Students duped into taking out loans to pay for college could get a tax break if a new Senate bill gets some traction.
A growing percentage of parents say their children will use student loans to pay for college.
The 2016 average student debt total is $37,173, a bump of 6.05% over 2015 and the largest it’s ever been.
The Consumer Financial Protection Bureau has asked a federal court to shut down a student debt-relief company that charged students millions of dollars in illegal upfront fees.
The recent Fed rate hike affects private student loans, too. Borrowers might want to take a second look at their most recent billing statements.
Fintech startup MPOWER Financing is offering personal loans to students for things like tuition or university-sponsored services without the need for collateral.
Credit card debt is becoming a staple of the American household, as more people look to plastic as a personal loan. An estimated 60% of Americans have credit card debt.
Within the past 5 years, 42% of millennials have used alternative financial services like payday loans, pawnshops, car title loans, tax refund advances or rent-to-own products.
Why are millennials more likely to use personal loans? One reason is because they are delaying home ownership and can’t borrow against the equity in their homes.
More than half of consumers say student loan debt is at least somewhat of an obstacle to buying a home, according to a new survey.