March 1, 2013 |
Families aren't saving enough for college, students are falling deeper into debt and nearly 13% of graduates owe more than $50,000, according to new research. The bottom line of the research, gleaned from a pair of new studies, is that college-debt woes continue to worsen despite all the attention focused on the ballooning debt of America's young people. An analysis by the Federal Reserve Bank of New York shows that the number of students taking out college loans, and the amount they borrowed, both grew 70%, or roughly 7% a year, from 2004 and 2012.
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.
June 13, 2012 |
As Americans continue to borrow more to pay for college, many are confused and frustrated at the process of dealing with private student loans. The Consumer Financial Protection Bureau disclosed the depth of the problem Wednesday by publishing nearly 2,000 comments from borrowers, advocacy organizations and other agencies. The federal agency removed names and other identifying information from comments. Many were angry with lenders for not making terms and conditions clear, such as how to consolidate a series of loans.
August 12, 2013 |
Tell The Times how your family is dealing with the current job market. Although the economy is slowly picking up, Californians of all ages are struggling with their employment situations and their finances. In many cases, family members are stepping in to help. Are you a twentysomething who is working multiple part-time jobs and living with your parents? A fortysomething supporting your parents or children? A sixtysomething who is facing depleted retirement savings and looking for work?
March 26, 2012 |
Got a problem making ends meet each month? There's an easy and cheap way to stick to a budget using envelopes. David Colker, an editor in the Business section at the Los Angeles Times, shows how to do it. This method of budgeting was popular in the Great Depression, and it is coming into vogue again in this tough economy. All you do is take an envelope for each category -- say, one for gas, one for food, one for entertainment, one for rent -- and put your budgeted amount of cash in it for the month.
December 6, 2012 |
Americans saw their wealth increase by $1.7 trillion in the third quarter ended in September, a promising sign in the thick of the holiday shopping season. Total household and nonprofit net worth - the difference between the value of assets and liabilities - climbed 2.7% to nearly $64.8 trillion from $63 trillion the previous quarter. A year ago, the gauge was at $58.7 trillion, according to a report Thursday from the Federal Reserve. Households enjoyed a $301 billion bump in the value of their real estate holdings; the value of stock investments increased as well.
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.
August 13, 2013 |
A strange and elaborate stone villa perched atop an apartment building in Beijing has caught the attention of authorities there who have ordered the structure be torn down. Dubbed "the most outrageous illegal structure" by local media, the sprawling fortress resembles the top portion of a mountain peak, complete with trees, shrubbery and piles of rocks, that just happens to be fused onto the roof of a 26-story apartment complex. It has been seized upon by the Chinese public and media as yet another example of the willingness of the country's uber-wealthy to flout rules and usually get away with it. The owner, a businessman in the traditional Chinese medicine industry, spent six years building the 8,600-square-foot villa despite complaints by neighbors who said it was causing problems with the building's pipe system and structural integrity, according to the Associated Press.
January 29, 2013 |
The 99% may have been a little above-average. A sampling of Occupy Wall Street supporters in May showed that the anti-corporate protest movement was disproportionately wealthy and educated, according to a study published Tuesday by the City University of New York. However, many protesters -- especially those younger than 30 -- had also been recently laid off and were saddled with debt, one of the signature issues of the movement. Participants were predominantly concerned about income inequality in the United States.
September 28, 2012 |
Bank of America has agreed to pay $2.43 billion to settle a class-action lawsuit filed in 2009 by investors following its acquisition of Merrill Lynch. The settlement, announced Friday, still requires court approval. In addition to the payout, Bank of America agreed to institute new corporate governance policies, the bank said in a statement. The bank said it denied the suit's allegations, which included that executives made misleading statements about both firms' financial health.