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.
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 leading to a community college degree or occupational certificate.
Parents are increasingly struggling to repay federal loans they’ve taken out to help cover their children’s college costs, according to newly released federal data.
The Parent Plus program allows parents to take out essentially uncapped amounts to cover college costs, regardless of the borrower’s income or ability to repay the loan. As the cost of college has risen, the program has become an increasingly critical workaround for families that max out on federal student loans and can’t pay the rest out of pocket.
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.
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.
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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."
