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Source Date:
09/11/2019

NPR reports Teacher Loan Forgiveness Program still not working. We encourage you to review the article and contact us to find out how this might affect you.

Tags:
forgiveness, Student Loans
Categories:
loan forgiveness, Students
Source Date:
12/31/2018

It’s too bad that Uncle Sam ever got into the college-financing business. The feds have no constitutional authority to lend money to students (or anyone else) and millions of students have gotten themselves deeply in debt for education of dubious value. Easy federal loans were essential in fueling the “college for everyone” movement that has raised the cost and degraded the educational value of earning a degree.

Often people speak of college as an “investment” but the money for it isn...

Tags:
education cost, Student Loans, Students, parent, employment
Categories:
Planning for College, Students, Parents
Source Date:
02/04/2019

Want to save money on your taxes?

Here's what you need to know about student loans and taxes.

Student Loans: Taxes

If you made payments on your federal student loans in 2018, you may be able to save money on your federal income taxes.

1. Student Loan Interest Deduction

In certain cases, you can deduct on your federal income taxes the student loan interest you paid on your federal student loans.

Your student loan servicer for your federal student...

Tags:
federal student loans, Students, budget
Categories:
Finance, Education Debt
Source Date:
12/01/2017

Tina Carr and Yvette Colon had the same goal. They wanted to build careers in the medical field, make a good living and enjoy a better quality of life. They both knew that the gateway to a brighter future would be to attend a good school that had a track record of placing its students in meaningful jobs after graduation and would give them the opportunity to pursue further education down the road. Sanford-Brown Institute convinced them they had found their dream school, but instead plunged...

Tags:
education cost, student, for profit, dept of education, forgiveness
Categories:
Students, loan forgiveness, Finance
Source Date:
01/31/2019

In Germany, riding the subway without buying a ticket is called schwarzfahren—quite literally “riding in the dark.” While it saves you money on the ticket, you’re always riding the train with a lingering fear that a fare inspector is going to discover you and slap you with a massive fine. Defaulting on your student loans is pretty much the millennial American version of schwarzfahren. You can’t ignore your student loans into going away (even declaring bankruptcy won’t get rid of them). Not...

Tags:
default, budget, student debt crisis
Categories:
Finance
Source Date:
02/01/2019

Student loan debt in the United States has more than doubled over the past decade to about $1.5 trillion, and the Federal Reserve now estimates that it is cutting into millennials' ability to buy homes.

Homeownership rates for people ages 24 to 32 dropped nearly 9 percentage points between 2005 and 2014 — effectively driving down homeownership rates overall. In January, the Fed estimated 20 percent of that decline is attributable to student loan debt.

For Millions Of...

Tags:
student debt, economy, education cost, student
Categories:
Finance, Students
Source Date:
01/28/2019

WASHINGTON — Virginians struggling with student loan debt have a new place to turn for help.

Scott Kemp is the state’s first student loan advocate.

He works within the Office of the Qualified Education Loan Ombudsman, which was established by The State Council of Higher Education for Virginia (SCHEV) at the direction of a law passed last year in the General Assembly.

Kemp’s primary focus is to assist borrowers.

“Whether they are looking for information about...

Tags:
default, student debt crisis, education cost, student
Categories:
State or College Specific, Students, Resource, Finance
Source Date:
11/18/2017

Fall behind on your student loan payments, lose your job.

Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends driver’s licenses, making it nearly impossible for people to get to work.

As debt levels rise, creditors are taking increasingly tough...

Tags:
default, license, repayment, education cost
Categories:
Parents, Students, Education Debt
Source Date:
01/28/2019

Mounting student loan debt is a serious challenge for many Americans – and individuals in some areas of the country are having a harder time repaying that debt Opens a New Window. .

Outstanding student loan debt surpassed $1.5 trillion in 2018 – second only to mortgage debt – doubling over the past decade.

Tags:
cost of living, student debt crisis, student
Categories:
Finance, State or College Specific
Source Date:
04/08/2015

In 22 states, people who default on their student loans can have professional licenses suspended or revoked. The percentage of Americans who default on student loans has more than doubled since 2003.

Butch Dill/AP

Clementine Lindley says she had a great college experience, but if she had it to do over again, she probably wouldn't pick an expensive private school.

"I could actually buy a small home in Helena, Mont., with the amount of debt that I graduated...

Tags:
student debt, default, license, repayment
Categories:
Students, Parents, Finance
Source Date:
02/18/2019

With the average student loan balance hitting $29,800 for the Class of 2018, you’re probably looking for any help you can get paying off your debt. And if you meet certain requirements, it’s possible to have a portion of your balance forgiven.

Not everyone qualifies for forgiveness: If you have private loans, for example, you’re on the hook to repay the full amount, and every forgiveness program has strict requirements. You shouldn’t count on forgiveness to get your debt under control...

Tags:
federal student loans, forgiveness, non profit, student, parent
Categories:
Finance, loan forgiveness
Source Date:
12/28/2018

Most people pursuing public service loan forgiveness discover at some point that they don't qualify, for one technical reason or another.

That may be because their loan type is ineligible or they're not in the right repayment plan.

The Public Service Loan Forgiveness program was signed into law by President George W. Bush in 2007 and allows not-for-profit and government employees to have their federal student loans erased after 10 years of on-time payments.

Just 206...

Tags:
federal student loans, forgiveness, non profit, student
Categories:
loan forgiveness, Planning for College, Finance
Source Date:
02/16/2019

Student-loan delinquencies surged last year, hitting consecutive records of $166.3 billion in the third quarter and $166.4 billion in the fourth.

Bloomberg calculated the dollar amounts from the Federal Reserve Bank of New York’s quarterly household-debt report, which includes only the total owed and the percentage delinquent at least 90 days or in default.

That percentage has remained around 11 percent since mid-2012, but the total increased to a record $1.46 trillion by...

Tags:
student debt, default, cost of living, economy
Categories:
Finance, Students, Parents
Source Date:
02/27/2017

If you qualify for student loan forgiveness, then you potentially can save thousands of dollars on your student loans.

If you work in public service, in particular, then Public Service Loan Forgiveness is a must-know program for your financial life.

However, the requirements can be confusing.

So, let's simplify it for you. Here is a go-to guide on how to qualify and apply for Public Service Loan Forgiveness:

What Is Public Service Loan Forgiveness?

The...

Tags:
student, loans, forgiveness, federal student loans
Categories:
loan forgiveness, Finance, Students, Parents
Source Date:
02/21/2018

The Public Service Loan Forgiveness (PSLF) program began in 2007 with the intent of providing a financial cushion for those who chose to work in public service. You make 120 months of income-based payments while working for a qualified organization (such as the government or a 501(c)(3) entity). Upon completion, the remaining balance of your federal loans are forgiven without having to pay income tax on the debt cancellation.

In recent years, PSLF has been attacked as a poorly...

Tags:
loans, forgiveness, education cost, student, parent
Categories:
loan forgiveness, Finance
Source Date:
04/07/2017

For years, student loan borrower advocates and concerned borrowers themselves have sounded the alarm over the future of a government program offering student loan forgiveness for public servants.

Now, just months before the initiative’s first major test, lawmakers are finally paying attention. On Thursday, a group of Senate Democrats, including Sen. Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-Mass.) sent a letter to Secretary of Education Betsy DeVos asking the Department to...

Tags:
public servants, federal student loans, education cost, forgiveness, careers
Categories:
loan forgiveness, Finance
Source Date:
10/20/2019

BATH TOWNSHIP, Mich. (AP) - The IRS is asking a wounded veteran from Michigan to pay $62,000 in income taxes on the federal government’s cancellation of his student loans.

First Lt. Will Milzarski served two tours in Afghanistan that left him with a traumatic brain injury, post-traumatic stress disorder and hearing loss. The federal government canceled $223,000 in student loan debt after deeming him totally and permanently disabled.

The 47-year-old veteran, who said the debt is...

Tags:
federal student loans, forgiveness, goverment, education cost
Categories:
loan forgiveness, Finance
Source Date:
01/02/2018

Amanda Lawson-Ross planned her career around a government loan forgiveness program. But after making payments for four years, it turns out she doesn't qualify.

Lawson-Ross was in graduate school at the University of Akron when she first heard about the Public Service Loan Forgiveness program. Launched in 2007 under the George W. Bush administration, it promises loan forgiveness to people who work at non-profits or for the government once they've made 10 years' worth of payments...

Tags:
loans, forgiveness, cost of living, education cost, student debt
Categories:
loan forgiveness, Finance
Source Date:
09/23/2014

NEW YORK (WABC) -- The government calls them deadbeat, local doctors and dentists living a life of luxury despite owing millions in student loans.

Many of the loans are from decades ago, but still haven't been paid back, hurting you the taxpayer.

They live in fancy houses, drive expensive cars, and according to the government, owe taxpayers hundreds of thousands of dollars.

"You owe almost $700,000?" Eyewitness News Investigative Reporter Jim Hoffer said.

"I am...

Tags:
default, education cost, economy, careers
Categories:
Finance, Education Debt
Source Date:
02/09/2019

Late last year, congressional Republicans passed a $1.5 trillion tax cut, which delivered the lion’s share of its benefits to the wealthy and corporations. The GOP did not justify this policy on the grounds that all corporate shareholders and trust-fund hipsters deserved to have their wealth increased. Rather, the party argued that, however one felt about making the rich richer, the tax cuts would ultimately benefit all Americans by increasing economic growth and lowering unemployment.

...
Tags:
student debt, economy, forgiveness
Categories:
Finance, Education Debt
Source Date:
02/06/2019

Love & Money is a MarketWatch serieslooking at how our relationship with money impacts our relationships with signicant others, friends and family. Most parents wouldn’ttrade the experience of raising children for anything in the world.If only it weren’t so darn expensive. Between the medical bills, child care and college tuition, it’s a wonder parenting hasn’t gone theway ofthewet nurse. Fortunately,the government offers some fairly generous tax breaks to help ease the financial burden...

Tags:
parents, economy, education cost
Categories:
Finance, Parents, Education Debt
Source Date:
02/11/2019

AMHERST - Town Manager Paul Bockelman is concerned about Hampshire College's uncertain future - and not just because he is an alumnus.

In his most recent report to the Town Council, a document that routinely discusses myriad issues in the community, Bockelman included a statement about Hampshire, which recently announced it would not accept student applicants for the coming fall semester.

"With 648 acres of land, Hampshire is a major landholder in the Town and with...

Tags:
economy, education cost
Categories:
Finance, State or College Specific
Source Date:
02/23/2019

he College Promise Campaign is a national, non-partisan initiative to build broad public support for funding the first two years of higher education for hard-working students, starting in America’s community colleges. We want the first two years of college to become as universal, free, and accessible as high school has been for nearly a century! While this is a national movement, local communities and states are leading the way to create College Promise programs, which cover tuition and fees...

Tags:
student, parents
Categories:
Planning for College
Source Date:
02/21/2019

Americans are diving deeper and deeper into the red.

As of this month, outstanding consumer debt exceeded $4 trillion for the first time, according to the Federal Reserve.

Relatively strong holiday spending, particularly in November, and increasing credit card debt added more than $41 billion in outstanding balances at the end of 2018, according to LendingTree, a loan comparison website, which analyzed the data from the Fed.

In addition, a steady rise in student loan...

Tags:
cost of living, budget, default
Categories:
Finance
Source Date:
02/22/2019

FEATURED ARTICLES

Introduction to Federal Student Loans

Several low-cost, fixed-rate loans are available to undergraduate students, graduate students, and parents of dependent undergraduate students from the U.S. Department of Education’s Direct Loans and Perkins Loans programs. Find out more about federal student loans.

Compare Student Loans: Subsidized, Unsubsidized, PLUS, and Private

The federal student loan program offers a variety of options...

Tags:
federal student loans, student, Parent PLUS, stafford
Categories:
Planning for College

Pages

"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich