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Student debt burden hits $1 trillion
Sally Herships Apr 25, 2012
At $1 trillion nationally, student debt surpasses credit card debt and car loans, and it can be a serious drag on the economy.
Senator Dick Durbin on student loans and student debt
Jeremy Hobson Mar 30, 2012
The amount of outstanding student loan debt in this country has reached $1 trillion. And if you scan the headlines this week, you'll find school after school raising tuition, which will almost certainly send that $1 trillion number up even further.
Emergency savings: Expenses or aftertax salary?
Chris Farrell Mar 26, 2012
I'm a 36-year-old single professional in the DFW metroplex that tries to think long-term in my financial planning. I put 12 percent of my around $100,000 salary into my 401(k) with company match. Currently, the retirement fund is valued at about $100,000. I owe about $12,000 on my student loans (4.25 percent fixed interest, originally $80,000) and I have about 27 percent equity in my $180,000 town home. I recently refinanced my home at 4.125 percent for 15 years. My credit card debt is maybe $1,000.
After surviving a layoff well (due to a generous severance in the Great Recession), I was scared straight once I started working again. I now have about $15,000 in an emergency fund and next year's bonus will go to this, too. So I have three questions:
1) Do I need 6 months of bills or 6 months of salary after tax?
2) Should I park this in savings? Or is there a better financial instrument?
3) Is the emergency fund a higher priority than nuking the graduate school debt?
I appreciate your guidance. Keith, Plano, TX
Student loan debt collectors under the microscope
Kai Ryssdal Mar 26, 2012
Are debt collectors working for the Department of Education letting debtors know their rights? Bloomberg's John Hechinger discusses the rights of borrowers.
For-profit schools add to record student-loan debt
Eliza Ronalds-Hannon Mar 7, 2012
University budget cuts are driving more students to for-profit colleges, but the debt load there is often higher and future prospects slimmer.
Bankruptcy lawyers warn of student loan 'debt bomb'
Amy Scott Feb 10, 2012
A new study reports that student debt in this country could be the next “debt bomb," a major economic threat not unlike the mortgage crisis. And this time, there’s no way to get rid of the debt through bankruptcy.
Soaring student loan debt has bankers nervous
Joel Patterson Jan 12, 2012
As the cost of an education rises and students borrow to cover the costs, lenders worry about recouping funds.
Federal student loan funding could be cut
Amy Scott Dec 15, 2011
The countdown begins in Washington to come up with a budget before midnight tomorrow, and one place cuts could come from are federal student loan programs.
How the cost of college could be lowered
Steve Henn Dec 5, 2011
President Obama meets at the White House today with a small group of university and college presidents on how to reduce the cost of higher education. But the answers might have to come from the schools themselves.
Thinking about loan payments
Chris Farrell Nov 18, 2011
I have a student loan that is on an extended payment plan with a variable rate that is tied to prime. Currently, the rate is 2.11%. I have money available that I could put toward the loan, but at this interest rate, it seems advisable to invest the money. However, at some point down the road when the rates go back up, I may wish that I had paid off the loan early. Do you have any advice as to the best approach for paying off such a variable rate loan? Wendell, Rochester, NY
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