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Student Debt

CALIFORNIA | LOCAL
March 26, 2014 | By Carla Rivera
Dozens of students rallied at a meeting of the California State University governing board Wednesday, chanting and hoisting signs that urged the chancellor and trustees to roll back "success fees" that are raising costs on many campuses. More than 100 students marched in front of the police-guarded entrance of the chancellor's Long Beach office shouting, "We got 99 problems and student debt is one," and "No cuts, no fees, education should be free. " Campuses in San Diego and Fullerton recently joined nine others in enacting the fees to help pay for more classes, faculty hiring, counseling and other services.
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BUSINESS
May 22, 2013 | By Paresh Dave
More than half of millennials -- 54% -- surveyed by a Wells Fargo & Co. retirement unit said their "biggest financial concern currently" was longer-term debt, mainly student and credit card debt. With the cost of college continuing to rise , about 64% of the 22- to 32-year-olds surveyed said they paid for school with loans. And 42% of the millennials said their debt was "overwhelming," twice the rate of baby boomers who were surveyed for comparison. The $1 trillion in outstanding student debt and low wages in the weak economy are causing the latest rounds of college graduates to put away less money for retirement.
BUSINESS
September 28, 2012 | By Andrew Tangel
Stock indexes were initially down nearly 1% in early trading on Wall Street on worries over Spain's banking system, adding to concern over the Eurozone crisis. The Dow Jones industrial average was down 101 points, or 0.8%, to 13,385 shortly after the opening bell. The broader Standard & Poor's 500 index fell 9 points, or 0.6%, to 1,438. The Nasdaq was down 13 points, or 0.4%, to 3,124. Friday is the last trading day of the third quarter. ALSO: Initial jobless claims fell sharply last week to 359,000 Mortgage rates nose-dive to new lows; 30-year at 3.4% One in five households burdened by student debt, a record
BUSINESS
August 8, 2013 | By Walter Hamilton
Tell us your story. Although the economy is perking up, these are tough times for Californians of all ages. Are you a recent college graduate searching for work, a mid-career professional trying to keep your job or a retiree facing financial pressure? Whatever your situation, the Los Angeles Times wants to hear from you. Tell us how you're handling today's economy and job market. Please email walter.hamilton@latimes.com or shan.li@latimes.com .   ALSO : Many Americans say they can't retire until their 70s or 80s Today's retirees face declining standard of living, study says Student debt is No. 1 fear of college-bound, according to survey
BUSINESS
August 10, 2013 | By Shan Li
Share your family's story. Although the economy is improving overall, Californians of all ages are struggling in the job market and with personal finances. In many cases, extended families are stepping in to help. Are you a twentysomething who has moved back home? A fortysomething supporting your children or your aging parents? A sixtysomething who was prematurely pushed out of the workforce? Whatever your age or situation, the Los Angeles Times wants to hear how your family is pulling together in troubled times.
BUSINESS
January 30, 2013 | By Walter Hamilton
Students borrowing money for college today are much likelier to default than people who took out loans just a few years ago, according to a new report. The student-loan delinquency rate in the last three years has risen to 15.1%, up from 12.4% from 2005 to 2007, according to FICO Labs, a unit of Fair Isaac Corp., which publishes consumer credit scores. That's a nearly 22% increase. The report is the latest red flag signaling that monstrous debt is a problem not only for students but potentially for the broader economy as well.
NATIONAL
March 5, 2006 | Tim Jones and Jodi S. Cohen, Chicago Tribune
Margo Alpert is on the 30-year plan. Every month, $500 to $600 is automatically deducted from her salary to pay off college loans. By the time the 29-year-old Chicago public interest lawyer is in her mid-50s and thinking seriously about retirement, she will finally be free of college debt. "It's going to be part of my life forever," Alpert said. "I don't think about it at all because it's just a fact of life."
BUSINESS
September 28, 2012 | By E. Scott Reckard
Orange County's Clearinghouse CDFI , which makes subsidized community improvement loans in low-income areas, has received a $2-million grant to help it expand into Nevada. The gift to the Lake Forest-based lender was one of three announced Thursday by the NEXT Awards for Opportunity Finance , which also provided a combined $6.25 million to two New York-based institutions that finance community health centers and affordable housing. Clearinghouse CDFI has made $925 million in loans over the last 15 years to such borrowers as the Monarch School for homeless children in San Diego, the Samoan Congregational Community Church in Carson and Native American Natural Foods, which produces buffalo meat and berry snacks on the Pine Ridge Indian Reservation in South Dakota.
BUSINESS
February 9, 2013 | By Shan Li
With decades ahead of them in the job market, more than half of millennials stay awake at night chewing over all manner of worries, according to a study. Those 18- to 33-yeas-olds actually stress out more than older generations, the American Psychological Assn. concluded in its new study. Slightly more than 50% said that overwhelming worries disrupted their sleep in the past month. A dour economy is top of mind for young people, with work and job stability sending their stress levels soaring.
BUSINESS
December 6, 2009 | Kathy M. Kristof, Personal Finance
Last June's college graduates face a tough choice this month. That's when the automatic six-month deferment on their student loans expires, forcing them to start repaying the money or beg for additional time. Never have students been so deep in debt and so unprepared to pay. The average student is carrying a record debt load of more than $23,000, according to a just-released report by the Project on Student Debt. Meanwhile, unemployment among college graduates ages 20 to 24 is the highest in recorded history, at 10.6%.
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