student debt

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Billionaire Stuns Grads With Commencement Pledge

Robert F. Smith will pay off the loans of Morehouse College students

(Newser) - Billionaire investor Robert F. Smith received an honorary degree from Morehouse College during graduation ceremonies Sunday—and he told the rest of the Class of 2019 that they wouldn't have to worry about repaying student debt. "This is my class and I know my class will pay this...

Warren Unveils Audacious Student Debt Plan

She would wipe it out entirely for most

(Newser) - Elizabeth Warren is out with what might be her most controversial policy proposal yet ahead of the 2020 election: She wants to wipe out a large chunk of the student debt now held by Americans, reports HuffPost . "The time for half-measures is over," Warren writes in a blog...

What It&#39;s Like to Be 30 and Ruined by Student Loan Debt
The Reality of Living With
a $100K Student Loan Debt
IN CASE YOU MISSED IT
Aug 26, 2018 2:30 PM CDT

The Reality of Living With a $100K Student Loan Debt

MH Miller is due to have it paid off in 2032

(Newser) - "I have come to think of my debt as like an alcoholic relative from whom I am estranged, but who shows up to ruin happy occasions." MH Miller's description of his roughly decade-old student loan debt might not be extreme enough. In a lengthy piece for the...

How One Man Racked Up $1M in Student Debt

Orthodontist and his wife lived frugally but the bills kept piling up

(Newser) - Mike Meru has a staggering student-loan problem: He owes lenders $1,060,945.42. He is making payments, but still, his debt grows $130 every day. And the 37-year-old orthodontist is not alone. There are currently 101 borrowers who owe more than $1 million in student loans, and there are...

Defrauded Students Getting Debt Relief—25 Years Later

Government settles lawsuit filed by students of shuttered for-profit college

(Newser) - One of the largest for-profit college chains in the US was shuttered in 1994 after federal investigations revealed it had defrauded thousands of students by falsely certifying them for federal loans. Ever since, the US government has been collecting on federal student loan debt left behind by students of Wilfred...

Paperwork Errors Could Wipe Out $5B in Student Loans

Courts are throwing out National Collegiate's cases

(Newser) - One of the biggest holders of private student loans appears to have flunked Bookkeeping 101—and that could be very good news for a lot of borrowers. The National Collegiate Student Loan Trust, a group of 15 trusts holding 800,000 student loans worth around $12 billion, has been pursuing...

Unpaid Student Debt Sending Seniors Below Poverty Line

Report: Social Security garnishments rising among older Americans

(Newser) - Can federal student loan debt follow you into your golden years? It can and it is, per a report released Tuesday. The Department of Education last year garnished $171 million from Social Security checks going to Americans ages 50 and up, reports Consumerist . Since most of those affected are aging...

Student Debt Forgiveness to Cost Taxpayers $108B: Report

Government Accountability Office says that's how much will be forgiven in coming years

(Newser) - A new report out of the Government Accountability Office reveals that the federal government will forgive at least $108 billion in student loan debt in the coming years, a higher amount than official estimates out of the federal government's Education Department, the Washington Post reports. The GAO report, which...

Canada Makes It Easier to Repay Student Loans

Students won't have to repay debt until they reach a minimum income level

(Newser) - Canada's about to make it a lot easier for low-earning graduates to repay their college debt, Global News reports. A new plan allows those earning less than CAD $25,000 (USD $18,650) per year to defer payment on government loans until they secure a higher-paying job. Almost 750,...

Our Student Loan Debt Problem Is Getting Worse

4% increase from 2014 to 2015 for those with bachelor's degrees from public, nonprofit private schools

(Newser) - How much students are borrowing for higher education is still creeping up—and the numbers that are coming in are probably conservative. The Institute for College Access and Success , a nonprofit, reported Tuesday that the average student loan debt for 2015 for those receiving a bachelor's degree was $30,...

College to Pay Loans for Grads Making Less Than $40K a Year

Keystone College announces new program

(Newser) - If you graduate from Keystone College and your post-grad job pays less than $40,000 a year, the Pennsylvania institution will pay some or all of your student loans, officials announced Tuesday. The Keystone Commitment Loan Repayment Assistance Program will first be available to first-time, full-time freshmen who start at...

Best, Worst States for Student Debt

Utah is best; DC is worst

(Newser) - Congratulations to anyone heading off to college in Utah this fall. A WalletHub ranking finds the state is the friendliest in the country when it comes to student debt, based on average debt, loans overdue or in default, unemployment, the availability of student jobs and grants, and other factors. Other...

Mom Forced to Pay Off Murdered Son&#39;s Student Loans
 Mom Forced to 
 Pay Off Murdered 
 Son's Student Loans 
in case you missed it
Jul 9, 2016 7:59 AM CDT

Mom Forced to Pay Off Murdered Son's Student Loans

'NYT' takes a close look at New Jersey student loans

(Newser) - Marcia DeOliveira-Longinetti's son, Kevin, was murdered last year in a case that still hasn't been solved. And, as the New York Times reveals in an extensive look at New Jersey's student loan industry completed in cooperation with ProPublica, DeOliveira-Longinetti is not only grieving her son but is...

10 States With the Most Student Debt

Sorry, Delaware pupils

(Newser) - The average American college student owed $28,950 at graduation in 2014—but students in some states are even worse off. 24/7 Wall St. rounds up the top 10 states with the most student debt on average—based on 2014 numbers from the Institute for College Access and Success—noting...

Extreme Student Debt Solution: Leave the Country
Extreme Student Debt Solution: Leave the Country
in case you missed it
Jan 23, 2016 7:30 AM CST

Extreme Student Debt Solution: Leave the Country

'Vice' writer talks to 'dodgers' who moved to Berlin

(Newser) - It's a sign not only of how bad the student-debt situation is but just how crushing that debt feels to those beneath it: Some young Americans are leaving the country, perhaps for keeps, to escape it, writes Alexander Coggin at Vice . Coggin doesn't have stats, but he's...

The 'Million Student March' Is Happening

Protesters want free tuition, student debt forgiveness, and more

(Newser) - Across the country Thursday, students will be walking out of classrooms as part of the "Million Student March." The demonstrations were planned as a protest against student loan debt, with students calling for not only tuition-free education at public colleges and forgiveness of student loans, but also for...

Recent Grads Who Think Degree Was Worth It: Just 38%

But there is one thing that makes a big difference

(Newser) - Just 38% of recent college graduates (from 2006 on) "strongly agree" that their education was worth its price, a new Gallup-Purdue Index study finds, and 8% felt strongly that it wasn't worth it. The number rises to 50% for all college graduates (more than 30,000 total) who...

Students With Smallest Debt Most Likely to Default

Those with biggest debt tend to end up with high-paying jobs

(Newser) - Who is more likely to default on a loan: a student who borrows a few thousand dollars, or one who borrows $50,000? The answer may surprise you: According to new data from the Department of Education, students who borrow between $1,000 and $5,000 default in 34% of...

How Many Plan to Pay $200K in Grad-School Debt: They Don't

A growing class of borrowers don't intend to pay off 6-figure loans

(Newser) - In 2012 the average medical-school grad owed about $162,000 in student loan debt. But many of these newly minted doctors can, thanks to one government program, pay just a few hundred dollars a month on their loans—in some cases, far less than the interest that's being tacked...

Clinton Wants to Throw $350B at Making College Free, Cheap

Candidate's plan would make community college free, 4-year college 'no loan'

(Newser) - As student debt balloons into an issue in the realms of predatory lending , borrowers' mental health , and even the elderly , politicians continue to brainstorm on making college more affordable. Hillary Clinton's solution: a $350 billion proposal whose goals include making community college free, cutting costs to attend four-year public...

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