Topic: Consumer Credit and Debt

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After graduation: Five real-world steps to success

With graduation day around the corner, Modern Parenthood caught up with Cindy Brown, author of the book “The Girls Guide to Swagger,” to ask her what her top tips would be for new graduates going off into the “real world.”
Student loans and college finance: Take our quiz!

Rising college costs have pushed America's student loan debt over the $1 trillion mark for the first time. Here's a quiz designed to test your knowledge on college finance ... and expand it.
Tax day: 8 top tax breaks for parents on tax deadline

As tax deadline looms, parents are looking for as many tax breaks as possible.
10 best cities to buy short sale homes

Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?
Five shifts among college freshmen: For one, they're more studious

A survey of college freshmen reports an uptick in study time and a bit less partying. Here's a look at ways first-time freshmen depart from previous freshman classes.

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GOP outlines two ways to keep rates low on student loans; Democrats see 'ruse'

On a day that Speaker Boehner reportedly called the student loan fight 'phony,' the Republican leaders outlined two ways to fund the subsidized student loan rates they say draw on Obama's own budget proposals.
Paper Economy
Mortgage rates tumble to record lows. Again.

The average rate for a 30-year fixed rate mortgage declined 2 basis points to 3.81 percent  since last week, the lowest value on on record for this MBA series, while the purchase application volume declined 0.6 percent, and the refinance application declined 1.5 percent over the same period.
The Simple Dollar
Graduation gifts: Consider the investment route

Graduation gifts like savings bonds and mutual funds can be good alternatives to cash. Graduation gifts are question one in this week's mailbag.
Saving Money
10 money mistakes everybody makes

How many of these common money mistakes have you made?
The Daily Reckoning
Facebook IPO: The end of an era

The failure of Facebook's public debut may signal the end of the pie-in-the-sky tech start up, as well as the possibility that the post-crisis recovery rally is screeching to a halt.
What Congress has planned after Memorial Day

Congress will be racing to complete a number of priorities between Memorial Day and the August recess, all under the shadow of massive fiscal issues looming at year's end.
Change Agent
First Graduate helps students aim for higher education

The nonprofit First Graduate program helps students become the first in their family to attend college.
Decoder Wire
Psst, students. Still hope for low-rate student loans, despite Senate balking

Without a fix, interest on some subsidized federal student loans would double to 6.8 percent starting July 1. But Thursday's Senate votes are still just theater. Expect parties to haggle over the cash until June 29.
After graduation: Five real-world steps to success

With graduation day around the corner, Modern Parenthood caught up with Cindy Brown, author of the book “The Girls Guide to Swagger,” to ask her what her top tips would be for new graduates going off into the “real world.”
Mitt Romney unveils education reform plan heavy on 'parental choice' (+video)

Mitt Romney's plan for education reform challenges President Obama and teacher's unions, including federal money for some low-income and disabled students to attend private schools.
Paper Economy
Mortgage rates slide to record lows

Mortgage rates continue to drop well below 4 percent. The average rate for a 30 year fixed rate mortgage declined 2 basis points to 3.83 percent since last week, the lowest value on on record for this MBA series. The purchase application volume declined 3.0 percent and the refinance application increased 5.6 percent over the same period.
The Simple Dollar
Student loans: Pay them off, or invest elsewhere?

Student loans at currently low interest rates should be paid off as quickly as possible, because there aren't many better investments out there. Student loans are question one in this week's mailbag.
Paper Economy
Fannie Mae: delinquent loans dropping

Total serious single family delinquency declined slightly in March, but remained at distressed levels.
Donald Marron
How to fix flawed Medicare budgeting

Budgeting for Medicare's hospital insurance program is flawed. Here are two ways to fix it (and one way not to).
How Greek economic woes could help US consumers

Fears that Greece may default on its debt are spurring interest in US Treasury bonds, driving down interest rates on mortgages and auto loans – but not (alas) for credit card debt.
The Simple Dollar
Student loans: How automatic repay can help

Signing up for automatic payments on student loans can reduce the chances of messing up something important for young people who are relatively inexperienced with managing their finances. What's more, it can actually reduce the amount you have to pay back on student loans over the long haul. 
The Simple Dollar
401(k) savings: Huge plus, even when retiring at 45

401(k) savings defer taxes and can fund second retirement phase for high earner who wants to retire at 45. See question No. 2 in the reader mailbag for 401(k) discussion. 
Democrats try to put Scott Brown on defensive with new ethics charge

The Massachusetts race for the Senate seat held by Scott Brown is gathering in intensity, with Brown and Democrats supporting challenger Elizabeth Warren trading ethics charges.
Paper Economy
Mortgage rates inch down to 3.91 percent

The average rate for a 30 year fixed rate mortgage declined 1 basis point to 3.91 percent since last week while the purchase application volume increased 3.4 percent and the refinance application increased 1.3 percent over the same period.
Student loans: GOP filibuster blocks Senate move to freeze low rates

Student loans will cost more come July 1 unless Congress acts. While both parties say they support extending low rates on federally subsidized loans, election-year politics have intervened.
The Simple Dollar
Know your credit report, and what it means

Forget those goofy commercials. You can get your credit report (really) for free from the federal government. When you get it, it’s important to make sure that the information on your credit report is accurate and represents a good picture of your financial history.
The Simple Dollar
Freedom from debt is possible – with a plan

Constructing a debt repayment plan is the single strongest step to take to achieve freedom from debt, according to Hamm. 
Student loans: Do Republicans really think program is socialist?

President Obama said Friday that Republicans in Congress are calling federal student loans socialism. Republicans reject the charge. But the issue is highlighting political differences.
The Daily Reckoning
The dollar is in decline. So how to invest it?

The Federal Reserve's role should be to protect the value of the dollar.  But the dollar has been in decline for most of the last century.
Paper Economy
Mortgage rates stay under four percent

The average rate for a 30 year fixed rate mortgage  went unchanged at 3.92 percent since last week, while the purchase application volume increased 2.9 percent and the refinance application declined 0.7 percent over the same period.