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Student Debt

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NEWS
April 11, 2006 | By REBECCA W. RIMEL
LATE LAST month, Penn president Amy Gutmann and the the university board sent a clear and powerful message to high school graduates from lower-income families: You can afford to go to college. If you're admitted to Penn, you can graduate without the burden of unmanageable student loan debt. By promising to replace loans with grants, which do not need to be repaid, for students from families with incomes below $50,000, Penn is taking the lead with other elite universities to address growing concern about student debt and ensure their doors are open to all qualified students.
NEWS
July 19, 2013 | BY REP. BRENDAN F. BOYLE
IN ADDITION to the education crisis that many students and parents are facing throughout Philadelphia, our nation faces a rising problem that will have a drastic impact upon our entire economy. In the past few months I have had the opportunity to meet with people across southeastern Pennsylvania and hear their concerns. Among them is the ticking time bomb of student-loan debt. Whether the person I was speaking to was a parent, a current student, a recent graduate or someone who graduated decades ago, their fears are all the same - fear that they may not be able to cope with the cost of achievement and advancement through the pursuit of a college education.
BUSINESS
July 9, 2009 | By Sonja Ryst INQUIRER STAFF WRITER
Kelly Ohlert has a job at a Center City law firm, but she can't afford to buy a home to accommodate her growing family. The reason: She racked up around $150,000 in student loans while earning a master's degree at the University of Pennsylvania and a law degree at Temple University. Ohlert, 29, might be on the high side, but she is hardly alone. Pennsylvania residents' student debt averages ranged from $27,877 to $30,389 in the 2007-2008 academic year, according to estimates by FinAid, a financial-aid Web site.
NEWS
October 29, 2014 | Michelle Singletary, Washington Post Writers Group
SOMEONE SAID to me that I make too big a deal of student-loan debt. Really? I heard similar comments before the housing crisis. We now know how that turned out. Next month, thousands of college graduates will see an end to their six-month loan grace period and will have to start making payments. Many will easily handle the payments. Others will struggle. When you look at the average debt that graduates have - just shy of $30,000 - the amount doesn't seem so daunting. But the average figure doesn't reflect the many people who are carrying much more than that.
NEWS
December 29, 2014 | By Erin E. Arvedlund, Inquirer Columnist
What's another name for student debt consolidator? A new low in scam artists . So here's how not to become a target of "debt relief" companies. Many 2014 college graduates are receiving their first loan bills. Student loans total $1.2 trillion nationally, and about seven million students have defaulted. You don't need to pay anyone to get help with, or to restructure, your federal student loans - period. (Private loans are another matter entirely). Do it yourself for free.
BUSINESS
May 20, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
The college class of 2014 numbers 1.6 million. And as these students graduate this month and next, many will be carrying tens of thousands of dollars in debt, contributing to the $1 trillion in total outstanding U.S. student loan debt. "It's almost unethical," said Thomas P. Nerney, 59, chairman, president, and chief executive officer of U.S. Liability Insurance Group in Wayne. "We have all but mandated a college degree for the majority of entry-level positions," Nerney wrote in a recent opinion piece.
BUSINESS
August 26, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
President Obama complained last week about the rising cost of a college education and student debt. Isn't that kind of like the chief pirate complaining merchant ships are getting scarce? The price of anything that's privately built but heavily U.S. taxpayer-funded - weapons, medicine, colleges - tends to rise faster than stuff that trades more or less competitively, like tomatoes or scrap metal. Obama's response: By 2015, he wants U.S. taxpayers to subsidize schools, based not just on how much they charge, or whom they let in (the poorer the better)
BUSINESS
December 25, 2012 | By Erin E. Arvedlund, Inquirer Columnist
The biggest investment you, your kids, or your parents may ever make is paying for a college education. And that investment isn't offering a great return for any of us right now. One out of every nine students with college loans is now in default, according to new federal data. Could this mean student loans are going to be the next bubble, like the subprime mortgage and housing crisis? The Department of Education in September issued updated default rates, which stand at a stunning 9.1 percent of federal student loans, or roughly $90 billion worth.
NEWS
February 5, 2014 | By Susan Snyder, Inquirer Staff Writer
Beginning in the fall, Temple University will offer incoming students from lower-income families $4,000 annual grants to help cover the cost of tuition if they agree to limit their off-campus jobs to no more than 10 hours a week during school, President Neil D. Theobald announced Monday. The program, "Fly in 4," is designed to help students graduate within four years by reducing their need to work off campus. Currently, 43 percent of Temple students graduate within four years, according to the university.
NEWS
May 30, 2002 | By Lini S. Kadaba INQUIRER STAFF WRITER
Since the fall, Mr. Henry, as his students call him, has spent his days sharing his worldly wisdom about broadcasting at Delsea Regional High School in Franklinville, Gloucester County. But when the bell rings at day's end, Andrew Henry, 24, heads home, like his teenage charges, to his room with the twin bed in his parents' house. For now, Henry is choosing, without apologies, to live with his mother and father. Same goes for Erika Williams, 23, a dental assistant living at home in Wilmington.
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NEWS
June 6, 2015
ISSUE | SPECIAL ATHLETES Relay a message Despite advances that have been made over the years, men, women, and children with disabilities face negative stereotypes on a daily basis. This summer, Special Olympics and Bank of America are providing a once-in-a-lifetime opportunity for people to join the movement for equality. We're bringing the Unified Relay Across America to cities and towns throughout the country, including Philadelphia, where it continues Friday. The relay will give Philadelphians an unprecedented opportunity to show their commitment to inclusion and respect for all by simply getting involved.
REAL_ESTATE
May 11, 2015 | By Erin Arvedlund, Inquirer Staff Writer
Three siblings from the Lawncrest neighborhood of Northeast Philadelphia all bought their first homes in the last year - an anecdotal sign that the first-time buyer's market might be recovering since the financial crisis. Jillian, Bridget and Richard Slavin - all three of them millennials, born in 1983, 1985, and 1987, respectively - purchased houses that reflect the different styles and paths their generation is taking. Jillian Slavin bought a house in Lower Bucks County in May 2014.
ENTERTAINMENT
May 7, 2015 | By Anndee Hochman, For The Inquirer
He was the guy with the deep voice and the hideous blue plaid sports jacket; she was the woman with the large, empathetic eyes and easygoing manner. Lauren and Dennis were both 27, working for Beneficial Bank and living a freewheeling existence: Friday night happy hours, Saturday morning hangovers, their futures blissfully vague. "We both had severe cases of arrested development," Lauren says now. "We still felt so young. " They figured on living together in a few years and getting married sometime after that.
NEWS
April 13, 2015 | By Erin E. Arvedlund, Inquirer Columnist
Did you borrow for college and end up the victim of a sky-high-interest student loan? A new group, Debt Collective, says it's time to go on a "debt strike. " That is, stop paying. An outgrowth of Occupy Wall Street, Debt Collective is a year-old activist organization rallying financially strapped students of the now-defunct Corinthian Colleges. The strikers are mostly young adults, including some single parents, who borrowed from Corinthian's lending arm at up to 14 percent annually.
REAL_ESTATE
April 12, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
I have always called them "the pigeonholers" - the social scientists who spend their days fitting Americans into categories and coming up with names often as strange as the ones home builders apply to new subdivisions. Chases and meadows and glens, oh my. The generational appellation that has always left me laughing is the "Silent Generation," those born between 1925 and 1945. My father was born in 1925, and the one thing I would never accuse him of being was silent, especially when my sisters and I behaved in a manner he deemed inappropriate.
NEWS
January 8, 2015 | BY JOHN M. CRISP
Here's an idea that periodically develops traction across the political spectrum, even though it's not particularly likely to be implemented: A one-year, non-mandatory national-service program for Americans ages 18-28. One focus for this notion is the Franklin Project, which grew out of discussions at the Aspen Institute in the summer of 2013. The Project believes that America is "suffering from a deficit of citizenship and a general lack of connectedness. " Its solution is a program that provides opportunities for young people to perform one year of full-time service that addresses community needs - "education, poverty alleviation, food security" - in exchange for a modest stipend, scholarships or help with student debt.
NEWS
December 29, 2014 | By Erin E. Arvedlund, Inquirer Columnist
What's another name for student debt consolidator? A new low in scam artists . So here's how not to become a target of "debt relief" companies. Many 2014 college graduates are receiving their first loan bills. Student loans total $1.2 trillion nationally, and about seven million students have defaulted. You don't need to pay anyone to get help with, or to restructure, your federal student loans - period. (Private loans are another matter entirely). Do it yourself for free.
NEWS
October 29, 2014 | Michelle Singletary, Washington Post Writers Group
SOMEONE SAID to me that I make too big a deal of student-loan debt. Really? I heard similar comments before the housing crisis. We now know how that turned out. Next month, thousands of college graduates will see an end to their six-month loan grace period and will have to start making payments. Many will easily handle the payments. Others will struggle. When you look at the average debt that graduates have - just shy of $30,000 - the amount doesn't seem so daunting. But the average figure doesn't reflect the many people who are carrying much more than that.
NEWS
September 17, 2014 | Michelle Singletary, Washington Post Writers Group
WHEN PEOPLE talk about retirement, it's often in the context of how much money they have to save for their senior years. People know or have heard enough that they need to factor into their retirement plan their cash savings, investment account holdings, Social Security and, if fortunate, any pension benefit. But what's often not emphasized enough is the importance of your family balance sheet. I thought about this as I read a new report from the Government Accountability Office about the increase in the number of older Americans who drag student-loan debt into their senior years.
NEWS
September 1, 2014 | By Susan Snyder, Inquirer Staff Writer
Jonathan Jusino spent his first year out of high school as a stock clerk and sales associate at a clothing store, and found it unfulfilling. "I noticed there was no future for me in the work I was doing," he said. So Jusino enrolled at Community College of Philadelphia last fall as a first step in pursuing a teaching career. With his financial aid, it would have taken him three years to get his associate's degree. But a program introduced by the college this semester will allow him to finish in 21/2.
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