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Student loan scam

5 Ways to Spot a Student Loan Scam

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“I LOVE my student loan debt,” said no one, ever. Not only can student loan repayment be difficult to understand, it can crush your budget, and whenever there’s confusion and desperation, there’s someone trying to make money off it. There are a handful of legitimate ways you can make your student loan payments more affordable, but it’s very likely you’ll come across student loan scams if you’re researching repayment options. These scams vary widely — […]

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    This For-Profit School Is Forgiving $23.5 Million in Student Loan Debt in CFPB SettlementConsumer Protection, student loans

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    A for-profit school that allegedly told students their loans would only cost $25 per month to repay must now forgive those loans, federal regulators announced Monday. The firm, publicly-traded Bridgepoint Education Inc., has agreed to discharge all outstanding private loans and refund some students after allegations that it engaged in unfair or deceptive practices, the Consumer Financial Protection Bureau announced Monday. San Diego-based Bridgepoint currently has nearly 50,000 students, mostly enrolled online in schools it […]

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    The Weird Way Missing a Student Loan Payment Can Absolutely Destroy Your Creditstudent loans, Personal Finance

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    If you have student loans and have looked at your credit reports, you might’ve noticed there are multiple entries for your loans. That’s because each disbursement can be reported as a separate loan, even if you make just one repayment each month. And while a student may get just one federal loan for the year, it will usually be given to them in two or more disbursements. Multiply two or three disbursements over a four- or five-year […]

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    4 Programs That Can Help You Get Out of Student Loan Debtstudent loans, Personal Finance

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    In 2015, 71% of college graduates left school with an average of $35,051 in debt, nearly quadruple the average debt among college graduates in 1993. That’s a lot of debt to be strapped with as graduates make their way into the working world. Fortunately, there are options that can help some borrowers pay off that debt earlier, have some of it forgiven or make the payments easier to handle. If you’re struggling with student loan debt, […]

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    The Big Things Missing from Hillary Clinton’s Student Loan PlanPolitics, student loans

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    Hillary Clinton unveiled her new and improved plan for making higher education more affordable. A few of her policy ideas are refreshed retreads, some others break new ground, and a few don’t do anything at all. For example: 1. “Students should never have to borrow to pay for tuition, books, and fees to attend a 4-year public college in their state…” Secretary Clinton proposes that the federal government support this goal with additional funding, the […]

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    5 Ways New Grads Can Screw Up Their Creditstudent loans, Personal Finance

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    Graduation can be an exciting and exhilarating time, but if you thought the era of grades and scores was over, I have some bad news: It’s not. While the As and Bs are behind you, they’ve been replaced with another number … a tricky little three-digit number called your credit score. Your credit score is a calculation of your creditworthiness based on your credit history. It may be a lot to process right now, so […]

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    FTC Cracks Down on Student Loan Debt Relief SchemesConsumer Protection, student loans

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    Some student loan borrowers having trouble repaying their loans are getting desperate, causing them to look for help in the wrong places. Federal regulators announced another crackdown this week on firms that charge illegal up-front fees, and ongoing monthly fees, selling debt relief services to these borrowers that are generally available for free. Three cases announced this week by the Federal Trade Commission add to similar cases already announced by other federal regulators, revealing the extent […]

  • Think Student Loans Are Millennials’ Biggest Problem? Think AgainFinancial Literacy, Education, student loans

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    Study after study has highlighted the problem of growing student loan debt in America and its specific burden on people in their 20s and 30s. The majority of recent college graduates are coming out of school with thousands of dollars in debt, but student loans are only part of young Americans’ financial obstacles. In fact, credit card debt is just as common as student loan debt, according to a survey from Experian Consumer Services. Experian […]

  • 4 Steps for Getting the Best Financial Aidstudent loans

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    We have all heard it in the news. Most of us have even heard it from our friends and family: Student loan debt is taking a serious toll on those who choose to pursue higher education. In order to curb some of these intimidating costs, it’s a good idea to make sure that you or your child applies to receive financial aid. You may think you know how to fill out the necessary forms and get […]

  • Students Are More Freaked Out About College Costs Than Their Parentsstudent loans, Personal Finance

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    Part of the problem with Americans’ insane amount of student loan debt is how many young adults get these loans without really grasping how much they will cost. More often than not, college-bound borrowers don’t have experience budgeting all the expenses that come after college, so it’s understandably difficult to comprehend how a $30,000 annual tuition bill will translate into post-graduate finances. Parents, who have that budgeting experience, would seem to have a better understanding […]

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