Student loan debt isn’t just a problem for millennials. It’s following baby boomers into retirement as well.
The government has collected about $1.1 billion from Social Security recipients of all ages to go toward unpaid student loans since 2001, including $171 million in 2015, the Government Accountability Office said in December.
Good news for student loan borrowers burdened with debt: the U.S. is on pace to forgive at least $108 billion in student debt over the next 10-20 years, according to a report from the Government Accountability Office.
It just keeps getting worse. Student debt has topped $1.4 trillion, nearly more than all of the credit card and car loan debt in the U.S., according to NBC 12. And that number is growing by the second, leading many borrowers to question whether college was worth the cost. Student loan debt a widespread problem The problem is […]
Many of the statistics on student debt in America are shocking — and it’s only getting worse.
National student debt has surpassed $1.3 trillion and is growing by the second.
With the average college student graduating with over $37,000 in student debt in 2016, the trend will only continue.
While 401(K) contributions have traditionally been a benefit companies used to lure talented employees, innovative companies are beginning to offer a new benefit that their millennial employees need even more: help paying their student loans. A recent article in The Hechinger Report discussed the rise of employee benefit programs aimed at helping employees pay student debt. […]
We often discuss the dangers of taking on more student debt than you’ll be able to repay. A recent Boston Globe article highlights the difficulty many students, particularly those who are low-income, have with repaying their student loans after graduation. Comparing college net price to graduate salaries In the interactive graphic below, you can see […]
Your student loan debt can affect your credit, which affects whether you’ll be able to buy a car, house or take out a loan in the future.
But a new study shows nearly half of all student loan borrowers don’t know that, according to CNBC.
Before taking out student loans, it’s important to educate yourself about the types of student loans and understand how interest and repayment work so that you can put yourself in a good position to repay them in the future.
We’ve written about the consequences of not paying your student loans, such as having your wages garnished and your credit damaged.
But it turns out the repercussions could be much higher. According to the NY Daily News, a man in Houston was recently arrested by seven U.S. Marshals armed with automatic weapons for not paying a $1,500 student loan from 1987.
Despite the many alternative repayment plans available, Americans are behind on their student loans more than any other kind of debt.
A new report from the Federal Reserve Bank of New York finds that borrowers are having a much harder time paying off their student loan debt than their credit cards, mortgages, and car loans.
What would you do if you could have all of your student loans paid off?
A lot, most students say, including taking a punch from boxer Mike Tyson.