student loan debt

Education Crisis: Student Loan Rates Soar

Posted on 07/3/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsFor college students like my son who rely on federal student loans to help finance their higher education, and for older workers who’ve returned to school in an effort to boost their job opportunities, these are anxious times. Just one month before the fall semester begins, Congress on Monday failed to stop student loan interest rates from doubling. Now interest rates on subsidized Stafford loans, which are part of  students’ financial aid package, stand at 6.8 percent. That’s double the …

Student Loans Crushing Hopes for Some Near Retirees

Posted on 11/12/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsSpiraling college tuition, and the student loan debt that typically accompanies it, are busting the retirement plans of millions of near-retirees. People 60-plus now hold the dubious distinction of being in the fastest-growing age group for college debt, according to The New York Times. In the first quarter of this year, some 2.2 million student loan borrowers were age 60 and older, a three-fold increase from 2005. Together, they owed $43 billion in student loans. But the debt is so crushing that …

Congress Closes In On Deal To Keep Student Loan Interest Rates Low

Posted on 06/27/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsFor those of you with children or grandchildren about to start college, there may be some good news to report. Congress seems ready to agree to a deal that would prevent interest rates on federal subsidized student loans from doubling to 6.8 percent. Democrats and Republicans both say they want the deal, but they’re still arguing over how to finance it. If they can reach agreement by July 1, rates will remain at 3.4 percent for another year. And that …

A Lifetime of Debt

Posted on 05/7/2012 by |The Ultimate Cheapskate | Comments

Money & SavingsGrowing up 40 years ago, one of my favorite pastimes was playing The Game of Life, the classic Milton Bradley board game that takes players through their simulated lives – from college to retirement – with make believe jobs, families, and other life-changers all along the way.  It was always a lot fun to play, and it gave me a chance to fantasize a little about what my own real-life future might be like. The other day I ran across …

Say ‘No’ to Co-Signing Loans for Family, Friends

Posted on 01/24/2012 by |AARP Blog Author | Comments

Money & SavingsThis is a guest post by Lynnette Khalfani-Cox, host of the AARP Pay Down Your Debt Challenge, which is taking place on AARP.org through Jan. 29. Learn how to get started paying down your debt, join the Pay Down Your Debt group, and you could have a chance to win a prize. Of all the financial mistakes that we can make – and later regret – loaning money to family and friends ranks perhaps among the biggest of them. It’s …