Articles Tagged with ''student debt''

From HW Magazine

Outside the classroom

Teaching Millennials that student loan debt doesn't have to delay the American Dream
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.
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LendingTree acquires Student Loan Hero

LendingTree plans to increase its presence in the student loan space
LendingTree closed on the acquisition of Student Loan Hero, a personal finance website that helps borrowers manage their student debt. Student Loan Hero is led by CEO Andrew Josuweit, who founded the company in 2012 to help manage the nation’s immense student debt burden.
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Fifth Third Bank app combats student debt

Customers paid off $1 million in student debt by rounding up debit card purchases
The weight of student debt can often be paralyzing, however, an app launched by Fifth Third Bank has reportedly freed up $1 million worth of loan debt for its customers. The Fifth Third Momentum is available to any Fifth Third debit card user and can be used with more than 30 major student-loan servicers, both public and private.
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Want to save up for a home? Say goodbye to 54% of your income for 6 years

It will take the average renter 6 years saving 20% of their income to afford a 20% down payment
According to research from Zillow affiliate Hot Pads, it will take the average U.S. renter more than six years to save up for a 20% down payment on a home. With rent now taking up an average of 34% of a renter's income and home prices on the rise, the dream of homeownership is becoming more and more distant for U.S. renters.
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Here are 5 reasons the Millennial homeownership rate is low

Urban Institute breaks down the data
For years, several factors have been tossed around such as high home prices, fear over the last housing crisis, delays in family formation and even student loans as reasons why the younger generation is holding out. But now, the Urban Institute released a study that shows the actual data behind these factors, revealing what is really holding Millennials back from homeownership.
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Monday Morning Cup of Coffee: Ben Carson backtracks on plan to raise rents for poor

Plus what to expect in world economy’s most important week
HUD released a plan in April that HUD Secretary Ben Carson says will push millions of low-income households toward self-sufficiency. Now, he could be pulling back from that proposed plan. Also, here’s everything you need to know about the most important week of the year for the world economy.
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Student debt crisis deepens as Gen Z enters college

Nearly 40% unsure if they can pay back debt
As the oldest members of Generation Z turn 23 this year, they are now fully into or even past their college years, but the bad news is the student debt crisis is only continuing to worsen. A new study from LendEDU found Gen Z may be less than prepared to deal with their debt after graduation.
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First time homebuyers fall to 4th lowest share since 1981

Student debt amounts continue to increase
Low inventory levels are keeping the younger generation from buying a home however, unsurprisingly, student loan debt also continues to play a major role in keeping first time homebuyers out of the housing market. What is shocking is the increase in student debt compared to other industries. But lenders, take note, first time buyers are increasingly considering lower down-payment options in order to buy a home.
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Lennar targets Millennials with mortgage that pays off their student loans

Lennar subsidiary Eagle Home Mortgage offers unique lending product
A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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CFPB forces companies to pay $21.6 million for illegal student loan debt collection

Requires audit of 800,000 student loan portfolios
Studies show student debt continues to be a major hindrance to homeownership in the U.S., however the latest action from the Consumer Financial Protection Bureau shows that debt may not even always be real. The CFPB announced Monday it forced a student loan trust and its debt collector to pay a total of $21.6 million for illegal student loan debt collection practices.
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