Western Union Payments Money Mindset Index survey finds 10% of Gen Y members owe $30,000 or more.
All student loan borrowers are out to get an education, but for those who belong to credit unions, a different kind of schooling might be in store. Some credit unions say they’re placing an emphasis on educating their student loan recipients about the borrowing process, from application submission through repayment.
Another top finding of the survey was 90% of respondents said they should be contacted the way they like the most.
Lending giants U.S. Bank and JPMorgan Chase recently announced they had eliminated and reduced their private student lending programs, respectively. JPMorgan Chase will only make private student loans for existing customers.
University of Wisconsin Credit Union is introducing a new program that will teach student loan borrowers all about loan repayment post-graduation.
Student loans are poised to become the next big consumer debt debacle. Total outstanding student loan debt is expected to top $1 trillion this year, more than double the amount owed just five years ago. That would push it well above the amount of credit card debt outstanding, which totaled...
More than 50,000 people have signed a petition on the online advocacy platform Change.org calling for education financier Sallie Mae to stop charging fees for late student loan payments, Change.org announced.