groth and Danielle Schlanger
    The debate over the student debt crisis is still raging, and economists everywhere are weighing in. University of Michigan economics professor Susan Dynarski and University of Virginia economics and education professor Sarah Turner recently wrote an article for CNN Money, where they blamed the media for hyperbolizing how many students are actually saddled with debt. They pointed to a report from the New York Federal Reserve Bank that showed fewer than 1 in 30 students have debt loads over $100,000, and a report from College Board showing average debt is $22,000, adjusted for inflation. Dynarski and Turner say it's entirely...
  • Let's Drop the College-For-Everyone Crusade

    05/29/2012 4:08:47 AM PDT · by SeekAndFind · 41 replies
    RCM ^ | 05/29/2012 | Robert Samuelson
    The college-for-all crusade has outlived its usefulness. Time to ditch it. Like the crusade to make all Americans homeowners, it's now doing more harm than good. It looms as the largest mistake in educational policy since World War II, even though higher education's expansion also ranks as one of America's great postwar triumphs. Consider. In 1940, fewer than 5 percent of Americans had a college degree. Going to college was "a privilege reserved for the brightest or the most affluent" high-school graduates, wrote Diane Ravitch in her history of U.S. education, "The Troubled Crusade." No more. At last count, roughly...
  • Mark Cuban: The Student Debt Crisis Is The Biggest Economic Problem In America

    05/26/2012 7:51:11 AM PDT · by SeekAndFind · 47 replies
    Business Insider ^ | 05/25/2012 | Mark Cuban
    This is what I see when i think about higher education in this country today: Remember the housing meltdown? Tough to forget isn’t it. The formula for the housing boom and bust was simple. A lot of easy money being lent to buyers who couldn’t afford the money they were borrowing. That money was then spent on homes with the expectation that the price of the home would go up and it could easily be flipped or refinanced at a profit. Who cares if you couldn’t afford the loan. As long as prices kept on going up, everyone was happy....
  • U.S. should trade student debt for public service

    05/16/2012 10:04:52 AM PDT · by SeekAndFind · 24 replies
    NJ Star Ledger ^ | 05/16/2012 | Dawood Farahi and Benito Nieves
    If ever there were an issue that ought to unite Democrats and Republicans, it should be the nation’s burgeoning student debt crisis. No elected official, regardless of ideology, should be in favor of burdening our young people with crushing debt simply because they followed their dream of attaining a college degree. During a recent conference call between President Obama and higher education officials, students and political leaders, we were struck by the urgency in the president’s voice. He clearly understands that student debt is more than a “manufactured crisis,” as Senate Minority Leader Mitch McConnell of Kentucky described it. It...
  • House GOP set to curb college student loan costs

    04/27/2012 2:33:07 AM PDT · by Olog-hai · 7 replies
    AP via Atlanta Journal Constitution ^ | 4:21 a.m. Friday, April 27, 2012 | Alan Fram
    Republican leaders are ready to try pushing legislation through the House holding down interest rates on federal loans to millions of college students. Democrats say that's a goal the GOP has adopted only lately, but the top House Democrat is opposing the measure anyway in a fight that highlights how election-year politics is coloring Congress' work. The House planned to vote Friday on the bill, which would keep interest rates at 3.4 percent for subsidized Stafford loans, instead of rising as scheduled to 6.8 percent on July 1. The GOP-written package would cover its $5.9 billion cost by plucking money...
  • Obama Lies to Students

    04/25/2012 11:55:15 AM PDT · by yoe · 6 replies
    Power Line ^ | April 24, 2012 | John Hinderaker
    Barack Obama is on a pandering tour of college campuses, trying to generate enthusiasm for his re-election campaign by warning that interest rates on student loans will rise if Congress doesn’t act by July. That is true; the Democratic Congress wrote the legislation that way, and Obama signed it. Coincidentally, no doubt, Obama’s campus appearances will all be in swing states like North Carolina, where he spoke today. Whether it is a good idea to subsidize the higher education bubble is highly debatable, but it is not a point of differentiation between Obama and Mitt Romney, who also favors extending...
  • Student debt: How big a risk does it pose to the economy?

    04/25/2012 6:04:41 AM PDT · by SeekAndFind · 17 replies
    CS Monitor ^ | 04/25/2012 | Mark Trumbull
    Surging student-loan debt has become a burden on the US economy – and President Obama is warning of a "tremendous blow" that could occur for millions of students in the form of an interest-rate hike in July. So how big is this issue? Does student debt represent a brewing crisis? Student loans pose a significant financial challenge for America, some economists say, but in a way that's different from the big buildup in mortgage debt that ended in a housing bust and deep recession. "It's not a bubble that will burst," says Chris Christopher, an economist at IHS Global Insight...
  • Looming Student Debt Crisis Hits the Senate

    03/28/2012 9:13:57 AM PDT · by SeekAndFind · 19 replies
    US News ^ | 03/28/2012 | EQUAL JUSTICE WORKS
    On March 20, your Student Loan Ranger attended "The Looming Student Debt Crisis: Providing Fairness For Struggling Students," a Judiciary Subcommittee on Administrative Oversight and the Courts hearing. (You can watch a video of the hearing, and we'll give a prize to the first person who sends us a frame showing the Student Loan Ranger in the audience!) Obviously, that is right up our alley. And the fact that Sen. Dick Durbin (D-Ill.) convened the hearing, even though he's not a member of the Subcommittee, piqued our interest, because Durbin is the sponsor of the Fairness for Struggling Students Act...
  • 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.
  • Anaemic recovery risks America's appetite for degrees (Is Student Debt the next financial crisis?)

    12/08/2011 6:39:54 AM PST · by SeekAndFind · 20 replies
    The Telegraph ^ | 12/08/2011 | Richard Blackden
    The Occupy Wall Street movement is a big tent of concerns and deliberately so. Keeping the flaps open draws in as many people in as possible, even if it does prevent the movement from issuing a list of demands. But a visit to its Manhattan base in Zuccotti Park quickly reveals that a binding hardship for many of the younger protesters is their student debt. It’s an impression strengthened by “ We are the 99 Percent”, a slogan invented by the movement, and the address of a website that’s an online home for hundreds of people’s stories. Debt taken on...
  • The Solution to Student-Loan Debt (Student loans now exceeds all credit-card debt. What went wrong?)

    10/21/2011 1:40:38 PM PDT · by SeekAndFind · 58 replies
    National Review ^ | 10/21/2011 | Richard Vedder & Andrew Gillen
    Headlines are proclaiming this week that student-loan debt is rapidly nearing a trillion dollars. Earlier this year, as financial expert Mark Kantrowitz has noted, another landmark was achieved: Student borrowing now exceeds all credit-card debt. While the data here are somewhat murky and questionable, under any accounting they add up to big bucks. There are three worrisome trends. First, student debt is doubling every seven years or so, growing much faster than credit-card balances, home-mortgage obligations, or commercial loans. At some point, this will become unsustainable as debt burdens overwhelm borrowers’ ability to repay (sounds familiar, doesn’t it?) — particularly...
  • Congratulations! You’re in Debt (America's Total Student Debt Just Surpassed Credit Card Debt)

    05/20/2011 6:24:50 AM PDT · by SeekAndFind · 28 replies
    National Review ^ | 05/20/2011 | Rich Lowry
    Amid all the uplifting clichés at their commencement ceremonies, graduating college students won’t hear a line applicable to some of them — you got ripped off. Student debt just surpassed the country’s credit-card debt for the first time. It is projected to top $1 trillion this year, according to the New York Times, when it was less than $200 billion in 2000. For the class of 2011, the mean student-debt burden is nearly $23,000, up 8 percent from a year ago. There’s no doubt that graduating from college brings a significant economic advantage, but that doesn’t excuse the waste and...
  • Student Loan Debt Hell: 21 Statistics That Will Make You Think Twice About Going To College

    05/01/2011 9:43:22 AM PDT · by SeekAndFind · 57 replies
    The Economic Collapse ^ | 05/01/2011 | Michael Snyder
    Is going to college a worthwhile investment? Is the education that our young people are receiving at our colleges and universities really worth all of the time, money and effort that is required? Decades ago, a college education was quite inexpensive and it was almost an automatic ticket to the middle class. But today all of that has changed. At this point, college education is a big business. There are currently more than 18 million students enrolled at the nearly 5,000 colleges and universities currently in operation throughout the United States. There are quite a few "institutions of higher learning"...
  • Harvard study: Hey, maybe we’re placing too much emphasis on a college education

    02/03/2011 1:01:25 PM PST · by SeekAndFind · 78 replies
    Hotair ^ | 02/03/2011 | Allahpundit
    You think? Can it really be that incurring tens of thousands of dollars in debt to attend a private university where most of what you learn won’t be relevant to your career is a bad investment?Everything I thought I knew about the world is … pretty much confirmed here, actually. A new report released by Harvard Wednesday states in some of the strongest terms yet that such a “college for all” emphasis may actually harm many American students – keeping them from having a smooth transition from adolescence to adulthood and a viable career…“It would be fine if we had...
  • 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...