The College Debt Crisis - Special Report
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Americans now owe more on their student loans than they do on their credit cards. With debt now growing at a rate of $2,853.88 per second, it will surpass $1 trillion in 2012. And neither taxpayers nor consumers can afford it.
Features
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College kids were enjoying pizza and beer, and paying for it all with a debit MasterCard. But this was not any debit card. The funds behind it come from student financial aid.
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The dramatic rise in student debt—and in student loan defaults—could leave the American taxpayer on the hook for hundreds of billions of dollars.
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Once the darlings of Wall Street, for-profit education companies have seen their market value plunge to the lowest level in 52 weeks, leaving investors to wonder if the industry would be able to survive in its current form. An index of nine for-profit education companies, the S&P 1500 Education Services Index is down nearly 30 percent for the year.
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Call it one of the dirty little secrets of the education industry: When students can’t pay their loans, many schools manage (some would say, manipulate) default rates so they look better than they really are.
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For-profit colleges may have unusually high student dropout and loan default rates, but their CEOS receive enormous compensation packages.
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The Education Department is trying to crack down on high dropout and default rates at for-profit colleges and universities..
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Schools offering a more career-oriented approach to higher education continue to enjoy double-digit growth, fueled by a sluggish economic recovery, accelerated stimulus spending and a more practical student mindset.
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That's the costs for four years at Sarah Lawrence College In New York State. Find out how it all adds up at America's most expensive institution of higher learning.
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From Oxford in England to Erasmus in The Netherlands, overseas universities are targeting US students with their lower tuition costs.
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Education Secretary Arne Duncan noted that millions of students do not take full advantage of federal student aid. But the vast majority of that aid consists of loans, and the nation’s student loan debt—and student loan defaults—are going rapidly.
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Taking simple steps to save and search for college funds may not cover the full freight, but it can at least make tuition and other expenses a little more affordable.
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You can promote yourself online and seek donations or donate parts of your body for hefty fees.
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Getting hired has been tough for graduates these last few years, but it looks like things are changing.
The Big Payoff, by Sharon Epperson
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There are as many ways of saving for higher education as there are majors at college. CNBC's Sharon Epperson offers a few of them in this excert from her book “The Big Payoff: 8 Steps Couples Can Take To Make The Most of Their Money – And Live Richly Ever After.”
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College costs shouldn’t be only the parents’ concern. Children can help out too, explains CNBC's Sharon Epperson in an excerpt from her book "The Big Payoff."
Slideshows
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Although salaries depend heavily on a graduate’s field of work, companies are willing to pay a premium for students hailing from the nation’s top universities.
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In the U.S., a college education is largely viewed as an essential step to success, but it comes at quite a cost. Here are the states with the highest student debt.
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As any parent knows, college can cost a small fortune.Here's the ten most expensive for the 2010-2011 acadmeic year, according to CollegeGrotto's annual list.
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CNBC.com looked at the 250 largest endowments in the U.S. and highlighted the 15 that suffered the most dramatic losses in market value. Some of the biggest losers may surprise you!
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Getting no where in your job search? You'll have a better chance of getting one at these 10 cities.
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Paying for an undergraduate education can be a costly endeavor and scholarships are in high demand. So, what are some of the most offbeat college scholarships out there? Find out!
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Check out the 8 fastest-growing, best-paying jobs, where hiring and pay are outpacing the rest of the employment market.
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