Student Loans

Student Loan Debt Growing by the Second

At the time this article was written, the Student Loan Debt Clock read $848,436,401,755. A shocking number in and of itself, but the rate at which that figure increases is equally unsettling.

Podcast 71: Debt-Free U, Zac Bissonnette

On today’s episode of the Consumerism Commentary Podcast, Tom Dziubek talks to Zac Bissonnette, writer at the Huffington Post, DailyFinance and author of the book Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents.

Student Loan Debt Surpasses Credit Card Debt

According to the latest statistics from the Federal Reserve and the publisher of FinAid.org, the total amount of money Americans have borrowed on government and private student loans at $830 billion has surpassed the total American consumer balance on credit cards, only $827 billion.As the Wall Street Journal mentions when sharing this information, this is partly due to a decrease in credit card debt in addition to an increase in student loans.

Don’t Over Borrow For Your Career

You need to consider whether the career you’re studying for pays enough to warrant all of the money you’re borrowing for a college education.
Check out this PayScale College Salary Report on how much the typical grad can expect to make.
If, for example, you take out $100,000 in loans at 6.8% interest and plan to pay [...]

Is the Sallie Mae Smart Option Loan Really A Smart Option?

Sallie Mae and Alpine Bank have teamed up to offer the Smart Option Student Loan. The pair of lenders claims this is an innovative student loan that will cost borrowers less over time than other offers that are available.
Let’s take a look at Sallie Mae’s pitch for its new loan and the reality of what it offers students.
The Pitch

Wells Fargo Creates ‘Student Loan for Parents’

We’ve heard plenty of horror stories about student loans.
Medical students and law students who, several decades into their (highly lucrative) careers, have not repaid much of their balance. A student who completed just two years of college but was still stuck with thousands of dollars in debt. The graduate who got stuck with a variable APR loan and went through a rate spike.

Using Federal Student Loan Rules To Your Advantage

We’ve written recently about student loans: Notably about how difficult they are to get out of and which kind of loan to choose. Well, we’ve got more news on student loans, and this time it’s not bad news.

Studying Up On Student Loans – Part 2

This is part two of MyBankTracker’s primer on how to safely take out a student loan. Part one, which focused on the difficulties of escaping a big student loan, can be found here.
An Important Decision: Federal Or Private Loans?
A number of student loan options exist, both federal and private. But all loans are not alike, meaning you should carefully research you’re the options before deciding.

Studying Up On Student Loans — Part I

To make money, you need a good job. To secure a good job, you probably need a college degree. To earn a college degree, you need money. To get that money, you might need student loans. Problem is, with interest rates as high as 12% and a shortage of entry-level jobs, student loans are exceedingly tough to pay off in many cases.

Student Lending Law Could Save Taxpayers Billions

President Obama is scheduled to sign a new student lending law today that could save taxpayers billions by cutting out commercial banks, who collected billions in subsidies for acting as middle men in the federal loan process.
Direct Federal Loans and Aid
Rather than financing student loans through a third part private bank, the new student lending [...]

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