How one wealthy couple successfully triumphed over debt: "They sold two of their homes and four of their cars. They ate at home more frequently. They canceled their cable television and cellphone plans. And they saved $1.7 million for retirement." If they can do it, anyone can.
"Student debt is growing faster for seniors than for any other age group," and the government is garnishing more Social Security checks as a result. Enjoy your retirement.
Law Firms Are Some of the Dirtiest Debt Collectors
When most people think of shady, predatory "debt collectors," they probably imagine a dingy, smoke-filled boiler room with workers haranguing hapless victims on the phone. In fact, there are law firms that are every bit as perfidious.
Good and Bad News on How Much You're Paying for College
College these days is expensive as hell. ($57K for "Pitzer?" Is that even accredited?) Everyone is drowning in student debt. But! There is good news on the college cost front. Also, there is bad news.
George Soros Is Waiting for You to Go Bust
George Soros, one of history's most successful investors, has wagered $1.3 billion that the U.S. stock market is going to crash soon. The average American is wagering the opposite.
The good news: underwater homeowners are getting $1.5 billion in debt relief. The bad news: the government is taxing that money as income. "Happy debt relief. Here's some more debt."
How hard is it for a broke woman taking care of bedridden husband with cancer to discharge student loans in bankruptcy? Hard. "Educational Credit said Ms. Schaffer was spending too much on food by dining out... that was a reference to the $12 she spent at McDonald's."
Average Student Debt Is Close to $30K
Student debt in America has been a runaway train to hell for some time now. No wonder young people are so terrified of it. It's getting worse.
Time to Bring Bankruptcy Back for Student Loan Debt
Thanks to some misguided moral philosophy and some excellent lobbying work, it is now almost impossible to discharge your student loans in bankruptcy. They haunt you forever, like the souls of those you've killed. As our national student loan debt balloons further into crisis territory, it become ever clearer that we…
College Grads Are Too Broke to Become Good Little Entrepreneurs
Besides forcing young college graduates into a decades-long penurious existence as veritable indentured servants to institutions of higher learning, there's another downside to our nation's $1 trillion student debt: it's stopping young people from starting business. Businesses! The lifeblood of Republicanism!
How Doomed Is the U.S. Postal Service?
Those who enjoy slow-motion disasters have spent years watching the travails of the gallant United States Postal Service, which is kind of like FedEx if it was run by the Three Stooges. Just how existentially challenged is our nation's mail service?
DC Has America's Highest Concentration of Student Loans
The latest Fed report on student loan debt includes some neat-o maps showing how all of America's student debt is distributed geographically. Washington DC sure is smart, and broke!
Barack Obama wants to help repay your student loans. Thx bro.
A Sloppy Excel Error Might Have Messed Up the Way We Think About GDP
A new study reveals that one of the most cited economic principles regarding GDP and debt is most likely based on a "sloppy Excel coding error." According to a 2009 book by Carmen Reinhart and Kenneth Rogoff, This Time It's Different, countries with a high debt to GDP ratio have slow economic growth. But three…