Sections SEARCH Skip to content Skip to site index Your Money Subscribe Log In Log In Today’s Paper Your Money | Interest Rates on New Federal Student Loans Will Dip Slightly Advertisement Supported by Your Money Adviser ByAnn Carrns May 17, 2019 College borrowers will get a small break in the coming school year, as interest rates on new federal student loans fall slightly this summer. Rates had risen in the last two years. But rates on federal loans taken for the next academic year will drop more than half a percentage point, said Mark Kantrowitz, publisher and vice president of research at Savingforcollege.com. Mr. Kantrowitz calculated the new rates using the federal government’s formula. (The Education Department has not formally announced the rates.) Since 2013, rates on student loans have been set by a formula based on the sale of 10-year Treasury notes each spring. The new rates will … [Read more...] about Interest Rates on New Federal Student Loans Will Dip Slightly
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By WSJ Sun., March 17, 2019 The idea of need-blind college admissions is simple: Applicants are accepted or denied entry based on their merits, not on their ability to pay the tuition bill. The reality is a bit more complicated in that not all schools with need-blind admissions policies provide students with enough grants and scholarships to make the education affordable. Indeed, only 32 of the 102 colleges that currently have need-blind admissions policies for domestic applicants guarantee full financial aid without loans to all accepted students who need it, says Mark Kantrowitz, publisher of Savingforcollege.com. The debate over whether a student’s ability to pay should be known from the start is heating up as the sticker price of attending college continues to grow. According to the College Board’s Trends in College Pricing, the average published cost for a four-year public school (including tuition and fees and room and board) for the 2018-19 school … [Read more...] about Should All College Admissions Become Need-Blind?
provided by Published 9:00 am CDT, Tuesday, March 12, 2019 MoneyTips No More Collegiate Debt Could the next drag on America's economy come from student loans?According to StudentLoanHero.com, America's student loan debt burden hit $1.56 trillion – more than any other kind of household debt except for mortgages. Student loans are one of the most pervasive debts. The Department of Education offers assistance programs, but participants who don't exactly follow loan servicer instructions can rack up unanticipated interest charges or lose debt forgiveness. If you fall behind with payments, you're stuck dealing with debt collectors – because student loans generally can't be discharged in bankruptcy. Help for current and future students may come from Congress, thanks to the recently proposed Debt-Free College Act. The bill's sponsor, Sen. Brian Schatz (D-HI), aims to improve state funding for public universities through federal incentives. The proposed bill would … [Read more...] about New Law Proposed To End College Debt
Susan Tompor Detroit Free Press Published 6:00 AM EST Jan 27, 2019 A "Saturday Night Live" sketch in January generated plenty of laughs with a fake game show called "Millennial Millions" where twenty-somethings compete for prizes, such as a chance to pay off their big student loans. But employers are increasingly recognizing that $35,000 or more in student loan debt is a serious matter that is stressing out many workers. "We're finding that more and more employees are entering the workforce with more college debt," said Maria Darbonne, manager of savings plans for Fiat Chrysler Automobiles. "We know it's overwhelming." So as we enter 2019, expect to hear more about financial wellness — including finding ways to help debt-burdened employees recover from an increasingly common financial headache. One of the latest moves: Auburn Hills-based FCA US began partnering this year with CommonBond for Business to offer a way for salaried … [Read more...] about FCA employees get chance to pay down student loans
Ryan Lane, NerdWallet Published 1:10 pm PST, Thursday, January 24, 2019 This article was first published on NerdWallet.com. It’s great to think big with your New Year’s resolution, like saying you’ll pay off your student loans in 2019. But a goal that big often doesn’t even make it to the end of January. Instead of letting an unrealistic resolution frustrate you, focus on a small change that moves the needle for your student loans for 2019. That means taking the next step toward successful repayment, no matter your situation. Here’s how. If you’re struggling with payments “There’s almost always something that can be done to help a borrower who’s struggling,” says Betsy Mayotte, president and founder of The Institute of Student Loan Advisors. The key is figuring out why you’re having trouble and whether it’s a short- or long-term issue. Then you can match a solution to your needs. For instance: … [Read more...] about Take the Next Step With Your Student Loans in 2019