College students from rural areas are moving to big cities for higher wages to help pay off their student loans, according to new research from the Federal Reserve.
Why it matters: A "rural brain drain" has been pulling college-educated people out of rural America and into urban areas, deepening an educational and political divide that is increasingly coming to define the country.
Americans older than 60 are saddled by student loan debt worth a whopping $86 billion — a figure that rose 161% between 2010 and 2017, the largest increase out of any age group, the WSJ reports.
Americans are shouldering around $1.48 trillion in student loan debt, and around 70% of college students who earn a bachelor’s degree borrow to attend college, according to research from Oliver Wyman, a consulting firm that focuses on banking. An employee benefit that’s gaining popularity could help ease that burden, but it may not be as good of a deal as employees think.
Amid a massive shortage of nurses, hospitals and other medical facilities are offering big hiring bonuses and other incentives to attract and retain talent.
Five-figure signing bonuses, free housing, college tuition for employees and their children.
Hospitals and other medical facilities are getting so desperate to recruit and retain nurses they're offering all sorts of pricey perks and incentives.
Nestled along the San Diego coastline, Point Loma Nazarene University is a world away from Wall Street. But the Christian liberal arts college is at the forefront of financial innovation.
Last fall, Point Loma began offering some of its 4,500 students money to pay for college in exchange for a percentage of their future earnings. The model, known as an income share agreement, requires colleges and students to take a chance on each other, a shared responsibility that attracted Point Loma.
If you have some extra cash at the end of the month and are carrying burdensome student loan debt, you might be considering paying down those loans early. But in some cases, it may be better to keep paying the loans according to your current payment schedule. Here are some examples of when it's smarter to put your money elsewhere.
The letters "CFPB" may not be much more than alphabet soup to your average student loan borrower. They stand for Consumer Financial Protection Bureau, a new-ish federal agency — created in 2011 — with a unique mission and a big effect on student lenders and for-profit colleges accused of defrauding or otherwise mistreating Americans.
Older African Americans and college students with children disproportionately bear the burden of education debt, according to a pair of reports released this week that researchers say show the need for more nuanced solutions from higher education.
As lawmakers stare down the barrel of a potential trillion-dollar deficit, they’ve already started looking for ways to stanch the bleeding. The F-35 program, a trillion-dollar boondoggle of a weapons platform that only occasionally works, isn’t really on the table. Nor are the massive tax cuts that forged the present budget shortfall. No, where legislators intend to recoup some scratch is in capping access to federal student loans for graduate students.
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The road to success is always under construction
– Lily Tomlin
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."