Conventional wisdom has always held that student loan debt is "good debt". Meaning it is debt taken out for a long-term investment - like a mortgage on your home, which will pay dividends in the future. What kind of dividends? Well, we know, for example, that college graduates make an average of one million dollars more over their life-time than non-college … [Read more...] about How to Reduce Your Student Loan Burden
Student Loans Info
Financial Aid Programs Affected By Budget Woes
The U.S. Congress is struggling to agree on the budget and whatever state you live in is struggling too. One of the big problems is that much of the fluff has already been cut and there are not a lot of discretionary areas to reduce spending. Education is one of the targets. How does that affect you? One proposal would have the Pell grant reduced by 15%. … [Read more...] about Financial Aid Programs Affected By Budget Woes
Congress Debating Student Loan Bankruptcy Law
A new law to make private student loans eligible for discharge in a bankruptcy is being debated by the U.S. Congress. It is stands right now, no student loans -- neither federal nor private -- can be discharged in a bankruptcy. Unlike home loans, car loans and credit card debt, so-called "education loans" are exempt from bankruptcy laws. But private student loans, which … [Read more...] about Congress Debating Student Loan Bankruptcy Law
Student Loan Program to Undergo Major Changes
Hey all - We'll have more on this later, but wanted to give you a head's up on changes to the federal student loan program. The new legislation was attached to the health care bill, which passed on Sunday, March 21, 2010. The senate still must have its say but it appears the legislation will pass. Generally speaking the legislation will overhaul the student loan industry, … [Read more...] about Student Loan Program to Undergo Major Changes
In the News: Student Loans Jump 25% in 2009
The U.S. Education Department recently released numbers showing that the total amount of money borrowed by students in the 2008-2009 grew by 25%, to $75.1 billion, over the previous year. The number has been rising for many years, but this bump is the largest on record. The deputy undersecretary of the Education Department, Robert Shireman, has said that this increase was … [Read more...] about In the News: Student Loans Jump 25% in 2009