The Truth about College Scholarships

The Truth about College Scholarships

With the rising cost of college, turning to private scholarships is one way to reduce the dependence on student loans However, there are many myths about college scholarships that set incorrect expectations and cost students money.. Unfortunately, the perpetual falsehoods regarding scholarships turn away many would-be recipients and can result in higher costs for college […]

How the Student Loan Debt Crisis Impacts Economic Growth

How the Student Loan Debt Crisis Impacts Economic Growth

While it continues to careen to new heights, a recent Forbes article highlighted the severity of the student loan debt crisis.As of the fourth quarter of 2016, students,includingformer students, accumulated over 1.31 trillion dollars in outstanding balances. Rising above both auto loans and credit card debt, trailing only mortgages. There are an estimated 44.2 million […]

How Today’s High Student Loan Debt is Stagnating Home Ownership

How Today’s High Student Loan Debt is Stagnating Home Ownership

By the end of 2016 consumers held over 12.6 trillion dollars in household debt, tapping on the door to the all-time high of 12.9 trillion dollars, reached in late October 2008, just before the Great Recession. The recession brought on massive loan defaults leading to financial write-offs by banks and lending institutions. As a result […]

Credit Bureau Reporting Changes as ofJuly 2017

Credit Bureau Reporting Changes as ofJuly 2017

The three major credit bureau reporting agencies, Equifax, Experian, and TransUnion will stop reporting most tax liens and judgments on credit files beginning July 1, 2017. The news made headlines in the Wall Street Journal and has significant implications for millions of consumers facing lower credit scores due to derogatory information found in public files.

Calculating Your College ROI – What is Your Return On Investment

Calculating Your College ROI – What is Your Return On Investment?

There was a time when attending college assured you of a better job, higher wages, and financial security. Many still tout higher education as the single best solution to provide upward mobility.That was when the majority of workers did not have college degrees. Today, 36% of the workforce carries a bachelor’s degree or higher, where […]

Auto Industry Debt Balances are Breaking Records! What This Means for Consumers

Auto Industry Debt Balances are Breaking Records! What This Means for Consumers:

As household borrowing levels surpassed pre-recession numbers seen in 2008, 2016 was a record-breaking year for debt accumulationThis time around consumer debt is not focused on the housing market:Consumers have concentrated borrowing for educational purposes in the form of student loan debt, rising credit card balances, and the purchase of expensive vehicles. Auto loan debt […]

Advantages and Disadvantages of Renting in Retirement

Advantages and Disadvantages of Renting in Retirement

Many Baby Boomers,nearing or just entering retirement, begin to look at ahouse that’s too big and no longer meets their needs: The kids have moved out, often live in a different city, and the yard and maintenance on the home become more than is manageable on a regular basis. Before finalizing a change in residence […]

Where to Find Free Money for College

Where to Find Free Money for College

Most students rely on the school of choice to offer a competitive financial aid package filled with both free money and loans to cover the cost of higher education. You typically find free money for college in the form of grants, fellowships, and scholarships. However, there are many opportunities for additional financial assistance not offered […]

Top 8 Financial Tips for First Time Home Buyers

Top 8 Financial Tips for First Time Home Buyers

Buying a home is often the largest purchase you will make in your lifetime.  For first time home buyers, this big decision can lead to both excitement and fear. Navigating the process in a systematic way can save you both time and money, while you search for a new place to call home.

Top 7 Credit Mistakes Baby Boomers Make

Top 7 Credit Mistakes Baby Boomers Make

In retirement, borrowing needs diminish, leading many seniors to neglect their credit, because it no longer seems important. However, companies use credit scores for more than just lending: Insurance companies evaluate credit to determine rates, especially among car insurance providers; most utility companies and mobile phone providers use credit to determine deposit requirements and account […]