June 7, 2013 |
Builders are eyeing the next wave of potential home buyers - the so-called millennials - but whether this rising generation will embrace big mortgage debt remains an open question. These 95 million people ages 10 to 32 outnumber their baby-boomer parents by 10 million. The young adults among them, sobered by the recession, have relatively modest material expectations; many say they'd be happy with smaller living spaces. The housing industry will have to convince the next generation that home loans are as necessary and prudent as the student debt so many of them already carry.
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."
May 13, 2012 |
Brenda Small didn't think twice about taking out student loans to pay for nursing school in the late 1980s. She figured she could easily pay off the $20,000 bill - until an injury a few years later left her permanently unable to work. Her dreams of working in her chosen profession vanished, but not her student debts. Including interest and penalties, the 59-year-old Los Angeles woman now owes more than $39,000 and can't afford to pay the debt from a disability income of $1,234 a month.
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.
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.
CALIFORNIA | LOCAL
June 9, 2013 |
A UC Berkeley senior who majors in social welfare and has been active in student government and Mideast issues is expected to become the next University of California student regent, joining the board that sets policies for the 10-campus system. A special regents committee has nominated Sadia Saifuddin, 21, of Stockton to be the student regent in 2014-15. Confirmation by the full Board of Regents is expected next month. For the next year, Saifuddin would be a regent-designate, able to participate in all discussions but without voting rights until her one-year term as a fully empowered student representative begins in July 2014, officials said.
October 10, 2013 |
Corinthian Colleges again stands accused of being one of the crummiest operators in a crummy industry -- the for-profit college game. The finger-pointing this time comes from California Atty. Gen. Kamala Harris, who sued Santa Ana-based Corinthian on Thursday for a pattern of out-and-out lying to applicants and students about placement rates and other facts. She also accused the company of misleading investors in a way that the Securities and Exchange Commission would want to ask about, if it weren't closed for business because of the Republican shutdown.
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%.
May 22, 2013 |
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.