Finance & Economy

Increases on federal loan interest rates take effect Tuesday

Effective Tuesday, college students taking out loans for the 2014-2015 school year will see an interest rate increase for federal Stafford loans, PLUS loans and some graduate loans. The interest on an undergraduate Stafford loan will be raised from 3.66 percent to 4.66 percent. The graduate loans affected will now have 6.21 percent interest rates, up from last year’s 5.41 […]

Mass. economy grows due to increased employment

An economic report released Thursday by MassBenchmarks, an economic journal at the University of Massachusetts Donahue Institute, shows the Commonwealth’s economy has expanded significantly due to employment growth, rising incomes and increased consumer spending. The gross state product grew by approximately 5.5 percent in the last quarter of last year according to the report. MassBenchmarks compiles this information through a series of […]

U.S. economy to catch up to Mass., report suggests

Massachusetts has recovered from the recession of 2008 at a faster rate compared to the rest of the country, but that advantage will soon disappear, a Wednesday report from the New England Economic Partnership suggests. The Commonwealth does not rely heavily on manufacturing sectors and other industries directly related to the recession. However, overall growth in the economy and a dip in […]

Low unemployment rate, still economic division in jobs, study suggests

The national unemployment rate is at its lowest point since 2008, but the job market in Massachusetts has become severely polarized, according to a report published Monday by the Center for Labor Market Studies at Northeastern University. The report showed job creation in the Commonwealth is slower than it has been in years, with the wealthier and better educated consistently receiving available […]

Federal reports show conflicting data on Mass. economy

The monthly Current Population Survey from the U.S. Department of Labor released Friday showed unemployment is steadily increasing. Conversely, the Federal Reserve District’s beige book released on Sept. 4 said the Northeast has shown economic growth in almost all sectors. “The number of new jobs is a lot less than what people were hoping for,” said Johannes Schmieder, assistant professor of economics […]

Obama’s proposed federal budget slightly increases financial aid

Changes contained in U.S. President Barack Obama’s  proposed 2014 fiscal year budget released April 10 could have a wide range of effects on students at colleges such as Boston University, particularly due to the way the budget addresses financial aid and student loan interest rates, officials said. Bart Lipman, an economics professor at BU, said it is important for Congress […]

New delayed-start loan repayment plan may help grads.

Financial service provider Sallie Mae is introducing a student loan repayment plan that allows students of good standing at colleges such as Boston University to push back their loans an additional year following the normal six-month grace period after graduation, officials said. Randall Ellis, a BU economics professor, said while loan flexibility already exists for students, the new plan could […]

SMG to host revamped tech. competition

SMG to host revamped tech. competition

Reimagined from the former International Technology Strategy Case Competition, 2013’s Grand Business Challenge in Digital Health hosted by Boston University School of Management beginning Thursday will change the way the world sees technology and healthcare integration, BU officials said. With sponsorship switching from Ericsson telecommunication to the Merck healthcare company, the competition has become more focused on utilizing technology to […]

Moody’s finds gap between college savings and cost

College students have less money saved and are taking out more private student loans as a result, according to a study released Tuesday by Moody’s Investor Service. David Jacobson, a spokesman for Moody’s, said students across the country are statistically saving less before school. “There’s a gap between family’s savings and the cost of a four-year degree,” Jacobson said. “Colleges […]

College students struggle with financial literacy, study suggests

College students slammed with credit card debt must learn how to properly deal with their finances before debts and poor financial habits begin affecting their futures, according to a study released Wednesday. “The banks recognize that there is a freshman clientele on campus,” said Daryl Graves, a College of Arts and Sciences undergraduate academic administrator. “Basically they’re encouraging kids to […]