student loans

How I Squandered My Inheritance at Age 18

Lyn Roman inherited a small trust fund, and spent it all in a year. But the lessons she learned from her mistakes, and how she bounced back from them, have been priceless.

The Huge Costs of Student Loan Debt

Student debt in the U.S. exceeds $1 trillion. That doesn't just spell trouble for graduates--it has serious consequences for all of us. DailyFinance's Bruce Watson explains.

5 Practical Money Tips for New Grads

Beyond the usual platitudes and cliches, commencement speakers should consider giving their audiences of eager graduates these five crucial pieces of advice.

U.S. Consumer Debt Rises on More Car, School Loans

U.S. consumers borrowed more in November to buy cars and attend school, but stayed cautious with their credit cards. The Federal Reserve said Tuesday that consumers increased their borrowing in November by $16 billion from October to a seasonally adjusted record of $2.77 trillion.

U.S. Consumer Borrowing Rises to Record $2.75 Trillion

Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high. The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.

A Better Source for College Loans May Be Just Around the Corner

It can be tough to find the money to pay for college, and the federal government's flexible, low-interest student loans often aren't enough. In the past, that has only left the option of private loans, with painfully higher rates. But now, hundreds of community groups are getting into the action.

The Top 10 Most Depressing Student Loan Stories

With total student loan debt long past the $1 billion mark, activists are doing all they can to put as many faces on the crisis as possible. Their mission is simple: To convince Congress student loan debt should be dischargeable through personal bankruptcy.

Financially on Track by 30? For Too Many, It's a Pipe Dream

By the time we hit the big 3-0, we expect our lives will be on track: Careers under way, finances under control, and perhaps even a partner to share the journey with. But the downturn has knocked millions of early 30-somethings off the track they expected to follow.

3 Creative Ways to Save More for Your Child's College Education

Kids born today will need an average of nearly $250,000 for college -- and that's a lot of saving for parents to do. But there are ways beyond the obvious 529 plans and Coverdell accounts to bump up your savings -- and some require no sacrifices, nor any extra money out of your pocket.

Debtors' Prison Is Back, and Just as Cruel as Ever

To most of us, "debtors' prison" may sound like something straight out of a Dickens novel. But across the country today, predatory lenders are using a legal loophole to manipulate courts into jailing poor citizens who legitimately cannot pay what they owe.

3 College Finance Tips for Scared Students (and Their Parents)

More than 80% of parents of 16- to 18-year-olds believe college is important to their child's future -- and a similar number are worried about how to pay for it. Here are a few tips that could make solving the college financing puzzle a little easier.

Private Student Loans: Subprime Mortgages of the College World

Student loan debt is a $1 trillion issue today, but according to the Consumer Financial Protection Bureau, one fairly small part of the student loan market appears to be most responsible for many of the problems borrowers face: private student loans.

Parents Cutting Back on College Spending, Says Sallie Mae

Families are implementing more cost-saving strategies to cut college spending, choosing less expensive schools and finding more economical ways for students to attend, according to a study from Sallie Mae, the country's largest student lender.

Do You Have More Debt Than the Average American?

A new study shows that individual debt is falling at the fastest rate in nearly 50 years. But not everyone is contributing positively to that statistic, and many Americans are still struggling with overwhelming debt.

Feds Warn For-Profit Colleges: Do Better or Lose Student Aid

Former students in career-training programs at dozens of for-profit institutions have had so much trouble paying off their loans that the schools could lose access to federal student aid if they don't improve, the Department of Education reports.