Weighing in at more than $1 trillion, student loan debt is now larger than total credit card debt. Morning Editionrecently asked young adults about their biggest concerns, and more than two-thirds of respondents mentioned college debt. Many say they have put off marriage or buying a home because of the financial burden they took on as students. [...]
Here's a quick question about your retirement savings: When was the last time you checked the fees on your 401(k)?
If you're like most Americans, chances are you're not sure what exactly your plan is charging you. Even though employers are now required to disclose more information about 401(k) fees, only about half of workers said they actually noticed the data, while just 14 percent made changes after reviewing the information, according to a 2013 study from the Employee Benefit Research Institute.
In F. Scott Fitzgerald’s The Great Gatsby, East Egg represents inherited wealth and privilege, while West Egg represents wealth earned through innovation and hard work, a distinction at the core of the American ideal. We have always embraced a dynamic capitalism, marked not by stasis but rather “creative destruction,” lionizing trust-busters as heroes of competition.
When a city is forced to spend more on Wall Street fees than on basic public services, it is the sign of trouble. When that city is one of America's biggest population centers, it is the sign of a burgeoning crisis.
Sen. Elizabeth Warren introduced legislation on Tuesday to tackle the nation's over $1 trillion student loan crisis. "Exploding student loan debt is crushing young people and dragging down our economy," the Massachusetts Democrat said in a statement.
Thomas Piketty’s wildly popular new book, “Capital in the 21st Century,” has been subject to more thinkpieces than the final episode of “Breaking Bad.” Progressives are celebrating the book — a
“Did you know millions of Americans live with debt they can not control? That’s why I’ve developed this unique new program for managing your debt. It’s called, Don’t Buy Stuff You Can’t Afford.”
There is a tendency among elite opinion makers to believe that debt accrued while gaining a college degree is “good debt” that isn’t problematic because, as the thought goes, those with college degrees tend to make enough money to recoup their debt over a lifetime. Student debt is supposedly an equalizer—a way for students to gain access to credit in order to get a degree that will give them an equal chance to enter the middle class and achieve the American Dream.
College is the gateway to the middle class for most young people, but the price has never been higher. And a new study shows that New Jersey has actually exacerbated the student debt crisis by shifting the costs of college onto students and families.
According to the national think tank Demos, funding for higher education in New Jersey has dropped by 17 percent since 2006. That has forced every public college and university in the state to raise tuition and fees, far outpacing financial aid packages.
All across the country, public services are increasingly outsourced to private contractors in the name of efficiency and cost savings. But a new report from the non-profit research group In the Public Interest (ITPI) shows that outsourcing public services hurts middle and working class communities as well as workers.
As the nation’s trillion-dollar student debt continues to rise, a new analysis of public higher education’s funding finds dwindling state support is the key factor driving rising tuition costs and deepening student debt.
President Obama signed an executive order Monday that could extend student debt relief to an additional 5 million people — a move aimed in part at better educating young borrowers of their rights while jumpstarting a moribund debate on the issue in Congress.
Competition and innovation in bank payments risk being undermined if the system’s new regulator is too heavy handed, a report from Demos Finance warns.
The government is setting up a regulator to ensure new and smaller banks get a fair deal when using larger rivals’ systems. But analysts at Demos worry some actions to address this could backfire, prompting banks to withdraw services rather than comply. The think tank also wants the new regulator to consider potential uses for collecting tax data.
This week, President Obama ordered changes to the federal student loan program that could help millions of borrowers make their payments more affordable starting in December 2015.
Did you know millions of Americans live with debt they can not control? That's why I've developed this unique new program for managing your debt. It's called Don't Buy Stuff You Can't Afford.
Last month, IndexCreditCards.com asked, "Are you embarrassed by your credit card balances and credit score? " The question was prompted by a survey from the National Foundation for Credit Counseling that found three times more consumers being ashamed of their card balances than their weight.
If being a parent often feels like a constant juggling act, it can be that much more challenging for single parents. Between work and parenting, it can feel like there’s never enough time, energy or money for the things you want to do. And that feeling may extend to your credit too. You may barely have time to check your credit, much less fix it.
Once upon a time, America invested in its young people so that they could enter the world without debt. College was meant to provide opportunity and strengthen the overall economy by creating a better- educated workforce. Looking at the numbers today, I can only think that our current system has failed this generation.
Los Angeles lawmakers were expected to vote Wednesday on a proposal to renegotiate or terminate an interest rate swap deal from the mid-2000s that critics say now costs the city millions of dollars a year in fees. If successful, the initiative could make the city the nation's largest to challenge ballooning Wall Street levies that accompany similar interest rate swap deals throughout the nation.