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From investing to debt to budgeting, 19 financial mistakes millennials should avoid

USA Today – Staff Writer

“The money moves you make when you’re young are going to set the stage for future financial success — or make it harder for you to achieve your dreams. While focusing on financial responsibility may not seem like much fun, young people have the benefit of time and a clean slate when it comes to money matters. If you make good choices from the start, you can make the magic of compound interest work for you and set yourself on the path to success. But, it’s important to avoid mistakes that could cost you.” (more)

How U.S. Education Has Become ‘A Debt Sentence’ [Infographic]

Forbes – Niall McCarthy

“America’s student loan crisis still isn’t showing any signs of improvement and according to the National Association of Realtors, 45 million people are carrying student debt with a fifth of them owing $100,000 or more. That’s having an impact on home ownership and the realtors also say that 83 percent of people aged 22 to 35 who haven’t bought a house blame their student debt levels.” (more)

More student borrowers may be eligible to cancel federal student loans than have applied for relief

Ed Source – Solomon Moore

“The large number of California students who attended for-profit colleges at the time of their closure suggests many more may be eligible for student loan debt relief than have applied under the federal government’s current policy, an EdSource analysis shows. The process for student borrowers to cancel their federal education loan debts was created amid a series of lawsuits against Corinthian Colleges Inc. that forced the California-based for-profit college chain into bankruptcy and closure in 2015.” (more)

Piggybacking on good credit: Things to consider before co-signing a student loan

USA Today – Carmen Reinicke

“You’ve watched your children or relatives celebrate college graduation, move to new cities and start first jobs. You might be settling into life with an empty nest, or simply enjoying one less person in the house. That is, until your child brings up student loan refinancing and asks if you will help by co-signing.” (more)

Incremental Steps Toward Bold Student Loan Reforms

Education Next – Sandy Baum and Matthew M. Chingos

“The options available to former students repaying their federal student loans have improved over the past decade. Instead of making equal payments every month for 10 years, 31 percent of borrowers are now in plans that set payments at an affordable share of their incomes and forgive remaining balances after 20 or 25 years. But the system of multiple plans is too complicated and difficult to navigate, default rates remain stubbornly high, and the latest estimates project significant long-term costs to taxpayers.” (more)

The Looming Student Loan Crisis Is Worse Than We Thought

Education Next – Judith Scott-Clayton

“This report analyzes new data on student debt and repayment, released by the U.S. Department of Education in October 2017. Previously available data have been limited to borrowers only, follow students for a relatively short period (3-5 years) after entering repayment, and had only limited information on student characteristics and experiences. The new data allow for the most comprehensive assessment to date of student debt and default from the moment students first enter college, to when they are repaying loans up to 20 years later, for two cohorts of first-time entrants (in 1995-96 and 2003-04).” (more)