Author: Amanda Reaume

Student Loans Are Creating a Mental Health Crisis

Most of us have heard about the student loan crisis and its shocking statistics. Millennials who take out student loans graduate with an average of over $28,000 in debt and many are putting off important life milestones like getting married, moving out of their parents’ home, buying a house, and even having kids because they are struggling with their student loan repayment.But perhaps the part of the student loan crisis that we hear about the least is the mental health crisis that it has created.Millennials Are More Stressed Than Other GenerationsA recent study by the American Psychological Association found...

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Why You Shouldn’t Put Off Your Life to Pay Off Your Student Loans

We often hear about how millennials are putting off important life milestones in order to repay their student loans. They’re living at home with their parents longer, waiting to get married, delaying having children, and putting off saving for retirement.For some millennials, this is because they’re barely able to make the monthly payments on their student loans because they’re underemployed. But many others are deciding to prioritize repaying their student debt in order to get debt free sooner and are putting any additional money that they have towards their student debt. It makes sense; after all, the average debt...

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Other Countries are Handling College Financing Better

We hear all the time about the U.S. student loan crisis, but have you ever wondered how other countries are faring with student loans? It turns out - much better than the U.S.In fact, they’re not just ensuring that their graduates leave school with less debt, but they’re also making sure that college is more accessible and more young people are able to get a post-secondary education.In the 1970s, the U.S. was the world leader in the number of 25-34 years old who had four year degrees. That rank has fallen dramatically – the U.S. now is 12th in...

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Student Loan Repayment Benefits Are Not Enough

In the last few years, employers have stepped up in their attempts to help their employees address the challenges that they're facing with student loans. According to the Society for Human Resource Management, around 3 percent of employers currently offer some sort of student loan repayment assistance program and many more employers are planning to add the perk in the coming years.These benefits particularly help millennial borrowers who have been graduating with overwhelming amounts of student loan debt and struggling to pay it off. But employers also benefit since their perks are relevant to their employees and that makes...

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Step-Parents Shouldn’t be Included in Financial Aid Calculations

For students who come from divorced and blended families, applying for financial aid is often a confusing and frustrating experience. Colleges, the CSS Profile, and the FAFSA have struggled over the years trying to figure out how to treat blended families where parents have divorced and there is often one or more step-parent in the picture. Should they just take the biological parents’ financial information into account? Should they count just the custodial parent and their new spouse’s resources or the resources of the non-custodial parent and their new spouse?Currently, children of divorced or never married parents must only...

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