One company is refinancing student loans

This week’s Debt Report

Student loans: Round-the-clock coverage

If you had any doubt that the nation’s $1.2 trillion in student loan debt is the hot debt topic in the mainstream media, check out this week’s big headlines…

MONDAY: CNN reports, Investors help the rich pay off student loans. Seems a firm called Social Science is refinancing student loans. “But not just any loans, CNN says. “The kind of schools that are most represented in the program are selective colleges like Harvard, New York University, and Northwestern. Their alumni provide the money — the students must also have a job lined up after graduation.”

TUESDAY: The New York Daily News looks west and explains why California couple spends retirement funds paying off deceased daughter’s $200,000 student debt. This story has it all: When a pretty 27-year-old nursing student dies suddenly from liver failure, her parents take in her three children but still have to pay off her private student loan — which they can’t afford on his pastor’s salary.

WEDNESDAY: Forbes gathers convincing evidence to prove How Today’s Student Loan Debt Is Failing Future Generations. Just one example: “For the first time in at least a decade, 30-year-olds with no history of student loans were more likely to invest in houses than 30-year-olds with a history of student loans.”

THURSDAY: The Christian Science Monitor gets political and reveals Why Democrats are campaigning on your student loan debt. The answer is, “In congressional races across the country, Democrats hope promises of student loan relief will win voters and help them weather difficult prospects in November’s elections.”

If there’s any conclusion to draw here, it’s that student loan debt will become a hot topic not just for November’s mid-terms elections, but the 2016 presidential race, too. Whenever the media sheds this much light on a topic, politicians feel the heat.

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Banking: About to get better?

When you think of the words “customer service,” the words “my bank” probably aren’t the first to roll off your lips. But in a few years, they might be. Banks suddenly care about customer service, says a survey released Monday by a consulting firm called KPMG. Why? Because of competition from places that aren’t banks. More Americans are using online banks, prepaid cards, or even keeping cash in their homes.

“In order to compete and succeed, banks need to become more advanced and agile to effectively meet customer expectations,” KPMG’s Brian Stephens says. This survey of 100 bank executives shows they’re fully aware of that.

Entertainment: Driving down movie prices

Travel website TripAdvisor studied its own reviews and listed America’s Top Drive-In Movie Theaters on Wednesday. Most interesting to wasn’t the age of these theaters (one in Wisconsin opened in 1950) or their unique snack bars (one in Georgia sells deep-fried Oreos). It was the prices. Most charge $7 to $9 for adults and as little as $2 for children — for double features.

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