Archive for Student Debt
Fight Soaring College Costs
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I’ve talked a lot about soaring costs for many of our biggest needs and wants — energy, health care, food, and more.
But if you have kids or grandkids, you’re probably aware of another major expenditure that keeps going up no matter how weak the broad economy is: The price of a college education.
The College Board’s latest survey came out a couple weeks ago, showing that tuition and fees at private 4-year schools rose 4.4 percent in the current school year to $26,273.
Meanwhile, the price of a 4-year public university education spiked more than 6 percent for both in-state and out-of-state students ($7,020 and $18,548, respectively).
Lest you think this is a short-term trend, I’ve got some more numbers to share from The National Association of Independent Colleges and Universities, which surveys 350 private, nonprofit colleges and universities:
The group says the average increase in tuition was 4.3 percent in 2009, and it notes that this is the smallest increase since the 1972-1973 school year.
To read more articles by Nilus Mattive visit the Money and Markets Website.
- DCGW Team
Housing Sector Buying Treasury Bonds? More Lies?
Posted by: | CommentsHere is an excellent article by our friend Sean Brodrick from Uncommon Wisdom.
He is essentially telling us that the US government’s numbers on who is buying the bulk of US treasury bonds (i.e. American Debt) are lies:
The “housing sector” is supposed to be buying the debt that foreign governments are no longer buying from us.
Where are the average consumers getting the money to this?
Is Warren Buffet buying all the debt on behalf of the American people? (Not!)
We are being gamed.
The size of the game is unfathomable to the person on the street.
Just know that you are playing a game that has been rigged, and you will live a happy healthy life while the world falls down around you.
The Deb Collectors Gone Wild Team
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Judge Wipes Out Couples Debt After Banks Behavior
Posted by: | CommentsIn an unusual legal decision that may cheer ordinary homeowners but dismay lenders, Judge Jeffrey Spinner took a tough line on a California-based bank that he considered had been determined to foreclose on the couple’s home in Suffolk County, Long Island.
His ruling against OneWest and its IndyMac mortgage division has relieved Greg Horoski and his wife, Diane Yano-Horoski, of the $291,000 they owed on the original loan as well as $235,000 in interest.
OneWest took $814 million in federal bailout money but has a reputation for foreclosing quickly on property owners who falls into arrears.
The Horoskis bought their house 15 years ago but they refinanced in 2004, taking a sub-prime loan from Deutsche Bank.
The interest rate soared to more than 12 per cent and the bank sued the couple in 2005, when Mr Horoski and his wife began having trouble making payments because of his health problems.
A foreclosure on the 3,400 sq ft bungalow was approved but the couple applied successfully for it to be settled in court.
The judge attacked the bank for repeatedly refusing to work out a deal, for misleading him about the sums in the case and for its treatment of the couple.
He wrote that OneWest’s conduct was “inequitable, unconscionable, vexatious and opprobrious”, cancelling the debt to deter it from “imposing further mortifying abuse” against the couple.
OneWest, which is owned by a private equity group, said it expected to overturn the “unprecedented” ruling on appeal.
Mr Horoski, a porcelain doll seller, told the New York Post : “I think the judge felt it was almost a personal vendetta. It was like dealing with organised crime.”
Debt Collectors Gone Wild!
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