If only the burden of repaying student loans could be as simple as taking them out. But the truth is: it’s a difficult process which millions of college grads must come to grips with. Unfortunately, many borrowers fail to manage their student loans successfully. Records show that of the $1.2 trillion student loan debt, about […]
Student Debt
Parents Beware – What You Need To Know Before Co-Signing a Student Loan
The number of private loans with co-signers has increased from 67% in 2008 to 90% last year, according to Consumer Financial Protection Bureaus. The bad news is that four in ten young graduates fail to pay back their debts. An equally bad news, according to the bureau’s report, is that 90% of parents who co-signed […]
Ways to Recover From Your Defaulted Student Loan
The rising cases of unemployment is taking a toll on the new college graduates who are behind on their student debts. The National Center for Education Statistics reports that some 651,000 (or 13.7%) of the 4.7 million students who started paying back their student loans in 2011 defaulted before the end of 2013. Defaulting means […]
The Obama Student Loan Forgiveness Program
In 2013, Fair Isaac Corp. (FICO) released an analysis of 10 million credit files. They discovered that from 2005 to 2012 the average student debt load soared up from $17,233 to $27,253. According to Dr. Dr. Andrew Jennings, FICO’s chief analytics officer and head of FICO Labs, this is an unsustainable situation and it’s dragging […]
Should the Federal Government be Making Massive Profits Off Student Loan Debt?
Donald Trump is not happy with the federal government making billions off the student loan. “That’s probably one of the only things the government shouldn’t make money off — I think it’s terrible that one of the only profit centers we have is student loans,” says Trump in an interview by the Hill. Trump is […]