In the wake of multiple teacher strikes that have prompted national attention towards educators’ salaries and education spending, the U.S. Census Bureau just released its updated Annual Survey of School System Finances covering Fiscal Year 2016. According to the report, total current spending of public elementary-secondary school systems for the U.S. in 2016 was $587 billion, a 3.3% increase from 2015. With over 48 million students enrolled in school in the U.S., the per pupil current spending nationwide is $11,762, an increase of 3.2% since 2015.
Summer is right around the corner, and many college students who see graduation looming on the horizon use the break from school as a time to take an internship in their field. While internships offer valuable “real world” experience and have seemed to become almost mandatory in many fields, internships often provide very little pay, or in some cases no pay at all. How do you answer the question, then, if the benefits of taking an internship are worth the cost?
As of the fourth quarter of 2017, total student loan debt in the U.S. hit a record high of $1.38 trillion, up 152% over the past 10 years. For reference, total household debt only grew 6% over that same time period, according to data from The New York Fed. Outside of mortgages, student loans are now the largest source of household debt for Americans, greater than auto loans ($1.22 trillion) or credit cards ($834 billion).
If you’ve heard horror stories about wage garnishment, you may believe it only happens to “deadbeat parents” or those that owe thousands of dollars in back taxes. In reality, however, wage garnishment can occur for many reasons, so it’s important to understand exactly what it is, and which unpaid debts can leave you subject to wage garnishment. Read More
When we think about the $1.45 trillion student loan crisis, we normally imagine struggling, young, recent college graduates. We often don’t think about the collateral damage among families that overwhelming school debt can inflict, but that’s a fast-growing problem. Almost all private student loans require a co-signer, and increasingly, the parents and grandparents tied to these debts are running into trouble — lower credit scores, higher borrowing costs, and threatened retirement are just a few of the consequences. Read More