Student Loan Debt Keeping People from Retirement Savings - Student Tax OPtion

Student Loan Debt Keeping People from Retirement Savings

As student loan debt becomes more and more common among college graduates, a new study indicates conversations on the topic should include retirement savings too. Research from the TIAA-MIT Age Lab found that 84% of Americans with student debt report their repayment impacts their retirement savings. Many are not saving at all for retirement and more than a quarter of …

Are Student Loans the Next Mortgage Crisis - Student Tax OPtion

Could Student Loans Become the Next Mortgage Crisis?

The mortgage crisis of 2007-2008 was the result of an abundance of unstable loans, and a similar event could be brewing with regard to student loans. There are currently about 45 million borrowers who collectively owe $1.6 trillion in student loan debts, making it the second highest consumer debt category in America. Similarities between the student loan situation and the …

students find tuition bargains overseas - Student Tax OPtion

Students Find Tuition Breaks Overseas

As high school seniors look forward to graduation, their opportunities seem endless. And more often they are finding their higher education opportunities overseas. Instead of studying abroad for a portion of their studies, about 50,000 U.S. students chose to pursue their full degree in another country, as of November 2019. The Institute of International Education reports that a little more …

Loan Forgiveness Program Disappoints Many Student Borrowers - Student Tax OPtion

Loan Forgiveness Program Disappoints Many Student Borrowers

In 2007, Congress created a program for student loan forgiveness. The lawmakers hoped the program would bring more people to lower paying careers with a promise that after 10 years, if the students were able to pay their student loan debt and pursue the chosen career, the remaining balance of their student loans would be written off. However, many of …