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.
Over the years I have seen many retirement plans ruined, simply because substantial amounts of investment dollars, originally allocated for retirement, were used to pay for college education.
Want to go to college but wish you could avoid tuition? It's possible. Schools throughout the country offer free tuition to admitted students. But read the fine print. Students may have to hail from a certain state or region or come from a low-income background. Some schools require on-campus work or service after graduation.
Updated on Sept. 10, 2018: This list has been updated to reflect information for the 2018-2019 school year.
It looks like things haven't improved much for student loan borrowers: 99.5% of people who applied for public service loan forgiveness have been rejected.
Here's what you need to know and what to do about it.
Student Loan Forgiveness: Debt Statistics
The U.S. Department of Education released the latest statistics for public service loan forgiveness:
As of September 30, 2018, 41,221 student loan borrowers submitted 49,669 applications for public service loan forgiveness.
Of that total, approximately 44,700 applications have been processed.
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.
There's nothing wrong with earning a college degree that will actually help you make money. For students who are interested in earning a good salary without pursuing a graduate degree a major from this list is a good place to start.
In our report on the Top 25 Highest Paying Majors, we found that the list was dominated by engineering majors. However, this list was based on entry-level salaries, or how much these undergraduate majors earn for their first job right out of college.
A high entry-level salary, however, does not always equate to the best-paying job at the mid-career level. Why? For one reason, some jobs have caps in place that limit how much you can make without going on to get a master’s or Ph.D.
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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“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
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
"There is scarcely anything that drags a person down like debt."
