Department of Education shuts down for-profit Corinthian Colleges

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Federal regulations are designed to make sure that colleges that don’t offer a good value to students, don’t get student aid money.

Corinthian Colleges will put 85 of its U.S. campuses up for sale and close the remaining dozen under an agreement with the U.S. Department of Education. The for-profit college chain operates campuses under the names Heald, Everest and WyoTech. It has more than 70,000 students across North America. It’s the largest-ever college, by enrollment, to be shut down in this way.

 

 

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Congratulations class of 2014, the most indebted class in history

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The average loan-holding 2014 college graduate will have to pay back $33,000.

The class of 2014 deserves our congratulations, but not for graduating  — though that’s nice, too — but for earning one of the more dubious distinctions in recent memory: You’ve officially been named “the most indebted class ever.”

 

 

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The new $10,000 college degree has everyone talking

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Students leave college with an average $29,400 in loans.

The appeal of a $10,000 college degree is impossible to deny. Average tuition for a public university is more than $35,000 for four years. Students leave college with an average $29,400 in loans. Who wouldn’t get behind an effort to offer bachelor’s degrees that won’t shackle young people to debt for decades after they graduate?

 

 

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The high price of tuition-free college in Sweden

 Swedish college students still graduate with a ton of debt.

Colleges and universities in Sweden are free. But students there still end up with a lot of debt. The average at the beginning of 2013 was roughly 124,000 Swedish krona ($19,000). Sure, the average US student was carrying about 30% more, at $24,800.

 

 

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Only 150 of 3500 colleges in the U.S. are worth the investment

Student debt is second largest source of U.S. household debt, after only mortgages.

Some of the greatest colleges and universities in the world are in the U.S. But with the student debt load at more than $1 trillion and youth unemployment elevated, when assessing the value of a college education, that’s only one part of the story.

 

 

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The aristocracy on Wall Street got $1.2 trillion in secret loans

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Citigroup and Bank of America were the reigning champs of finance in 2006.

The reigning champions of finance in 2006 were Citigroup Inc. (C) and Bank of America Corp. (BAC).   As home prices peaked, they were leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

 

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Credit Card Issuers Increase Non-Penalty Service Fees as Card Holders Become More Frugal

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Consumers are charging less on their credit cards, paying down their balances and steering clear of penalty fees.

After the recession forced credit card companies to purge their rosters of the riskiest loans, the industry is facing a new problem: customers who are too good.

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Sam’s Club to Offer Small Business Loans to It’s Members

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Sam’s Club will offer loans to it’s small business members.

Wal-Mart’s Sam’s Club chain is partnering with a lender to offer loans of up to $25,000 to its small-business members.  The program is one of several moves the retail giant has made to offer banklike financial services to customers, in part to help them spend. It also comes as the retailer tries to improve profitability at its warehouse-club chain.

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Student Loan Debt Crisis: Who’s to Blame as Students Get Buried in Debt?

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Graduates struggle to afford the decades of payments they face.

Like many middle-class families, Cortney Munna and her mother began the college selection process with a grim determination. They would do whatever they could to get Cortney into the best possible college, and they maintained a blind faith that the investment would be worth it.

 

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