Most college graduates leave with student loan debt, but did they know before entering college how big of a financial hole they were actually digging for themselves?
Q. My daughter is a college freshman and I’m trying to figure out what deductions we can take. We paid part of the tuition from a 529 plan and the rest is loans.
The Obama administration wants to expand the federal Pell grant program to help more students graduate from college -- by providing them with money to attend classes year-round and reward them for taking more credits.
Q. Our youngest son just graduated from film school, and while he looks for full-time work, he’s doing some project work in the industry. He has federal student loans but also $94,000 in private loans with a $850 monthly tab. It has a 14-year payback term with no option to extend. He could put it in forbearance for a year with the interest still accumulating. I’m pulling from retirement funds to help now, but we don’t know what to do. Help!
U.S. colleges will face new restrictions on using debit cards to distribute financial aid, and more people will have income-based options for repaying student loans under a pair of regulations given final approval by the Obama administration on Tuesday.