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☆ The housing market is about to take a hit as student loan payments restart
▼ + stars: | 2023-09-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The restart of student loan payments is about to hit the housing market. 58% of polled experts believe that the resumption of student loan payments could have a significant impact on mortgage affordability, according to a recent analysis conducted by Pulsenomics. Student loan payments will kick back in at a time when housing affordability is already strained. The effects of the student loan payment restart may be felt for years to come, too. AdvertisementAdvertisementStudent loan payments are set to resume on October 1, ending a three-year payment pause that began during the pandemic.

Persons: Morgan Stanley, That's Organizations: Service, Pulsenomics, Inside Mortgage Finance, US Department of Education, Education Data Initiative Locations: Wall, Silicon, delinquencies

☆ 15 cities where getting a graduate degree pays off the most
▼ + stars: | 2023-08-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

The San Jose area has the largest pay gap between holders of a graduate degree versus a bachelor's. Some top law schools cost over $200,000 over the course of the program, while medical schools average nearly $219,000 a year. SmartAsset found the average graduate degree holder made $72,000 a year. For cities including The Villages, Florida; Prescott, Arizona; and Morristown, Tennessee, graduate-degree holders made less than $55,000. Florida has two metropolitan areas in the top 15 for graduate-degree income difference, though neither Texas nor New Jersey ranks in the top 25.

Persons: SmartAsset Organizations: Trenton, Service, Education Data Initiative, Park, San Locations: California , Alabama, Utah, San Jose, Huntsville , Alabama, Princeton , New Jersey, Wall, Silicon, Sunnyvale, Santa Clara, California, Princeton, New Jersey, Jose, San Francisco, Huntsville, Trenton, George , Utah, Zion, Provo, Orem, Merced, Fresno, Tuscaloosa , Alabama, Elizabethtown, Fort Knox, Kentucky, Florida, Prescott , Arizona, Morristown , Tennessee, Florida , Texas, New Jersey . Florida, Texas

It’s not too late to apply for financial aid or appeal the financial aid amount that was given. “It doesn’t mean that we run out of funding,” said Phil Asbury, Director of Financial Aid at Northwestern. With the financial aid office, students shouldn’t brag or boast about grades. Explain what has changed in your situationAt Emory University, “students can contact the Office of Financial Aid at any point” with what’s called “a special-circumstances appeal,” said John Leach, Associate Vice Provost for Enrollment and University Financial Aid. Inform the school’s financial aid office right away and in some cases, financial aid can increase, he said.

Persons: It’s, ”, Phil Asbury, “ Don’t, Lissett Bohannon, “ It’s, University of Chicago’s Youssef Hasweh, Hasweh, shouldn’t, what’s, John Leach, Leach, ” Leach, FAFSA, Vicki Vollweiler, Vollweiler, Miranda McCall, Duke, ” McCall, “ Organizations: CNN, Columbia University, University of Wisconsin, University of Colorado, Education Data Initiative, Northwestern University, Aid, Northwestern, University of Chicago’s, Federal Student Aid, Emory University, Financial, Enrollment, University Financial, College Financial, “ Locations: New York City, Madison, University of Colorado Boulder, United States, Illinois

☆ Undergrad enrollment in petroleum engineering has dropped 75% over the past 10 years — even though they make 40% more than computer science grads
▼ + stars: | 2023-08-10 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Undergraduate enrollment in petroleum engineering is down 75% since 2014, WSJ reported. That's despite the fact that the average petroleum engineering grad makes 40% more than a computer science grad. Heinze told the Journal of Petroleum Technology that over 90% of petroleum-engineering students at Texas Tech have jobs right after graduation. But when it came to picking which career paths were most attractive, the Gen Zers surveyed ranked finance as the most promising industry regarding career prospects. Education was ranked the second-most popular industry when it came to career prospects, and STEM, which includes engineering, was ranked fifth.

Persons: That's, Lloyd, Young, Heinze, Zers Organizations: Morning, Petroleum, Street Journal, Texas Tech University, University of Oklahoma's, Louisiana State University and Colorado School of Mines, Department of Education, US Bureau of Labor Statistics, Colorado School of Mines, Journal of Petroleum Technology, of Petroleum Technology, Texas Tech, CFA Institute, Education

☆ Why college is getting more expensive
▼ + stars: | 2023-07-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

After adjusting for currency inflation, college tuition has increased 747.8% since 1963, the Education Data Initiative found. But the net price of college — that’s the amount that students and their families are actually shelling out — has been decreasing. The average student at a private four-year college paid $32,800 for tuition and room and board last year. When adjusted for inflation, the actual price paid for private college has dropped by 11% over the past five years, according to College Board data. In a 6-3 decision the Supreme Court struck down the Biden administration's student debt forgiveness program in Biden v. Nebraska.

Persons: Brian Snyder, ”, Megan Brenan, Catharine Hill, “, —, couldn’t, ’ ”, they’ve, Kevin Dietsch, Joe Biden’s, Biden Organizations: New, New York CNN, College, US News, Harvard University, Harvard, Reuters, Education Data Initiative, Georgetown University Center, Education, Gallup, Vassar College, “, ”, National Education Association, Foreign Relations, Economic, Institute, luxe, ” Colleges, American, of Trustees, NEA, College Board, U.S, Supreme, Biden, . Nebraska Locations: New York, Cambridge , Massachusetts, United States, “, Washington , DC, .

☆ Pay student loans or invest in your 401(k)? You may soon be able to do both at once
▼ + stars: | 2023-07-07 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Following the Supreme Court's ruling on President Joe Biden's student loan forgiveness plan, interest on student debt will begin to accrue in September, with payments due in October. Borrowers with federal student loan payments currently owe $37,338, on average, with a median monthly payment of $250, according to the Education Data Initiative. But for certain workers — especially those with piles of student debt — finding room in the budget to invest for retirement can be difficult. Under the new law, employers can make matching contributions to workplace plans — including 401(k)s, 403(b)s, 457(b)s and SIMPLE IRAs — based on an employee's qualified student loan payments. In order to qualify for the match, workers must simply certify that student loan payments have been made.

Persons: Joe Biden's Organizations: Education Data

☆ The Supreme Court justices paid an average of $42,539 to go to college. Today, they'd have to pay around $320,531.
▼ + stars: | 2023-06-30 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +6 min

The Supreme Court struck down Biden's student loan forgiveness plan. Student loan payments will likely resume in October. For the justices behind the decision, the cost of an undergraduate degree was much cheaper when they were in school. According to EDI, there was a 2,807% increase in the average student loan debt at graduation between 1970 and 2021 before adjusting for inflation. Student loan borrowers gathered at the Supreme Court today to tell the court that student loan relief is legal on January 2, 2023.

Persons: —, Joe Biden's, Biden, Clarence Thomas, Wally McNamee, Samuel Alito, Sonia Sotomayor, Elena Kagan, John Roberts, Ketanji Brown Jackson, Roberts, Jackson, Brett Kavanaugh, Neil Gorsuch, Amy Coney Barrett, Larry French, Thomas, Gorsuch Organizations: Service, Republicans, White, Education Data Initiative, The College of, Princeton University, Harvard, Yale, Columbia University, Rhodes College, Associated Press, AP

☆ The Supreme Court’s affirmative action ruling could hurt the job prospects for candidates of color
▼ + stars: | 2023-06-30 | by ( Chandelis Duster | ) edition.cnn.com time to read: +6 min

CNN —The Supreme Court’s landmark decision shooting down affirmative action could hurt the college-to-career pipeline many companies lean on to diversify their ranks. The Supreme Court’s Thursday ruling could make it even harder for those efforts to bear fruit. Elite schools offer opportunities like networking, graduate resources and mentoring, as well. Not being admitted to elite schools could thus harm many candidates of color. Legal, medical fields still lack diversityIn the legal profession, for example, law schools are key for the pipeline to clerkships and even judgeships.

Persons: ”, Cara McClellan, McClellan, White, Joni Hersch, ” Hersch, Hersch, you’ve, Bryan Cook, ’, Christopher L, Eisgruber Organizations: CNN, The University of Pennsylvania Carey Law School, Black, Fortune, Racial, Civil Justice Clinic, Apple, Google, Starbucks, Procter, Gamble, American Medical Association, AMA, Bureau of Labor Statistics, Vanderbilt University, Lumina Foundation, Gallup, Higher Education, Elite, Education, Urban Institute, American Bar Association, National Association for Law, American Bar Federation, Internal, ” Princeton University, University

☆ 'I did not lose hope': How it feels to have $19,000 in student loan debt forgiven
▼ + stars: | 2023-05-17 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

But in 2022, they got a major boost: Francis had $19,000 in student debt erased through Public Service Loan Forgiveness (PSLF), despite being previously rejected. The program allows borrowers who work for government or nonprofit organizations to have their federal student loan balances cleared after 120 qualifying monthly payments. But currently, routes to student debt forgiveness are limited. To earn PSLF, borrowers have to make monthly payments — and continue working for an eligible employer — for 10 years. As of 2019, she had worked for the federal government for 14 years and made regular student loan payments.

The young entrepreneur made waves as a teenager by scoring over $2 million in college scholarships, which allowed her to graduate debt-free from Princeton University in 2022. Through brand deals, digital products and private consultations, her business, Growing With Gabby, earned $177,000 in 2022. Gabby Carter, 22, earned $133,000 last year from her corporate job and her business, Growing with Gabby. But throughout high school and during college, she won 35 different scholarship awards totaling over $2 million — enough to graduate debt-free and with over $100,000 in savings. "That made people very curious about how I was able to have scholarship success."

☆ Making these 5 moves can help you save big on the massive cost of college
▼ + stars: | 2023-05-04 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +7 min

As the mother of a college sophomore and high school senior, I know thinking about paying for college is daunting. Financial aid is determined by income information that is not necessarily up to date. If your circumstances are now different, that should be brought to the financial aid office's attention, he said. If you're concerned about making ends meet based on the financial aid award letter your child has already received, you can still ask for more aid. "So performing well throughout your high school career is not only important for admission but also for scholarship awards."

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). See Insider's picks for the best student loan refinance companies »Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. APR Variable: 5.38% - 8.99%, Fixed: 4.99% - 8.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 4.74% - 9.99% with AutoPay, Fixed: 4.49% - 9.99% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Show more Variable: 4.99% - 8.94%, Fixed: 4.96% - 8.99% (with AutoPay discount) Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Apply now Apply now Apply nowGetting the most bang for your buckI was an English major at Berkeley.

☆ How to haggle with your college over financial aid
▼ + stars: | 2023-04-28 | by ( Dayun Park | ) edition.cnn.com time to read: +6 min

In some cases, filing an official financial aid appeal may even delay the deadline for putting down a deposit. Here, according to college financial aid and admissions officers, consultants and students, are the steps to take:Email, don’t call, and handle it yourself. “If there has been a significant reduction in income compared to your application, inform the school’s financial aid office; in some cases, financial aid can increase,” said Phil Asbury, Director of Financial Aid of Northwestern University in Illinois. The opportunity to increase need-based aid depends on the accuracy of your documented financial change and the financial ability of the school to make a change,” John Leach, Associate Vice Provost for Enrollment and University Financial Aid at Emory University, told CNN. Northwestern has a “priority deadline” so that the financial office can notify students early, but students can still apply for financial aid all year round.

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). The Secure Act 2.0, signed into law last year, makes it easier to prepare for retirement when you have student loans. Secure Act 2.0 allows employers to match employees' student loan payments with retirement contributions. The average monthly student loan payment is $460, according to the Education Data Initiative. Personally, I have [ insert student loan total here ] in student loans, and my monthly payments are [ insert monthly student-loan payments here ] .

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

☆ Top 10 colleges to attend if you want to make a lot of money—Harvard and Yale didn't make the list
▼ + stars: | 2023-04-06 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +3 min

Former Caltech attendees earn a median income of $112,166 a decade after starting school, making them the highest earners among the nearly 900 colleges ranked. California Institute of Technology Median income 10 years after attendance: $112,166Median debt among graduates: $17,747 2. Massachusetts Institute of Technology Median income 10 years after attendance: $111,222Median debt among graduates: $13,418 3. Stevens Institute of Technology Median income 10 years after attendance: $98,159Median debt among graduates: $27,000 8. Princeton University Median income 10 years after attendance: $95,689Median debt among graduates: $10,450 It shouldn't be too surprising to see several technical colleges make the list.

☆ Ron DeSantis will spend up to $4 billion on school vouchers for Florida families to challenge 'woke' public schools
▼ + stars: | 2023-03-29 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +5 min

Ron DeSantis is waging a war against 'woke' public schools. On Monday, the governor signed universal school vouchers into law, which both conservatives and liberals expect to hurt public schools. Public school enrollment has only dropped a few percentage points, from 89.6% to 87.2%, since Republican Gov. Now, however, DeSantis' move to broaden the voucher program to all Florida families could meaningfully threaten funding for public schools. Spar fears universal vouchers "will literally siphon money away" from public schools because it's all under the same education budget.

☆ The Supreme Court justices deciding whether to axe Biden's student loan relief program paid an average of $42,539 to go to college. Today, they'd have to pay around $320,531.
▼ + stars: | 2023-03-01 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +8 min

The Supreme Court heard oral arguments for Biden's student debt relief on Tuesday. The cost of getting an undergraduate degree was significantly cheaper when they graduated than now. When Roberts graduated in 1979, it cost $21,400; in 1992 when Jackson earned her undergraduate degree, it would have cost $75,360. When Roberts graduated in 1979, it cost $21,400; in 1992 when Jackson earned her undergraduate degree, it would have cost $75,360. Student loan borrowers gathered at the Supreme Court today to tell the court that student loan relief is legal on January 2, 2023.

☆ Studying abroad can cost over $16,000 per semester—here's how students plan to pay for it
▼ + stars: | 2023-01-31 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +4 min

As a result, many students are turning to other options to pay for studying abroad — if they're available. The cost of studying abroad may be one of the biggest deciding factors in who gets to go. Black students made up just 4% of students who studied abroad in the 2020-21 school year. While the share of non-white students studying abroad increased by 10 percentage points between the 2010-11 and the 2020-21 academic years, white students still make up 68% of students studying abroad, according to the Institute for International Education. While white students and Black students take out loans at similar rates — 40% of white students use loans to pay for college compared with 50% of Black students, according to Education Data Initiative — Black students often have a harder time paying back their loans.

☆ Earning less than $30,000 a year is a 'deal breaker' for daters, new survey finds
▼ + stars: | 2023-01-28 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

This is especially alarming because, as it turns out, people do have financial deal breakers when it comes to seeing someone as a potential partner. Here are two financial deal breakers, according to the study. Salary deal breaker: Less than $29,878This is well below the median annual salary in the United States, which is $37,522, according to 2021 data from the U.S. Census Bureau. Student loan debt deal breaker: More than $28,076This is below the average amount of student loan debt someone with a bachelor's degree has, which is $37,574, according to data from Education Data Initiative. Personal loans and credit card debt were also a source of friction while dating, according to the survey.

The Biden administration has proposed changes that could dramatically lower monthly student loan payments. The plan calculates monthly payments based on a borrower's discretionary income. Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. APR Variable: 4.49% - 8.99%, Fixed: 4.49% - 8.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 3.99% - 8.99% with AutoPay, Fixed: 4.39% - 8.99% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. According to the Education Data Initiative, half of student loan borrowers still owe $20,000 each on outstanding loan balances after 20 years of entering school.

☆ Here are the people who will lose out most if student loan forgiveness falls through
▼ + stars: | 2022-12-28 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

People of colorThe student debt crisis is cited as a main factor for the wide racial wealth gap in the U.S. today. Black college graduates owe an average $7,400 more than their white peers, a Brookings Institution report found. And that inequity only gets worse with time: Black college students owe more than $52,000 four years after graduation, compared with around $28,000 for the average white college graduate. WomenWomen were widely recognized as the biggest winner of Biden's student loan forgiveness plan, since they owe two-thirds of the country's outstanding student debt. "Women will be the most affected if loan forgiveness fails," Kantrowitz said.

☆ 360,000 student loan borrowers received $24 billion in forgiveness from fix to Public Service Loan Forgiveness
▼ + stars: | 2022-12-08 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

In October 2021, the Biden administration announced a one-year opportunity for student loan borrowers pursuing the Public Service Loan Forgiveness to get closer to being debt-free. Signed into law by then-President George W. Bush in 2007, the Public Service Loan Forgiveness program allows certain nonprofit and government employees to have their federal student loans canceled after 10 years, or 120 payments. More from Personal Finance:Biden's student loan forgiveness plan is on holdInflation-adjusted college costs declineThese colleges promise no student debtThe average borrower got more than $67,000 in student debt cleared. "These borrowers previously faced obstacles based on frustrating technicalities despite having worked in a qualifying public service job," Kantrowitz said. The reforms under the Biden administration included reassessing borrowers' timelines and counting some payments that were previously ineligible because of a borrower's loan type or repayment plan.

☆ LGBTQ students wrestle with tensions at Christian colleges
▼ + stars: | 2022-12-05 | by ( Associated Press | ) www.nbcnews.com time to read: +12 min

“It’s kind of a tightrope,” said John Scarano, campus ministry director at John Carroll University, a Jesuit school near Cleveland with “safe zone trainings” as part of its ministry to LGBTQ students. Last year, 33 LGBTQ students or former students at federally funded Christian schools filed a class-action lawsuit against the U.S. Department of Education, claiming the department’s religious exemption allows schools that receive federal dollars to unconstitutionally discriminate against LGBTQ students. In May, the Department of Education’s Office for Civil Rights launched a separate investigation for alleged violations of the rights of LGBTQ students at six Christian universities — including Liberty University. A high-stakes clash between students, faculty and the school’s board of trustees over hiring LGBTQ faculty is unfolding at Seattle Pacific University, a 131-year-old school affiliated with the Free Methodist Church. “I find that tragic.”To students like Fisher in Minnesota, concrete actions will show if LGBTQ people can truly be welcomed on Christian campuses.

Refinancing your federal student loans with a private lender makes you ineligible for the Public Service Loan Forgiveness program. You will also lose access to income-driven repayment plans and economic hardship forbearance by refinancing your federal student loans. There are three reasons she decided to skip PSLF altogether and pay off her student loans on her own. Micah didn't want to go through 10 years of service and paperwork just to be denied at the end. She waited to finish paying off her undergraduate student loans before going to grad school at Columbia.

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