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student debt

Heavy Student Loan Debt Forces Many Millennials To Delay Buying Homes

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.

States Review Laws Revoking Licenses For Student Loan Defaults

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 with," she says.

U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion

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 December 2018, and unpaid student debt also rose to the highest ever.

Student loan nightmare: 'I have to start all over'

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.

We Must Cancel Everyone ’ s Student Debt, for the Economy ’ s Sake

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.

Alexander's Loan-Repayment Overhaul

Student advocates have for years complained about the complex set of options borrowers must navigate to repay their student loans. Student loan borrowers are faced with a dizzying nine repayment plans based on their income, in addition to a standard 10-year loan-repayment plan.

There's a growing consensus that Congress should reduce those options to one income-based option on top of the standard plan.

The disturbing trend of people losing Social Security benefits to student debt

To recoup student-loan debt, the government is leaving people who rely on Social Security with benefits that

fall below federal poverty guidelines, the Government Accountability Office said Tuesday.

The number of older Americans defaulting on education loans has steadily increased in recent decades, as many

have returned to college or co-signed loans for family members. Unpaid debt has resulted in the government

garnishing the benefits of 114,000 people age 50 and older in the past year, more than half of whom were

HauntedbyStudent Debt Past Age50

The experience of being crushed by student debt is no longer limited to the young. New federal data shows millions of Americans who are retired or nearing retirement face this burden, as well as the possibility of having their Social Security benefits garnished to make payments.

Learn How to Transfer Parent PLUS Loans to a Child

When it comes to helping Neela Hummel's mother-in-law repay the parent PLUS

(https://www.usnews.com/education/best-colleges/paying-for-college/student-

loan/articles/2010/08/17/parent-plus-loans-frequently-asked-questions) loans she borrowed years ago for

Why Senior Student Loan Debt Is More Complicated

With more sources of debt and fewer repayment options, seniors are nowthe fastest-growing age group for student

loan debt.

We’ve all heard about the dire straits today’s college students face

upon graduation: tens of thousands of dollars in student loan debt that

they may never be able to fully repay. But what about senior citizens?

The truth is, Americans aged 60 and over are in a financial situation

just as alarming.

According to the Federal Reserve Bank of New York, by the end of

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“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
"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
"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
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum