A few colleges and universities help students avoid crippling debt by offering generous financial aid packages.
When it comes to debt, last year's college grads who borrowed student loans took on nearly $30,000 in loans to pay for their education, according to data reported to U.S. News in an annual survey. For that reason, college affordability is a top concern among many prospective students.
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Here's a secret to help your child grasp the real impact of student loan debt: Don't just think about the huge sum you've borrowed — focus on what you'll repay each month.
About 30 percent of college students said they feel confident with the financial terms associated with student loans, according to a survey by College Ave Student Loans. The lender recently polled 1,075 undergraduates.
The biggest issue that these young borrowers are missing is the fact that, at some point soon, they'll have to start repaying their loans each month.
As Dean of Admission and Financial Aid Katie Fretwell ’81 can attest, discussions about how much prospective students and/or their families can expect to pay for an Amherst education can often be confusing, complicated and emotional for the uninitiated. Today, those conversations may get a little bit easier.
Gov. Andrew Cuomo’s much-heralded new program for free tuition at state colleges comes with a huge catch: You have to sign years of your life away to get it.
Under a provision that was added to the tuition bill at the last moment, students who get a free ride at CUNY and SUNY schools must live and work in New York state for up to four years after graduation, or be forced to pay the money back.
The amendment — which was not part of
Cuomo’s original offer of free college for middle-class students — was added at the insistence of Republicans in the state Senate.
Broward College paid $5.6 million after a federal government review determined that more than 2,000 students received financial aid they weren’t entitled to.
The payment, imposed by the U.S. Department of Education, is significantly more than the $18,000 the college said in 2015 that it would likely have to pay after an initial federal review. At that time, the college acknowledged only that eight students were improperly paid.
ALBANY — Gov. Cuomo on Friday unveiled set of measures intended to aid New Yorkers struggling with "exploding" student loan debt.
The proposals, which will be part of Cuomo's State of the State Address next week, include new financial disclosure requirements for colleges and universities, and new consumer protection standards for the loan industry.
House Republicans are planning to propose a bill this week that would bring about drastic changes to federal loans servicing and higher education policy, The Wall Street Journal reported Wednesday. The bill is part of a push to provide students with more skills in a modern labor market, but would also do away with programs meant to ease students' borrowing burdens.
I am sure that numerous readers of this column have already seen articles about how the Trump Administration may make it easier to discharge student loans in bankruptcy. Many of us already know that student debt is extremely difficult to erase through bankruptcy. This, of course makes sense, since student loans are typically not backed by any type of collateral, so it seems reasonable that this debt would be difficult to discharge.
HUG is NOT refinancing, consolidation, settlement or bankruptcy. It will not damage or freeze your credit. Our typical client will be debt-free in half the time or less, including mortgage, credit cards, student loans and other types of debt obligations, compared to their current schedule. Most clients will pay less than 3% interest over all.
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"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
“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."
– Robert Reich
The road to success is always under construction
– Lily Tomlin
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Nothing in life is to be feared. It is only to be understood."
