The Suze Orman Show Suze Says

  Friday, 9 Aug 2013 | 7:02 PM ET

Thinking of co-signing a college loan? Think again

On Friday, President Barack Obama signed the student loan interest rate compromise into law, reducing the federal student loan rate from 6.8 percent to 3.86 percent, but that doesn't mean it's a good time for parents to co-sign their children's loans.

More than 43 percent of student loans are in deferment, according to a TransUnion study. Making matters worse, the rate of unemployment and underemployment for college graduates is at its highest level in 11 years, so deferments and delinquencies are not likely to go down anytime soon.

(Read more: Half of new grads are jobless or underemployed)

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  Wednesday, 7 Aug 2013 | 4:26 PM ET

Orman: Don't put your retirement on a credit card

Suze Orman

As the economy slowly recovers, Americans are struggling to get out of credit card debt they amassed during tougher financial days.

The good news: the majority of people are paying their credit card bills on time. Recent data from the American Bankers Association shows that less than 2.5 percent of credit card accounts were 30 days late in the first quarter of 2013.

The bad news: they're amassing more debt. Outstanding credit card balances in the U.S. rose to $856 billion according to a study by the Federal Reserve Board.

Out of desperation to stay current, or to rid themselves of their debt, people are looking at their retirement accounts as a cash source. But Suze Orman says that's the biggest mistake you could make.


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