April 19, 2009 |
Couples in the process of divorce spend a lot of time divvying up their assets. But in today's miserable economy, experts maintain that soon-to-be-exes should take even greater care dividing up the debts. Otherwise, your former spouse's job loss could end up hitting your balance sheet -- and credit report -- years after you think the divorce is settled.
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.
December 29, 2013 |
Teresa Martin was laid off in October from her job as office manager for a packaging company. The Corona resident is now struggling to pay her bills. Martin, 57, isn't carrying any credit card balances at the moment, but she said she may have to start running up debt on plastic in the coming days if she wants to keep a roof over her head. "It's scary," she told me. "But I'm not sure what else I can do. " As we stagger into a new year, consumer debt is climbing at the fastest pace in more than five years.
March 31, 2013 |
After graduating from Columbia University in the height of the recession and acquiring $120,000 in debt, including 12 student loans from seven servicers, Brendon McQueen was left with a film degree and a six-month grace period before his first loan repayment was due. Frustrated by the lack of options in tracking and managing his various loans, McQueen, like many other entrepreneurs, took matters into his own hands. “I tried to find a tool out there that offered a comprehensive solution, and I couldn't, so I said, 'Well, let's create one,'” McQueen said. The solution: Tuition.io , a free one-stop-shop website that consolidates all your student loans -- public or private -- into one interface.
February 21, 2013 |
The millennial generation is aggressively whittling down its debt, as young people forgo homes and cars, according to a new study. The median debt of households headed by people under age 35 fell 29% between 2007 and 2010, according to the analysis from the Pew Research Center. That compares to a mere 8% decline for households of those 35 and older. Even more impressive, the percentage of younger households with debt of any kind dipped to 78%, the lowest since the federal government began gathering the data in 1983, according to the study . But it ain't coming easy.
September 28, 2012 |
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.
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
March 15, 2013 |
In a crossing of swords between academics and politicians, the University of California's top two faculty leaders on Friday strongly criticized legislation that would allow students bumped from overcrowded core courses at state schools to instead take online courses from other colleges or private companies. The bill, authored by state Senate President Pro Tem Darrell Steinberg (D-Sacramento), "raises grave concerns," Robert L. Powell and Bill Jacob, the chairman and vice chairman of the UC system's faculty Senate, wrote in a letter to colleagues.
October 29, 2010 |
The Education Department on Thursday issued regulations governing for-profit colleges, a rapidly expanding education sector that has been criticized in Congress for allegedly providing students with poor educations while saddling them with excessive debt. Issued after a year of negotiations, the new regulations are intended to improve the Education Department's ability to monitor the institutions, including compensation for recruiters, and the ability to take action against schools that engage in deceptive advertising and marketing.
November 11, 2008 |
Higher college costs and steep losses in college savings plans are forcing students and their parents to borrow more money -- if they can -- to earn bachelor's degrees. Federal officials, fearing that the continuing credit crunch may stymie college financing efforts, tried Saturday to reassure families that funds would be available.