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Student loan payments are a major concern for millions of borrowers, especially as policies and economic conditions shift. If you've noticed signs that your monthly payment may increase in 2025,...
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
The federal government also began funding fewer grant programs and more loan programs, leaving students with higher amounts of debt. In 2003, almost 70% of federal student aid awarded was student loans, which was a much higher percentage than just a decade prior. [16]
Student loan debt most aggressively traps lower-income earners, often preventing them from rising in the economic ranks. This feeds into America’s disproportionate division of wealth.
Student debt is the second largest form of consumer debt, accounting for 9 percent of the nation’s household debt as of the third quarter of 2023. Student loan debt and the end of the repayment ...
There is concern that the possible higher education bubble in the United States could have negative repercussions in the broader economy. Although college tuition payments are rising, the supply of college graduates in many fields of study is exceeding the demand for their skills, which aggravates graduate unemployment and underemployment while increasing the burden of student loan defaults on ...
American student loan debt is sky-high, with some estimates putting the total number over $2.19 trillion—that’s higher than all U.S. credit card and auto loan debt combined.
Whether the issue du jour is rising tuition prices, falling returns on our educational investment, or the ballooning student debt bubble, the message has generally been the same: College is only ...