Student Loans Delay Retirement Saving – But College Degrees Still Worthwhile

According to Fidelity data, the dollar-weighted average 401(k) balance for the youngest cohort of investors – those just starting their careers – is $11,600. That’s not bad But the median 20-something has a 401(k) account balance much lower than that – just $4,000. And that’s only of the subset of 20-somethings that has a 401(k) […]

California May Join List of States With “Student Borrower Bill of Rights”

California may be about to become the newest in a growing number of states to have passed a “Student Borrower’s Bill of Rights.” About 3.2 million Californians currently owe a total of $133 billion in outstanding student loan debt. Nationally, the average balance for those who owe student loans is $37,429. One out of every […]

Julian Castro’s Student Loan Plan

Former Obama housing Secretary, San Antonio mayor and Democratic Party presidential candidate Julian Castro has proposed a detailed plan for student loan forgiveness. It’s part of what he calls his “People First” plan for education reform. Since this is primarily a student loan blog, we’ll focus first on the aspects of his plan specific to […]

Secretary of Education Betsy DeVos Ends “Gainful Employment Rule”

In 2014, the Obama Administration attached some strings to federal student loan aid going to for-profit colleges and universities. This was the deal: In exchange for continued access to student loan dollars, for-profit schools had to show that students were finding gainful employment upon graduation and paying off their loans. Additionally, the new standard required […]

Millennials and Gen Xers: How Much Should You Have Saved for Retirement by Now?

Retirement seems like it’s a long way off. But it will be around the corner before you know it. In fact, It could even come sooner than you expect: A significant number of Americans are forced to retire ahead of schedule, due to a variety of factors.  But let’s assume you’ll retire on schedule in […]

The Ultimate Guide to Buying a Car With Student Loan Debt

There’s no doubt about it – if you’ve graduated with significant student loan debt, that can absolutely complicate your ability to qualify for a car loan. But unless you live in a big city with a good public transportation system, you need a car to get to job interviews and back and forth to work. […]

The Kamala Harris Student Loan Forgiveness for Entrepreneurs Plan

California Senator and Democratic Party presidential candidate Kamala Harris just proposed offering up to $20,000 in student loan forgiveness to Pell Grant recipients. Yesterday I announced that, as president, I’ll establish a student loan debt forgiveness program for Pell Grant recipients who start a business that operates for three years in disadvantaged communities. https://t.co/ldwuC9RiIE — […]

Want to Attract Talent? Offer a Student Loan Repayment Benefit

ALEXANDRIA, Va. — More than one-half of working Americans said employer-provided student loan repayment benefits would play a role in how they evaluate job opportunities, according to new research from the Society for Human Resource Management (SHRM). ” As the research shows, education assistance helps employers attract talented employees and build diverse teams to compete globally.”  –Emily […]

Republican Senator: Make Colleges Pay Half of Graduates’ Defaults

If a college or university alumni defaults on student loans, the college should pay at least half of the amount in default. That’s the premise of the latest student loan bill on the Senate floor, the Skin In The Game Act, courtesy of Senator Josh Hawley (R – Missouri). The bill would also prevent educational […]

Percentage of Employers Offering Student Loan Repayment Benefit Doubles

The percentage of U.S. employers who provide student loan repayment assistance to employees has doubled. Employers are now twice as likely to offer a student loan repayment benefit as they were just a year or two ago, according to a survey from the Society for Human Resource Management (SHRM). While SHRM data records the number […]

Maryland SmartBuy Program Will Pay Off Up to $40,000 in Student Loans If You Buy a House There.

The Maryland SmartBuy Program Looking to buy a home with student loan debt? Consider moving to Maryland. A government initiative there will pay off and eventually forgive up to $40,000 in student loan debt. The catch: You have to buy a home in Maryland. And you have to live in it for at least five […]

It’s 2019. Have you checked on your PSLF eligibility status?

Make sure your PSLF eligibility is on track at least every year. Don’t rely on people you’ve never met to win a lawsuit in order to qualify for public service loan forgiveness. You can’t control what happens in a courtroom, and you can’t control what a judge says. If you want to ensure you receive […]