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If you have student loan debt, you might also need life insurance

If you have student loan debt, you might also need life insurance

Finance
Taking out a life insurance policy as a new college graduate may not be top of mind, but it's worth exploring if you have student loans. Some of that debt can live on, even if you die."That's not something that college-age students and their parents tend to think about," said Betsy Mayotte, director of consumer outreach and compliance for American Student Assistance, a nonprofit focused on higher education financing.Four in 10 student borrowers now owe at least $ 20,000 at graduation, double the share from a decade ago, according to a new report from the Consumer Financial Protection Bureau. Over the same period, the number of those owing at least $ 50,000 has more than tripled, from 5 percent to 16 percent of borrowers.If a relative or friend has co-signed on a student loan for you, and y...
Percentage of college graduates owing $20,000 in student loan debt doubles in 10 years

Percentage of college graduates owing $20,000 in student loan debt doubles in 10 years

Finance
As college costs rise and incomes fail to keep pace, the problem of student loan debt has become exponentially worse.Now, nearly half of student loan borrowers owe at least $ 20,000 when they graduate, double the share a decade ago, according to a recent report by the Consumer Financial Protection Bureau. Meanwhile, the percentage of borrowers who owe $ 50,000 or more has tripled over the same time period.More from College Game Plan:The first steps to repaying your student debtThree ways to avoid the financial death spiral of defaulting on your student loansThis student debt strategy can save you more than $ 18,600Fewer are also paying down their debt within five years, the report said."People are taking on more student debt later in life, and having a tougher time paying it back," CFPB di...
Yes, student debt is delaying homeownership

Yes, student debt is delaying homeownership

Finance
How to talk to your kid about paying for collegeCollege grads have claimed for years that they were putting off buying a home because of student debt. Now, there's strong proof that their loans really have pulled down homeownership rates. About 32% of those in their 20s owned a home in 2007, but that's fallen drastically to 21% in 2016. While the poor labor market and memories of the housing bubble certainly played a role, student debt can explain up to 35% of the decline, according to a report from the Federal Reserve Bank of New York released Thursday. If it sounds small, think of it this way: about half of Americans don't go to college and some of those who do aren't dragged down by student debt. The results suggest that the rise in college costs will result in "weaker spending and w...
US student held by North Korea dies after release

US student held by North Korea dies after release

World
Otto Warmbier, the US student freed from a North Korean jail and in a coma for more than a year, has died. His parents said in a statement: "It is our sad duty to report that our son, Otto Warmbier, has completed his journey home."Surrounded by his loving family, Otto died today at 2:20 p.m."US President Donald Trump said on hearing the news that "bad things" happened in "brutal" North Korea but at least he died at home with his parents.Doctors from the University of Cincinnati Medical Centre said last week that the 22-year-old was suffering from injuries related to cardiopulmonary arrest and was in a state of unresponsive wakefulness.Image:Mr Warmbier broke down as he was jailed in March 2016The University of Virginia student was medically evacuated from North Korea and flown to Cincinnat...