College tuition increases about 5% to 8% a year. And most students are now just beginning to get their financial aid packages.
Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8% the week prior, according to a report from a financial data aggregator released Thursday.
Colleges aren't getting any cheaper, but federal student loans are.
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part.
Today the government will begin offering a repayment plan that lets graduates reduce their monthly student loan payments based on their income. It's called the income based repayment plan and it's available to borrowers who took out federal loans or used a federal consolidation loan to combine their debt.
Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed Wednesday.
One of the great headaches of the American dream is about to get less painful.
As a graduate from Syracuse University with a master's degree in international relations, Jana Morgan was hoping to help victims of human rights violations caused by resource wars.
Sales in the decimated housing market may finally be bottoming, but don't expect home prices to stop dropping before mid-2010 at the earliest, analysts and economists say.
Home mortgage rates sank sharply last week, retreating from a recent run-up that peaked the previous week. The 30-year fixed slipped to 5.76% from 5.95%, according to a report released Thursday.
College tuition increases about 5% to 8% a year. And most students are now just beginning to get their financial aid packages.
Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8% the week prior, according to a report from a financial data aggregator released Thursday.
Colleges aren't getting any cheaper, but federal student loans are.
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part.
Today the government will begin offering a repayment plan that lets graduates reduce their monthly student loan payments based on their income. It's called the income based repayment plan and it's available to borrowers who took out federal loans or used a federal consolidation loan to combine their debt.
Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed Wednesday.
One of the great headaches of the American dream is about to get less painful.
As a graduate from Syracuse University with a master's degree in international relations, Jana Morgan was hoping to help victims of human rights violations caused by resource wars.
Sales in the decimated housing market may finally be bottoming, but don't expect home prices to stop dropping before mid-2010 at the earliest, analysts and economists say.
Home mortgage rates sank sharply last week, retreating from a recent run-up that peaked the previous week. The 30-year fixed slipped to 5.76% from 5.95%, according to a report released Thursday.
Americans saw $1.3 trillion of wealth vaporize in the first quarter of 2009, as the stock market and home values continued to decline, according to a government report released Thursday.
Home mortgage rates jumped in the most recent week, pulled higher by skyrocketing Treasury yields.
A spike in U.S. mortgage rates drove down total home loan applications last week as demand for refinancing shriveled to the lowest level since November, the Mortgage Bankers Association said on Wednesday.
When the stock market goes up these days, your 401(k) isn't the only thing that will follow. So, too, does the volume of Google searches for economic terms.
Home mortgage rates jumped in the most recent week, with the average 30-year fixed rate rising to 5.65%, according to a report released Thursday.
The refinancing tide has ebbed, but mortgage profits for the nation's biggest banks are in no danger of drying up.
Introduction: Use this CNN Student News financial glossary to help students understand concepts about today's U.S. economy that are currently in the news.
Mortgage rates burst past the 5% mark for a 30-year fixed-rate loan late in May, peaking at an average of 5.45% on Thursday. It was the highest level reached by mortgage rates this year, but on Friday they fell back to 5.27%.
Government debt prices rose Thursday after the benchmark 10-year yield had hovered at a 6-month high earlier in the session, at the last of three major auctions scheduled for the week.
You're not alone. Credit card companies are tightening their underwriting standards as they try to pare down their debt. Here is some advice on how to cope if you've been denied credit.
Home mortgage rates jumped in the most recent week, pulled higher by rising Treasury yields, according to a report released Thursday.
Despite all the hand-wringing and attempts to contain the foreclosure plague, the problem still spread during the first three months of 2009, as the number of foreclosure actions started hit a record high, according to a quarterly report.
House prices are taking a long ride in the wayback machine. Unfortunately, Americans' housing-related debt isn't going anywhere fast.
Nearly 270,000 troubled homeowners were issued mortgage workouts in April, according to a industry report released Wednesday. That was up from about 250,000 in March.
Home mortgage rates were mixed this week, with the average 30-year ticking higher, according to a report released Thursday.
One of the biggest disappointments of the foreclosure prevention fight has been HOPE for Homeowners, a plan Congress passed in an attempt to help as many as 400,000 underwater, delinquent borrowers from going into foreclosure.
Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing "critical" financial problems, federal regulators said Monday.
More than 55,000 troubled homeowners have received loan modification offers under President Obama's foreclosure prevention program, officials said Thursday.
Freddie Mac asked for another $6.1 billion in government aid Tuesday, after reporting a $9.9 billion quarterly loss.
Fannie Mae, the troubled mortgage finance company, reported a first-quarter loss of $23.2 billion on Friday.
Home mortgage rates ticked only slightly higher this week, according to a report released Thursday.
By now, most college-bound high school seniors have accepted an admissions offer and are cruising blissfully toward graduation, summer, and their chosen campus come fall. For parents, on the other hand, the hard work of financing this education is just beginning.
As Chrysler heads to bankruptcy court today in New York City, it becomes the highest profile failure for the private equity industry and its former owner Cerberus. But there is a slender silver lining for the New York money men.
The Obama administration lost a bid to add a powerful weapon in its fight against foreclosure Thursday, after the Senate voted down a proposal to allow bankruptcy judges to modify mortgages.
Home mortgage rates were mostly unchanged this week, with the average 30-year fixed mortgage rate holding steady, according to a report released Thursday.
Lenders continued to rewrite troubled mortgages at a fast clip during March, but the weakening economy still sent foreclosure starts soaring to a record high.
The Obama administration said Tuesday it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program.
After nearly 100 days in office, the Obama administration's campaign to lift the economy out of its deepest funk since the 1930s showed no signs of slowing down.
Question 1. We heard you mention forgiveness of law school loans. Our son and daughter-in-law are both new attorneys saddled with law school loans and we'd love to help them find more information, if possible. -- Paul and Mari
Home mortgage rates were slightly higher this week, jumping from near record-lows last week, according to a report released Thursday.
The acting chief financial officer of mortgage finance giant Freddie Mac, David Kellermann, was found dead Wednesday morning, police said.
Mortgage rates fell slightly this week and appear to be settling into a range near historically low levels, according to a national survey released Thursday.
Many college graduates are struggling with heavy student loan debt and steep monthly payments that limit their professional options. But for some, choosing the career of their dreams could actually lift that burden.
You've been waiting for this moment for nearly 18 years: Your baby is almost ready for college. Your finances, not so much. The market's protracted free fall means that your college fund is now worth just a fraction of what you need. Your home's value has no doubt dropped sharply too - no help there. The only thing that keeps going up, you guessed it, is college tuition. So it's goodbye, Dream School U., hello, Central State, right?
The road to a housing recovery will be a difficult one.
Home mortgage rates were slightly higher this week, snapping a 4-week streak of declines, said a report released Thursday.
Consumer credit fell in February, led by a sharp decline in credit card usage, a government report said Tuesday, as the ailing economy and widespread unemployment curbed spending.
Mortgages insured by the Federal Housing Administration can be a lifeline for low-income or high-risk borrowers. These loans have tiny down-payment requirements, competitive rates and easy credit-score hurdles.
It may seem obvious: Increasing how much troubled borrowers pay on their mortgage leads to redefaults. But that didn't stop America's banks.
An increasing number of students aren't making their student loan payments according to the Department of Education.
Home mortgage rates continued to march lower, according to two separate reports released on Thursday.
Lenders have helped an increasing number of mortgage borrowers to get current on payments and stay in their homes, but the tide of foreclosures is still rising.
Home mortgage rates dropped to a 52-year low this week, according to a report released Thursday, in the wake of the government's announcement that it will buy more than $1 trillion in debt.
Mortgage rates are lower than 5% - but how can you get the best refinancing deal?
If HOPE for Homeowners, the foreclosure-prevention plan passed last summer, was a soft drink, it would be New Coke. If it was an automobile, it would be an Edsel. A movie? Howard the Duck.
Mortgage interest rates are already flirting with record lows and the Federal Reserve's move to buy up government debt will send those rates even lower. But it doesn't look like it will get any easier for borrowers - even those with good credit.
As loan servicers scramble to implement President Obama's foreclosure prevention plan, the administration on Thursday unveiled a Web site to assist homeowners in determining whether they are eligible for help.
Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
President Obama's eagerly anticipated foreclosure prevention program went into effect on Wednesday. It targets 9 million borrowers for help - are you one of them?
For real estate appraisers, determining what a house is worth has become increasingly difficult, which is making it even harder for buyers to purchase homes or for homeowners to refinance.
For real estate appraisers, determining what a house is worth has become increasingly difficult, which is making it even harder for buyers to purchase homes or for homeowners to refinance.
Household net worth in the United States declined by $11.2 trillion last year, according to a government report issued Thursday, and Americans curbed their spending as they watched the value of their assets fall.
Mortgage rates slipped last week, according to a weekly survey released Thursday.
Freddie Mac, the government-backed mortgage finance company, said Wednesday it has asked the government for $30.8 billion in additional funding to close a gaping hole on its books.
All money missteps matter, but there are ways to keep your financial foibles from costing you big bucks.
More than 11% of all mortgages are either delinquent or in foreclosure, according to an industry report released Thursday.
The Obama administration's foreclosure prevention program was launched Wednesday.
Mortgage rates remained flat last week, as President Obama unveiled a $75 billion plan to help prevent foreclosures.
Bankruptcy filings by American consumers surged in February, according to a new report Wednesday.
We now know the details of President Obama's plan to stabilize the housing market and keep millions of Americans in their homes.
Mortgage modifications have a bad rap, yet President Obama is depending on them to stop the foreclosure crisis.
Freddie Mac's chief executive, installed last year after the government took over the troubled mortgage finance company, is resigning, the company and its regulator said Monday.
For Mint.com founder Aaron Patzer, personal finance should be "easy and effortless." Following are a few tips from Patzer on saving and spending. (Read more about how he started Mint.com here.)
Hammered by the ailing housing market, mortgage finance giant Fannie Mae said Thursday it would tap its lifeline from the Treasury Department after reporting $58.7 billion in losses for 2008.
Question 1. I have been looking for a job for seven months. I got an offer for the perfect job. But my credit score is in the high 500s. Will this hurt my chances of getting the job? Should I explain this to HR in advance? Janet, Georgia
Facing a difficult financial decision? Send in your question to Gerri for some timely advice.
Mortgage rates rose over the past week, as home prices and sales fell and the government issues massive amounts of debt to pay for federal spending.
Car leasing is a lot like renting an apartment; you pay a monthly fee to use it but don't own it -- and aren't making payments toward ownership. The leased vehicle remains the property of the lessor -- the company that issued the lease.
The $75 billion foreclosure prevention program announced Wednesday by President Obama will go a long way to helping millions of distressed borrowers and to stopping the housing market's downward spiral, experts said.
The eagerly anticipated foreclosure prevention program unveiled Wednesday by President Obama targets 9 million borrowers for help - are you one of them?
Mortgage rates held steady over the past week, as homeowners got a boost from the stimulus bill and President Obama unveiled a foreclosure-prevention plan on Wednesday.
President Obama unveiled a $75 billion multi-pronged plan Wednesday that seeks to help up to 9 million borrowers suffering from falling home prices and unaffordable monthly payments.
Obama administration officials are hammering out the details of a $50 billion foreclosure prevention program that the president is set to unveil Wednesday in Arizona, sources said.
JPMorgan Chase and Citigroup Inc. announced plans Friday to temporarily halt foreclosures as the government works to finalize the details of a financial rescue package that could include billions of dollars in aid for struggling homeowners.
The Obama administration is looking at subsidizing the mortgage payments of struggling borrowers before they default, according to sources familiar with the discussions.
The frantic pace of foreclosures eased in January, according to a monthly report released Thursday.
Some big banks have cut back on doing business with mortgage brokers - and if the trend continues, many mortgage brokers could close down.
Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday.
Treasury Secretary Tim Geithner is expected Tuesday to start laying out the Obama administration's long-awaited plans to address the foreclosure crisis.
This much we know -- the Obama administration wants to set aside between $50 billion and $100 billion to address the foreclosure crisis.
A wave of resetting adjustable rate mortgages had been poised to add to the flood of foreclosures as their rates jumped.
Consumer borrowing tumbled for the third consecutive month in December as the faltering economy continues to pressure households to curb spending.
Mortgage rates rose over the past week, pushing the cost of borrowing to its highest level since Christmas. And volatility is expected to continue as the debate over the economic stimulus plan continues.
Fair Isaac - they're the company that develops the formula that determines your FICO credit score - is rolling out a new version FICO 08 with the credit bureau TransUnion.
Mortgage rates fell over the past week, benefiting from the Federal Reserve's pledge to take all necessary action to stimulate the economy.
In a sign that banks are stepping up their efforts to combat foreclosures, lenders intervened to help prevent 239,000 foreclosures last month, according to a report released Thursday.
As required by the federal bailout law, the Federal Reserve will look to prevent foreclosures by modifying the terms on certain delinquent loans, lawmakers said Tuesday.
The federal regulator of Fannie Mae and Freddie Mac will set new rules early next week governing the mortgage finance companies' portfolios, which play a crucial role in the nation's housing market.
One of the nation's largest builders is trying to shock the flatlining new-home market into action with an incentive plan that will slash monthly mortgage payments for qualified buyers.
There could be help on the horizon for families worried about paying for college tuition if Congress passes the American Recovery and Reinvestment Act of 2009. Here is what this bill may do for college students.
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