Financial Aid
Financial Aid News
- Assigning blame for high student loan debts
My Your Money column this weekend is the story Cortney Munna, a 26-year-old graduate of New York University who somehow ended up with nearly $100,000 in student loan debt.
Getting at the “how” in “somehow” is tricky. She and her mom signed the loans, but I don’t think they deserve all of the blame. Citibank started lending Ms. Munna money while she was still a teenager, without any sense of her income prospects. And financial aid officers at N.Y.U. had a view of the big picture and the growing debt, or at least they should have. Shouldn’t someone there have talked beforehand to Ms. Munna and her mother about the implications of borrowing so much?
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- The Millionaire Cop Next Door
When considering employment after college, you may want to check out the public sector. According to this article from Forbes, public sector employees make, on average, DOUBLE that of their private sector contemporaries (when you factor in benefits). Maybe its time to start studying for that civil service test...
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- Education Department Delays Rules on Private Colleges
The Education Department said Tuesday that it had split off and delayed a decision on the most controversial part of proposed new student-aid regulations — the treatment of for-profit college programs whose graduates do not earn enough to repay their loans.
While a package of proposed new student-aid regulations was released Tuesday, a department official said no decision had been reached about what debt-to-income ratio would make for-profit programs ineligible for federal aid.
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