Student Loans and “The Tax Man”
Started getting those tax docments arriving in the mail? Remember that the income-driven repayment plans (like Income-Based Repayment and Pay As You Earn) limit a borrower's student loan payments to an affordable level given his or her income. Monthly payments are determined based on the borrower’s Adjusted Gross Income (AGI) and family size. To maximize the allowable reductions or adjustments from your total income: • Save for retirement. The best way to boost your adjustments is to save for retirement. Try…
The American Dream 2.0, New Report Recommends Federal Student Aid Overhaul
In the 1950s, the "American Dream" consisted of a black & white television (a color TV for the one lucky guy at the end of the block, who nobody liked anyway), a white picket fence, a beautiful or handsome spouse, a ranch-style home, and 2.5 children (of course, even that half-child ate more breakfast cereal than you believed one teenager capable of consuming). Today, the "American Dream" may be to simply find a job that pays enough to cover your student loan payments, fill the gas tank on a small car, and spring for a bi-weekly latte…
U.S. Warned on Student Debt Peril, Financial Times Reports
No parent should ever have to endure losing a child. Financial Times' writer Anjli Raval tells us a tragic tale made worse by a private student loan company's insistence that a grieving mother pay for an education that her deceased son will never use. Heather contributed to the article. Below is an excerpt from the article: Four years ago, Ella Edwards lost her 24-year-old-son Jermaine. Depressed and unable to work after the unexpected death of her only child, the 61-year-old retired, hoping to grieve in peace. But Ms Edwards…
The Tragedy of Student Loans
As many of you may already know, U.S. higher education is now a "debt-based system" due to ever-escalating tuition costs and declining median family incomes. That said, College Stats.Org has put together a very informative graphical display of the problem (shown here). Of note, many of College Stats.org's sponsored schools are for-profit colleges and universities who traditionally have a very poor track record for student loan borrower default and drop-out rates. The site does, however, offer some good information as well,…
25 Fun Facts About Elvis Presley, the King of Rock & Roll
In honor of the King's birthday (January 8) and Heather's appearance at the University of Memphis' Cecil C. Humphreys School of Law that same day, here are 25 fun facts about Elvis Aaron Presley: Elvis' famous black hair was dyed - his natural color was brown. Elvis purchased his first guitar when he was just 11 years old. He wanted a rifle, but his mama convinced him to get a guitar instead. In 1947, a local radio show offered a young Elvis (age 12) a chance to sing live on air, but he was too shy to go on. …
