student loans

Student Financial Aid Goes To The Rich And The Poor Get Debt Instead

Did you know rich students get financial help from colleges while the poor ones get laden with debt instead?  Such is the conclusion of a new report, Demerit Aid, from the New America Foundation.  While Pell grants tallied $35 billion in 2012, universities are reducing their own financial aid based on income and instead, shifting those funds to the wealthy students.

The Student Loan Money Machine

Going to college these days amounts to sinking oneself into a lifetime of massive debt.  A new student advocacy report spells out some damning facts.  Did you know the federal government is slated to make a whopping $34 billion in 2014 off of student loans?  Meanwhile other reports are showing student debt is keeping people from obtaining credit, buying a home and moving on with their lives.

The Third Party Debate

political grave yard
Disgusted by both parties? Upset that both Obama and Romney will do nothing about globalization, bad trade, importing foreign guest workers, offshore outsourcing, financial reform, stopping too big to fail, protecting the environment, soaring education costs, underwater mortgages, jobs, jobs, jobs, for profit health care costs or pick your pet peeve issue? If you're in a State where the election isn't close, lest you forget Florida 2000, you might want to check out third party candidates. There are four choices although they are not all on every ballot in every state.

Libertarian Party candidate Gary Johnson, Green Party candidate Jill Stein, Constitution Party candidate Virgil Goode, and Justice Party candidate Rocky Anderson. The hour and half event was moderated by former CNN anchor Larry King and Christina Tobin, founder and chair of the Free and Equal Elections Foundation and is available on C-Span and also the entire debate is viewable below for your political pleasure.

Low Income Households Have Expenses More Than Twice Their Income

A shocking claim was made by various press sources that those at the bottom of the American economic pile have living expenses which are double their income.

The bottom fifth of the U.S. income distribution -- 24.4 million households -- on average earned $10,074 in after-tax annual income and spent $22,001 last year,

Student Loan Debt Time Bomb

ozzieharrietAh, the American Dream.  Go to college, work hard, graduate, get a good job, career and then you'll be set for life with high earnings, enough money to buy a home, raise a family and retire comfortably.

Oops, rewind, this isn't the Ozzie and Harriet show, it's real life.  Did you know student debt is one of the few debts one cannot declare bankruptcy on, no matter what?  That literally you have to be in a pine box, or close to it, to have your debt forgiven?  That 53.6% of those under the age of 25 with a four year college degree or better cannot find a job?

Student loan debt is now the next great bubble, threatening the U.S. economy as the mortgage crisis did. The NACBA released a study and calls student loan debt the next financial crisis, on the level of the mortgage crisis.

  • College seniors who graduated with student loans in 2010 owed an average of $25,250, up five percent from the previous year. Borrowing has grown far more quickly for those in the 35-49 age group, with school debt burden increasing by a staggering 47 percent.

Saturday Reads Around the Internets - Silicon Valley Sexism & Other Slimy Stories

shocknews Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop. Sometimes events are just tidbits of more injustice, absurdities and disaster.


Corzine Will Get Away With It

How many times have we seen this?