Living in a Van Was the Best Financial Decision I Ever Made
Most people would consider living in a van an embarrassment, but Ken Ilungas just views it as a smart choice that let him get his graduate degree while staying debt free.
student debt
How to Pay Off Student Loans When You're Totally Out of Luck
Maybe you're out of a job, aren't earning enough, or simply don't know where to begin. What do you do if you can't pay back your student loans? Here's a guide:
Student Loan Interest Rate Set to Double: How You Can Prepare
Unless the government acts soon, rates on subsidized student loans will double as of July 1, putting further pressure on America's next wave of college students.
In the Student Loan Battle, Neither Plan's a Win for Borrowers
As President Obama takes aim at Congress' student loan proposal, it becomes clear that neither side is offering a flawless plan.
This Hidden 529 Plan Trap Could Cost You Thousands of Dollars
529 plans are a great way to save for college, but within them lies an expensive trap for the unwary. Fortunately, it's an easy trap to dodge -- if you do your homework.
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.
5 New Rules on Federal Student Loans
Interest on popular loans will cost more, and grad students will need better credit, but repayment plans will be more generous.
5 Ways to Keep College Dreams from Becoming Money Nightmares
If your dream idea of college is equal parts prestige degree and "Van Wilder," wake up to fiscal reality: Here are a few dreams you could sacrifice to keep the costs in check.
Public vs. Private Student Loans: Why the Differences Matter
College acceptance season is here, which also means it's time to think about how to pay for it. Student loans are practically a must, but there are big differences among them.
Are Free Online College Courses Worth Your Time?
You can take college courses online for free -- but can you get credit for them?
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.
How to Decipher Your College Financial Aid Letter
Feel like you need a bachelor's degree in Bureaucracy to figure out your financial aid letter? Here are our Cliffs' Notes for parsing that important but impenetrable document.
Will Echo Boomers Save the Economy? Don't Count on It
Some economists predict that Echo Boomers will save America's economic future: They're well-educated, optimistic and young. But there are big obstacles standing in their way.
Young Adults are Too Broke to Get Loans
Young adults are in less debt than they were a decade ago, but it's not because people under 35 have suddenly become fiscally responsible. It's more likely that their shaky economic status keeps them from qualifying for loans.
Money Troubles: Who's Hurting the Most in Today's Economy
The sluggish economy has made money tighter across the nation, but, no surprise, the pain isn't being shared equally. A recent survey from Bankrate asked Americans how they're feeling about their finances, and reveals which groups are struggling the most.
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.
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.
Feds Cut Social Security to Retirees Who Owe Student Debt
While most attention in the ongoing student debt crisis narrative has focused on new graduates, it turns out the federal government has been quietly targeting a different group of debtors: retirees.
Feds Cut Social Security to Retirees Who Owe Student Debt
While most attention in the ongoing student debt crisis narrative has focused on new graduates, it turns out the federal government has been quietly targeting a different group of debtors: retirees.
Woman's on the Hook for a $25,000 Student Loan She Never Knew Existed
Alice Cortes had no idea a student loan was issued under her name, and she's never heard of the man listed as a co-signer. So who is Jorge Torres, and how can Cortes resolve her $25,000 debt to Sallie Mae?
Colleges Urged to Adopt Easier- to-Understand Student Aid Form
U.S. Education Secretary Arne Duncan is urging colleges and universities to adopt an easy-to-understand financial aid form to help students make smarter decisions on where to study, how to pay and determine what they'll owe.
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.
This Bright-Eyed Young Man Was Utterly Demolished By Student Loans
Even as total outstanding student debt rises to $1 trillion, lawmakers have yet to allow loans to be discharged in bankruptcy. Without an escape clause, these loans can strangle a person. Take 36-year-old Nick Keith, who remains $142,000 eight years after graduating from culinary school.
Why to Save for Retirement First, Your Kids' Tuition Second
One of the hardest decisions parents have to make is whether to put money toward their kids' college educations or toward their own retirement. But as emotionally charged as it may be, the answer is a no-brainer.
What Happened When This Guy Paid His Student Loan in Cash
Last week, a Reddit user posted a photo of a $114,000 student loan bill-paid in cash-that elicited thousands of comments. Since then, the anonymous alum has stepped forward as Alex Kenjeev, a 2009 law school graduate of the University of Toronto.
How Low Interest Rates Could Push College Costs Even Higher
With so many young adults struggling with college debt, maintaining the current low 3.4% interest rate on Stafford loans sounds like a no-brainer. But former Education Secretary William Bennett thinks low rates will only lead colleges to become more expensive.
Student Loans: Your 5-Step Plan to Pay Them Off
The economy seems to be turning around for recent college grads, so members of the class of 2012 may have the cash to make a dent in their massive student loans. Now all they need is a plan.
Is This the Answer to the Student Debt Crisis? FixUC's 5% Solution
College tuition just keeps rising, and student loan debt is at an all-time high, leading to hefty loan payments that can overwhelm earners early in their careers. But a group called FixUC has a radical proposal to re-think tuition that could make everyone happy.