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Guess How Much: Average College Grad's Student Loan Debt
Recent grads have been having a rough go of the recession-ridden real world. They're competing in a reduced job market and facing increased expenses as student loan repayment rears its head, plus interest. Can you guess how much the average college graduate has to pay back in student loans?
Ask Savvy: Should I Apply For a Personal Loan?
Dear Savvy,
I've been meaning to take a $5,000 personal loan. However, as you may know, my bank WaMu was bought by JP Morgan Chase. I'm not sure what kind of effects this would have on me or my bank.
Should You Pay Off Student Loans ASAP?
Because 70 percent of you are dealing with student loans, a Motley Fool article called "Die, Student Loan, Die!" caught my eye. The article has some good tips on how to assess whether you should focus on putting more money toward savings or more toward student loans.
Ask Savvy: I Regret Co-Signing on a Friend's Car
Dear Savvy,
I did a stupid thing about two years ago. One of my best friends was going through a life crisis and she needed help purchasing a car. (Her own credit score was bad because an old car dealership screwed her over.) So, she asked me to co-sign on her new car purchase.
Rate Reduction on Variable Student Loans This July
Forking over your monthly student loan payment is surely something that makes you sigh with irritation, but here's some news that may make those times of the month less brutal.
If you've already consolidated your student loans and haven't added any new ones then you're not eligible for a rate reduction, but if you haven't yet consolidated consider marking July 1 on your calendar. Find out what rates may be available as of the first when you read more
How to Handle Parental Loans
There are many sources out there that will tell you to consider any loan to a family member as a gift. And while going into the situation with low expectations would serve a relationship well, what about the loaning person's finances? Many 20-somethings are turning to their parents for help in the midst of a tougher mortgage scene, and are counting on them to pull through with a familial loan.
News Flash: Credit Crisis Seeps into Student Loans
Lining up student loans may be a much tougher scene this Spring than it has been in past years. Many types of student loans were funded by lenders issuing securities backed by these loans. Now investors are shying away from this type of investment because of the negative way many mortgage-backed securities turned out.
Guess How Much: Student Loan Debt For New Grads
Higher education comes with a higher cost, year after year. Student loan debt is particularly problematic for new graduates because it's more difficult for them to find employment after graduation. While some can turn to their parents for help in making loan payments, it's not feasible for many families who have been affected by the recession.
Graduates Flee US to Escape Student Loans
Student loans are increasingly necessary for many students to pay for college, but these massive debts are causing some graduates to flee the country. It may seem dramatic, but leaving the country sometimes seems like the only option for grads that have defaulted on their student loans and can't find another way to escape the debt collectors.
CNN Money profiled a student loan fugitive named Chris who got a foreign address to escape his $160,000 student debt from getting a master's degree in music.
Most Shocking Headline: Graduates Flee US to Escape Student Loans
Graduating with debt isn't the best way to start out in the real world, but it's a reality that many college graduates face. Most grads set up a plan to pay off their student loans within a certain time period, but some of the educated and in-debt have become too overwhelmed by their loans to repay them.
Instead of facing debt collectors, some students with massive debt are choosing to flee the country after they've defaulted on their loans.
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