LOS ANGELES, United States—Haley Walters is 5 years away from earning her law degree. If everything goes according to plan, she will be under a mountain of $100,000 in student debt by the time she enters the workforce. Like millions of Americans, Walters is paying a steep price for an education that will likely weigh her down financially for much of her adult life. "I think the student debt crisis is truly a life sentence," the 19-year-old Californian told AFP. With 45 million borrowers owing some $1.6 trillion, the debt burden of American college graduates has exploded in recent years. It has emerged as a key issue in the 2020 presidential campaign, with candidate Bernie Sanders unveiling an ambitious plan Monday to erase all student loan debt. "Somebody who graduates from a public university this year is expected to have over $35,000 in student loan debt on average," said Cody Hounanian, program director of Student Debt Crisis, a California non-profit that assists students and … [Read more...] about Student debt a ‘life sentence’ for millions of Americans
Student debt statistics
By Kathleen Joyce Published June 07, 2019 News FOXBusiness Facebook Twitter Comments Print video Government's role in the mounting student debt crisis Former investment banker Carol Roth on efforts to solve the mounting student debt crisis in America. Chegg, an online learning service, announced Thursday that it was launching an equity program to help its employees pay off their student loans. Continue Reading Below “Under the Equity for Education program, Chegg has created an equity pool from their existing pool of stock which will be used to pay down U.S. employees' educational loans,” the company said in a statement. Chegg took the initiative and called on politicians in Washington, D.C. to support similar programs. The company said other companies should follow suit on their model for its employees. MORE FROM FOXBUSINESS.COM STATES WHERE AMERICANS HAVE HIGHEST LEVELS OF STUDENT LOAN DEBT WAS YOUR COLLEGE … [Read more...] about Chegg announces student loan payoff program for employees
Last month, Massachusetts Senator and Democratic presidential hopeful Elizabeth Warren released a student-debt plan that would forgive up to $50,000 in student loans for people with household incomes less than $100,000, forgive less in loans for those who make more and make public higher education free. Not everyone agrees it’s a good idea. But Warren’s not the only one with policy ideas they say are designed to minimize student loan debt, from President Donald Trump to Bernie Sanders. Lots of people are worried about student loan debt these days. Between 2000 and 2017, the share of U.S. residents with a bachelor’s degree or higher increased from 24 percent to 32 percent. And as the costs of higher ed rise, students are taking on more in student loans, meaning many millennials are starting their adult lives stuck with debt their parents didn’t have. Just how extensive has the student-debt burden become? To give an idea, here’s a look at the student-debt … [Read more...] about How bad is Minnesota’s student-debt situation?
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
By Brittany De Lea Published January 17, 2019 Economic Indicators FOXBusiness Facebook Twitter Comments Print video Fed research reveals mounting student loans taking a toll on the housing market WSJ Assistant Editorial Page Editor James Freeman, National Taxpayers Union Senior Fellow Mattie Duppler and FBN's Dagen McDowell on the broader economic implications of the mounting student loan crisis. The declining U.S. home ownership rate can be partially attributed to rising levels of student loan debt, a new study found. Continue Reading Below According to researchers at the Federal Reserve Board Division of Research & Statistics, a $1,000 increase in student loan debt can cause a 1 to 2 percentage point drop in the homeownership rate for borrowers during their late 20s and early 30s. The homeownership rate among young Americans fell nine percentage points between 2005 and 2014—and rising student debt accounted for about one-fifth … [Read more...] about Mounting student loan debt stopping young Americans from buying homes