The latest news on this change — carefully culled from the world wide web by our change agents. They do the surfing, so you don't have to!
Not-So-Nice to Meet Ya, Sallie Mae
Many homeowners are feeling a little squeeze (more like an ever-tightening vise) on their finances lately, but what about the kids who used to fill the empty nest before scurrying off to college? Recent graduates are staring down higher interest rates on their loans during this volatile market. Coupled with finding a job and adjusting to post-grad life, many are left yearning for life back inside their hallowed college halls. How about throwing a little bailout bone their way, Mr. Government Officials?
The average college graduate owes $20,000 in loans, a number that can double or triple for those who stayed an extra year or attended private schools. An extension of the tuition tax deduction was approved last week with the huge bill (I didn't know calculators could compute that high!) but Kim Clark of U.S. News & World Report asks why there isn’t more help for those who will have to live with this economy in the future.
Our advice on saving for college preemptively helps you avoid the burden, or at least lessen its load. For those already in debt, do you think it’s fair for post-college kids, er, adults to flounder on their own in the deep end? If you’re paying back your loans, is there an end in sight? [U.S. News]