Author: Drew Cloud

FAFSA May Be Limiting Financial Aid

Many students who want to enroll in college often fill out the Free Application for Federal Student Aid (FAFSA).  This application is how the government determines the dependency status of upcoming undergraduates, and it is a huge factor in determining the amount of federal aid awarded.  While the FAFSA is an important tool for graduating high school students, it has some flaws that are reflected in a 2014 study conducted by the American Association of Community Colleges.  These flaws involve the number of dependent students compared to the number of independent students. The government recognizes dependent students as those...

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2016 Graduates Break Student Loan Debt Record

As graduation season approaches, there is one looming aspect of leaving school that most college students have in common: student loan payments.  Out of close to four million graduates, a good 70% of them have relied on financial aid throughout school.  The only difference between this year’s graduates and the last year’s batch of new adults is the average amount of debt owed. A recent study showed that the class of 2016 is going to owe the most in student loans per person ever; in fact, it breaks the record that was set just the previous year (according to...

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Study Shows Those With Student Debt Build Less Net Worth

A recent study sheds light on the long term effects that loan debt has on graduating students; the study analyzed the net worth and financial standing of people at the age of thirty who graduated with or without debt from financial assistance.  The overall reveal from the study shows that those without debt were able to build greater net worth after about ten years following graduation. This study, run by Min Zhan of the University of Illinois, was pulled from the Children and Youth Services Review Journal, and it took a sample of 1200 people born between the years...

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Employer Benefits Now Targeting Millennial Loan Debt

Given the recent plague of student loan debt upon the millennial generation, there have been many proposed solutions to eliminating this “disease” from various companies, startups, and the government.  There has been a recent new trend in the fight to “cure” student loans that involves some startups and employers. Previous solutions included federal loan consolidation where graduates could combine their loans into one single sum with one new overall interest rate and payment plan.  Another solution was refinancing a loan through a private company where new interest rates and payment plans were offered.  Plenty of startups came around to...

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Bankrate Releases Survey on Student Loans

Whenever college is brought up, student loans inevitably work their way into the conversation. They have become somewhat synonymous with the overall college experience as demand for them rises each year. It is not too surprising given the costs associated with higher education.A recent Financial Security Survey from Bankrate assessed the feelings of parents and students who are currently in college or soon going to college. The survey covered 1,000 parents over a few days, and the survey reveals some interesting results.One of the first important findings reveals that more students are going to be taking out student loans;...

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