Monday, July 28, 2014
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CAP reports total student debt at $1 trillion

As student loan debt totals $1 trillion, according to a recent report, the government must increase its efforts to decrease the cost of higher education nationwide to prevent students from opting out of college, said Boston University economics professor Kevin Lang. “There are a number of things that can be done and seem to be […]

Pell Grants safe until 2015, report suggests

While government agencies tighten their budgets as the U.S. economy recovers from recession, the Federal Pell Grant’s foreseen shortfall in 2014 is now unlikely, and students will still receive government-subsidized financial aid, according to a report by the Congressional Budget Office Wednesday. Officials had anticipated $5.7 billion dollars in Pell Grant shortfalls by 2014, but […]

CFPB to survey financial products on campus

The Consumer Financial Protection Bureau launched a campaign Thursday to examine the effect financial products marketed through colleges and universities such as Boston University have on students, CFPB officials said. The CFPB will investigate the marketing strategies of financial products such as school-affiliated bank accounts — including those offered by Bank of America and Citizens […]

Youth unemployment up in January, study finds

Despite its reported increase in youth unemployment in January, the January 2013 Millennial Jobs report released by Generation Opportunity fails to take seasonal employment fluctuations into account, Boston University officials said. “Employment goes down in January because temporary employees begin to leave jobs. The same happens when students go on summer break and begin looking for […]

Student loan defaults increasing, study suggests

In light of a new study finding college students more likely than ever to default on their student loans, students must be aware of various repayment options and strategies to avoid default, Boston University officials said. The average size of student loan debt has increased 58 percent since 2005, while the average credit card loan […]