The financial tidal wave of 2008 left millions of American homeowners “underwater,” owing more on their homes than their properties are worth.This has decimated consumer demand and destroyed countless dreams.Yet homeowners are not the only group of Americans who find themselves “underwater.” After decades of skyrocketing tuition and stagnant wages, American students and graduates now often owe .. more …
For some students’ federal college loans, Uncle Sam might be ready to forgive and forget.The Student Loan Forgiveness Act of 2012 aims to erase the federal student loan debt of academia’s most dutiful borrowers – those who have already paid 10 percent of their discretionary income servicing their arrears over 10 years – and cap interest rates at 3.4 percent. Introduced last month, the .. more …
WASHINGTON, D.C. (WOFL FOX 35) – The total amount of student loan debt has topped $1 trillion, more than the total debt of Canada. Now a Michigan Congressman has come up with the “Student Loan Forgiveness Act.” The proposed bill would forgive student loan debt for those who have paid ten percent of their discretionary income toward their loans for ten years.”The point is, taxpayers are on the hook .. more …
When LD 2283 came blowing through the legislative signature pad in 2008, everyone thought that the objective behind this push was to implement something green to help with energy. This became an easy sale when the price increase in gas and everything hit the working class in the wallet. When repercussions started occurring, an interest group formed to ask viability questions such as, “why so big .. more …
Education is the foundation for a successful future – but it can also leave you drowning in debt.Total student for Americans is now above $1 trillion. Financial experts say student debt is rising because many went back to school when they couldn’t find a job. Tuition is getting more expensive, as well, and interest is climbing on older loans because people are falling behind on payments.A U.S. .. more …
Student loan forgiveness is a pretty sensitive topic right now- with some people strongly advocating a kinder, gentler approach to student loans, while others feel that no matter how oppressive, loans should be paid back as they were originally termed in order to teach borrowers “responsibility.”However, the one most visible part of the student loans issues is its scope- by all accounts, we’re .. more …
Miami University has seen a 3 percent increase in students taking out loans and a 9 percent increase in students filing the Free Application for Federal Student Aid (FAFSA) compared to two years ago, according to the Director of Financial Aid Brent Shock. All students who file a FAFSA are eligible for a loan.In addition, The Washington Post reported Sunday Americans 60 and older still owe .. more …
On March 8, Congressman Hansen Clarke (D-Mich.) introduced H.R. 4170, the Student Loan Forgiveness Act of 2012 .Normally we don’t go into the findings of particular pieces of legislation, but the Student Loan Ranger thinks findings like this are refreshing and show Rep. Clarke is living in the reality most of us inhabit, including: Total outstanding student loan debt officially surpassed total .. more …
Monday, 26 March 2012 19:00 Editor’s Introduction: On 2012, Hansen Clarke (D-MI) introduced HR 4170, commonly known as the Student Loan Forgiveness Act. This policy sets a cap of 10% of their disposable income on student loan fees. After ten years, any debt left on the graduate’s loan is forgiven. So where does the money come from? The P/CP explains. Point Getting schooled in bad economy By .. more …
Americans owe a combined $870 billion in student loans – more than they owe for their credit cards and cars. And they’re carrying that debt long after they walk the stage.In fact, only a few Americans manage to pay off their student loans while they’re still in their 20s, a new report from the Federal Reserve Bank of New York shows.The $870 billion Americans owe for their educations .. more …
