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Student Debt

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
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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.
BUSINESS
March 8, 2013 | Liz Weston, Money Talk
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.
BUSINESS
June 5, 2012 | By Jim Puzzanghera
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.
BUSINESS
December 16, 2012 | By Mary Umberger
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?
NATIONAL
January 29, 2013 | By Matt Pearce
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.
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
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%.
NATIONAL
October 29, 2010 | By Jordan Steffen, Tribune Washington Bureau
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.
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