Student Debt Continues to Rise
April 13, 2011 by Marcy Einhorn, Esq.
The New York Times reports that in 2008, two-thirds of bachelor’s degree recipients graduated with student debt, compared to less than one-half the graduates in 1993, fifteen years ago.
Students are now leaving college with an average of $24,000 in debt.
And with governments at every level slashing budgets, we can expect these debt figures to rise. As students lose out on federal tuition grants and state university tuitions go up, options for paying for college will continue to shrink, leaving...
[Read The Full Article]
Credit CARD Act Requires Notices
April 1, 2011 by Marcy Einhorn, Esq.
About a year ago, every consumer credit card statement started to include a “minimum payment warning.” This warning tells you how many years it will take to pay off your current balance if you make no further purchases and only pay the minimum payment. The warning also tells you the estimated total amount you will have paid at that time, and gives you a simple comparison, showing you how an increased payment will reduce the amount of time it will take to pay off the balance as well...
[Read The Full Article]