August 10, 2013 |
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.
January 26, 2014 |
WASHINGTON - The verdict was nearly unanimous at a recent hearing on Capitol Hill: The new federal "ability to repay" and "qualified mortgage" regulations that took effect Jan. 10 will make obtaining credit tougher, not easier, this year, and potentially force large numbers of creditworthy home buyers to defer or cancel their plans. What nobody addressed at the hearing, though, was the elephant in the room: OK, we've got a problem. But what, if anything, can buyers who find it difficult to meet the new standards do about it?
March 8, 2013 |
Dear Liz: I am a junior in college, and I might have to take out a loan my senior year because of financial cuts in the state. Is it really a bad idea to take a loan for college? Answer: No, it's not. You don't want to overdose on education debt, but a student loan that helps you get the right degree could be the best investment you'll ever make. Someone with a college degree will earn on average $2.3 million over the course of a working lifetime, which is $1 million more than the lifetime earnings of someone with just a high school diploma, according to a study by the Center on Education and the Workforce at Georgetown University in Washington.
June 5, 2012 |
WASHINGTON -- Ten U.S. colleges and universities have committed to provide more information to students about tuition and other costs, including estimated monthly loan payments after graduation, as part of a federal push to improve disclosure to help prevent financial-aid recipients from overextending themselves, the White House said. Leaders from those institutions, which include the state university systems in Maryland, Massachusetts, New York and Texas, were scheduled meet Tuesday in Washington with Vice President Joe Biden, Education Secretary Arne Duncan and Richard Cordray, director of the Consumer Financial Protection Bureau to discuss financial aid transparency.
December 16, 2012 |
Among the many aftereffects of the popped housing bubble is the perception that many young adults have been spooked into doubting that they'll ever own a home — or even aspire to own one. Not true, says a new survey from a major real estate company, which contends that 18- to 35-year-olds do indeed like the idea of owning homes, and they've learned a thing or two from watching their parents struggle with the housing market. And by the way, that young adult child of yours, the one who has moved back home and established residence in your basement?
March 5, 2006 |
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."
July 22, 2012 |
Despite what the debt and deficit hawks would have you believe, we can't cut our way back to prosperity. No large economy has ever recovered from serious recession through austerity. But there is another factor holding our economy back: inequality. Any solution to today's problems requires addressing the economy's underlying weakness: a deficiency in aggregate demand. Firms won't invest if there is no demand for their products. And one of the key reasons for lack of demand is America's level of inequality - the highest in the advanced countries.
May 16, 2013
Re "Cal State grads facing an exit fee," May 14 Give an arm and a leg, and you still have to give up more. College tuition has been on the rise for the last 10 years, and just when a college student believes that the horror is over, many of the Cal State University campuses want students to pay an exit fee. What chutzpah. The average debt load for graduates who borrowed money to pay tuition hovers around $27,000, according to the Institute for College Access and Success' Project on Student Debt.
February 9, 2013 |
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.
December 6, 2009 |
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%.