The proposal would link interest rates to financial markets — specifically the 10-year Treasury note — and cap rates at 8.25 percent for undergraduate loans and 9.5 percent for graduate loans.
Ignoring your problems rarely ever makes them go away. Anna learned that the hard way when the government started garnishing her wages after she defaulted on her student loan payments. But, she says, she's thankful it happened.
Despite some movement in Congress to alter the trajectory of what you might consider an incoming personal finance missile, interest rates on some government backed student loans are set to double on July 1.
The new face of debt is young and worried. Student loans affect nearly 15 million Americans under the age of 30 and many debtors are facing tens of thousands of dollars in repayment.
The Federal Reserve Bank of New York says the country now owes close to $1 trillion in student loan debts. But in some states, the problem is worse than others.
Paying off student loans can be a long and scary venture. But one way to get a handle on how to make it an affordable experience is to take a tip from the Pilgrims.
Ken Ilgunas spent two years obsessively paying off the $32,000 he owed on his student loans. And when he decided to go back to school for a graduate degree, he figured out a way to come out the other side debt-free.
