What’s one of the country’s top New Year’s resolutions? “Get my personal finances on track.” It competes with “Lose five pounds” and way outdoes “Spend more time with family and friends.” If you get control of your money, you might even find it easier to control other niggling issues (like that extra Christmas weight). Here [...]
Student loans — if unpaid even for a short time — lock you into the only effective debtors’ prison existing in the United States. The government’s collection rights are something a mobster might admire. Late fees and collection fees are ruinous. Student loans cannot be discharged in bankruptcy, so you’ll drag that escalating debt forever. [...]
Conservative Congressmen hate students who take loans. They lump them with tax cheats, criminals who owe reparations, and deadbeat dads.
What do these people have in common? None of them is allowed to discharge the debt in bankruptcy. People who take loans for higher education and, later, fall on hard times, are considered unworthy of a [...]
Private student lenders swing wide their doors in August, when families struggle to raise the money needed for this school year. You can borrow from banks, some credit unions, and specialized institutions such as Sallie Mae.
New laws and regulations have cleaned up some of the misleading tactics families faced in the past. [...]
Don’t get taken when you sign for a college loan. Federal loans are cheaper than ever this year, for both parents and students. But loans directly from banks or other for-profit lenders can trip you up. You might lock yourself into thousands of dollars of unnecessary spending and, potentially, a greater risk of default. Here’s [...]
