Author: Amanda Reaume

You Should Get Life Insurance if You Have a Co-Signer on Your Student Loans

According to a report by the The Institute for College Access and Success, in 2011-2012 nearly 1.4 million undergraduate students borrowed $5.5 billion in private student loans. With college costs rising, it’s not surprising that students are having to resort to private student loans in order to cover their tuition, but what isn’t represented in that figure is how many of those students required cosigners in order to get those private loans.The majority of undergrads who take out private student loans likely have a cosigner on those student loans. That’s because most 18-year-olds haven't built a credit history when...

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Colleges Shouldn’t Pay for Student Loan Defaults

It seems like every year the student loan crisis gets worse. Currently, students are graduating with an average of $27,857 in student debt. In total, over 44 million Americans owe a record $1.3 trillion in student loans and about 4.7 million of them are currently in default on those loans.With frightening statistics like that, it’s not surprising that politicians and pundits are trying to think of ways to fix the problem. One solution that has been bandied about is to have colleges take some responsibility when their graduates fall behind on their loans.At first glance, it seems like it could...

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Student Loans Are Impeding Millennial Entrepreneurs

We love hearing rags to riches stories about undergraduates starting businesses which go on to change the world. Microsoft, after all, was famously started by Bill Gates while he was still in school and Facebook was launched by Mark Zuckerberg when he was at Harvard. These two well-known stories speak to the youthful entrepreneurial energy that has helped young people from each generation launch businesses either right out of school or soon after.Sometimes these businesses come directly out of some aspect of their coursework or research, but other times students just get the entrepreneurial bug and a great idea...

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The Government Should Forgive Loans and Allow Students to Keep Credits From Shuttered Schools

Earlier this year when ITT Tech closed down, students were forced to make a difficult decision. They could keep their credits and repay their student loans or they could get their student loans forgiven and lose their credits.Those who chose to keep their credits could, in theory, transfer them to another institution and continue their degree while those who chose to have their loans forgiven would have to start their programs again from the beginning.This isn’t the first time that students had to make this kind of choice. When schools like Everest College and Corinthian Colleges, students who were...

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Student Loans are Such a Problem Because Young People Don’t Vote

At this point in the election cycle, it’s almost impossible to drown out media coverage and water cooler conversations about the candidates. While this year might be different than most due to the sheer number of salacious headlines, what will likely remain the same is that few young people will turn out to vote.According to Pew Research, in 2012, millennials aged 18-29 made up over 19% of the electorate – but only 46% of them showed up to cast their ballots. This is a big problem. When groups of people don’t vote, politicians are generally less likely to create...

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