college loans

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Judges in 2 States Halt Chunk of Biden Loan Forgiveness Plan

Kansas, Missouri earn temporary victory that puts the kibosh on key parts of student loan program

(Newser) - Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. The judges' rulings prevent the US Department of Education from helping many of the intended borrowers...

Reprieve for Student Loan Borrowers Ends Tomorrow

After pandemic break, millions must start repaying their loans again in October

(Newser) - Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars a month. To get ready, borrowers are cutting expenses, taking on additional work, and looking for options to reduce their monthly payments, per the AP . Megan McClelland, 38, said she'...

What It's Like to Be 30 and Ruined by Student Loan Debt
The Reality of Living With
a $100K Student Loan Debt
IN CASE YOU MISSED IT
Aug 26, 2018 2:30 PM CDT

The Reality of Living With a $100K Student Loan Debt

MH Miller is due to have it paid off in 2032

(Newser) - "I have come to think of my debt as like an alcoholic relative from whom I am estranged, but who shows up to ruin happy occasions." MH Miller's description of his roughly decade-old student loan debt might not be extreme enough. In a lengthy piece for the...

Students With Smallest Debt Most Likely to Default

Those with biggest debt tend to end up with high-paying jobs

(Newser) - Who is more likely to default on a loan: a student who borrows a few thousand dollars, or one who borrows $50,000? The answer may surprise you: According to new data from the Department of Education, students who borrow between $1,000 and $5,000 default in 34% of...

Students in Debt, It's Time to Strike
Students in Debt,
It's Time to Strike
OPINION
Feb 28, 2015 9:00 AM CST

Students in Debt, It's Time to Strike

Essayist: Modest tweaks to the system aren't enough

(Newser) - More than a dozen students who say they got suckered into big student loans launched a debt strike last week and are refusing to make payments on their federal loans. It's a good move, writes Astra Taylor in the New York Times , but it's not nearly enough. These...

At 265 Colleges, Loan Default More Likely Than Graduation

Plus: Stafford loan interest rates double

(Newser) - Bad news if you're planning to attend Texas College in the fall: You've got a 38.2% chance of defaulting on your student loans ... and just a 12% chance of graduating. USA Today found 265 colleges and universities across 40 states where the loan default rate is higher...

College Students Need Way Better Guidance on Loans

Schools aren't doing enough financial counseling: Laura McKenna

(Newser) - One part of the solution to the nation's student debt problem might not be all that hard to implement. At the Atlantic , Laura McKenna writes that college students often get remarkably little guidance about their loans and finances while in school. Sure, they talk to a faculty adviser to...

College Debt Crimping Richer Families, Too

More in upper-middle class now owe on student loans

(Newser) - What does the upper-middle class have in common with the poorer folks of America? Apparently, lots of student loans. The Wall Street Journal ran an analysis of Federal Reserve data, and found that families earning between $94,535 to $205,335 saw the biggest spike in the percentage who owed...

Student Borrowing Soars 25% to Record Levels

Students' fed loans jump 25% from previous year

(Newser) - Some two-thirds of students borrow for college today, and they’re borrowing more than ever: For the 2008-2009 school year, the federal government loaned students $75.1 billion—25% more than the year before. That’s the biggest increase on record, the Wall Street Journal reports. The trend has troubling...

Obama Kicks Off Radical College Aid Revamp

The administration's goals are both ambitious and controversial

(Newser) - President Obama’s education proposals have taken a backseat to the economy and health care, but the changes he proposes in student lending are about to ignite a fierce lobbying battle, the Washington Post reports. Obama’s plan to move all federal funds for student lending to the Department of...

Dear Mom, Dad: Please Send Bailout

Parents face tough choices as debt-ridden kids struggle to find work

(Newser) - The families of many debt-laden college graduates are pondering bailouts of their own as the job market sours, the Wall Street Journal reports. With the average student loan now $22,000, parents of some struggling grads face a tough choice—to let their kids learn a lesson about credit the...

More Lenders Dropping Student Loans

Some 900,000 students scrambling for alternate ways to pay tuition this fall

(Newser) - Continuing turmoil in credit markets has prompted more private lenders to cut back or eliminate education loans, leaving thousands of student borrowers without the cash they need for college, reports the Wall Street Journal. Last week Wachovia joined more than 2 dozen banks that have cut funds available to students,...

Credit Crunch Extends to Student Loans

Investors balk on bonds key to students, museums, cities

(Newser) - A huge new group of borrowers—from students to museums to local governments—are about to find their credit drying up, as the subprime meltdown that has already cost banks $100 billion continues to spread, reports the Wall Street Journal.  In the last few days, investors have backed away...

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