The government is on the hook for a huge pool of student debt that is turning sour at an alarming rate. So naturally, it is turning to debt collectors for help.
The department has been sharply criticized in the past for what some allege is a troubling partnership with the private companies it pays to collect student loans .
People are getting less likely to fall behind on their mortgages or credit card bills, according to new data from the Federal Reserve Bank of New York. But student loans are the big exception.
The lender just raised a new round of financing and will move into the student debt market as part of its bid to become the next big consumer finance company.
Corinthian Colleges lured students to its high-priced courses with the promise of an escape from poverty. But mired in tens of thousands of dollars of debt they will likely never be able to repay, many now feel more stuck than ever.
The Illinois attorney general claims two student loan consolidation firms, First American Tax Defense and Broadsword Student Advantage, charge hundreds of dollars up front for products that don’t exist or are available for free.
Part of Senate Democrat Tom Harkin’s new Higher Education Affordability Act, released today. The measure could have an outsize impact on those with high levels of debt.
“I make a decent paycheck but with all the debt school gave me, I can barely make rent.” Based on Whisper posts.
So far this year, student debt has grown faster than any kind of household debt and has the highest delinquency rate.
The latest study from the New American Foundation, released today, found that about 40% of the more than $1 trillion in outstanding student loans went to finance graduate and professional degrees. And thanks to changes in repayment terms, the federal government is likely to end up bankrolling many graduate degrees.
From performance-based pay to emerging markets, the classroom is looking more and more like the boardroom.
According to Department of Education data, large percentages of business administration, culinary arts, interior design, and other programs would be deemed failing or at-risk under the Obama administration’s new guidelines.
Regulations proposed Friday will crack down on programs with low graduation rates and high student debt. Many of those are at for-profit schools like the University of Phoenix and Everest College, which get huge chunks of their revenue from federal dollars.
You laugh, but there are many things easier to do in this world than paying off those painful student loans. So. Many. Things
A new study from the New America Foundation shows that student debt is higher than ever. And that it’s growing fastest for students at for-profit colleges
More than 40% of millennials have some student debt, and 79% of them think it’s a problem. And more than half of all millennial college students do too.
Now it’s over $1 trillion, bigger than credit card debt.
Besides horrible, unending sadness.
Drives up federal deficit for 30 years, hands the bill to his kids.
“People just don’t have any money.”
They tell you it’s an investment! Unfortunately, these days you have to ask yourself if it’s really worth it.