Trending: The Empty Nest

A month has passed since the dorm drop-off, maybe several if your high school grad had other plans, and quiet fills the empty nest. While some parents quickly adjust, others struggle, and for them there’s a cottage industry of books and blogs, even Pinterest pages. The phrase “empty nest” produces more than 3 million hits in Google search. This certainly isn’t our parents’ empty nest where boomers headed off and never looked back. While there’s much advice on coping with …

Why Your College Grad Moved Back Home

At a party last weekend, I met a new college grad who had just moved back home. His plans: a camp counselor job this summer followed by a teaching assistant job come fall. Over the next year or so he plans to save money and figure out his future; maybe an M.S. in social work or a Ph.D. in psychology. He was looking forward to reconnecting with his parents after four years away. “It’s the last time I’ll live at …

Why Is Basketball Legend Bill Russell Suing the NCAA?

This month, after five years of legal wrangling, the NCAA finally finds itself facing off in court against basketball legends Ed O’Bannon, Oscar Robertson, Bill Russell and more than a dozen other former college athletes, some long since graduated and even retired from professional sports. The issue in the class-action lawsuit? Whether former student athletes should, on graduation, be entitled to financial compensation for commercial uses of their images by the NCAA. The NCAA, which governs all college sports, has …

President Makes It Easier to Repay Student Loans

Just as the Federal Reserve Bank of New York is raising concern about growing student loan debt and defaults, President Barack Obama is moving to expand a repayment program aimed at helping lower-income borrowers. The president today signed an executive order that the administration says will allow nearly 5 million more borrowers to qualify for a program that keeps monthly payments on federal loans to no more than 10 percent of discretionary income. This plan has been available only to more …

Skipping Out on Student Loans? Check Your Wallet

So what can Uncle Sam do if you don’t repay your federal student loans?   Report you to credit reporting companies. Garnish your wages. Keep your tax refunds and Social Security payments until the debt is paid off.   That’s right, all of the above.  Only most people aren’t aware of it. Economists and researchers at the Federal Reserve Bank of New York asked this of more than 1,000 consumers – only to discover that less than one-third of them correctly answered that the …

Hug Your Parents, and 7 Other Lessons for New Grads

The day after graduation at Miami University in Ohio, I took a run through campus. Barricades blocked paths, and white party tents waited to be disassembled. Ikea shelves and desks and deck chairs lined curbs. Kids snapped last-minute photos, while moms and dads carried storage bins and hitched U-Haul trailers to the backs of SUVs. It had been a while since I’d seen this scene – about 10 years. I graduated from college in 2005 and, after a short stint …