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By Anwer Hasan | July 29, 2014
Student debt has grown to over $1 trillion in the United States and is continuing to climb. In fact, seven out of 10 undergraduates graduated with some form of student debt in 2012. Such enormous debt is likely to trigger another financial crisis as young adults and recent graduates struggle to pay back their loans. The federal, state and local governments have taken a number of steps to provide aid in the form of scholarships, grants, loans and repayment assistance programs. In Maryland, for example, the state's Janet L. Hoffman Loan Assistance Repayment Program provides loan repayment assistance for graduates working in high needs areas in targeted fields such as medicine, education and law. In Fiscal Year 2013, 193 awards were made through that program; loan repayments totaled more than $1.2 million, with an average award of roughly $6,400 per recipient.
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NEWS
September 24, 2014
Thirty years ago, on its opening day in 1984, Donald Trump stood in a dark topcoat on the casino floor at Atlantic City's Trump Plaza, crowing that his new investment was the finest building in Atlantic City and possibly the nation. Last week, the Trump Plaza folded and the Trump Taj Mahal filed for bankruptcy, leaving some 1,000 employees without jobs. Mr. Trump, meanwhile, was on Twitter claiming he had "nothing to do with Atlantic City," and praising himself for his "great timing" in getting out of the investment.
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NEWS
By Yvonne Wenger and Ellie Kahn, The Baltimore Sun | June 6, 2012
A review of financial disclosure statements sheds light on how Annapolis lawmakers make their money and whom they are indebted to - at least for the sort of debt that's marked in accounting ledgers. Gov. Martin O'Malleyreports that in addition to making a living as Maryland's chief executive, he's signed up with the Screen Actors Guild. Remember his role as the mayor in Ladder 49 from 2004 when Baltimore's then-Mayor O'Malley starred as one of some 500 extras in the film featuring John Travolta and Joaquin Phoenix?
NEWS
By Anwer Hasan | July 29, 2014
Student debt has grown to over $1 trillion in the United States and is continuing to climb. In fact, seven out of 10 undergraduates graduated with some form of student debt in 2012. Such enormous debt is likely to trigger another financial crisis as young adults and recent graduates struggle to pay back their loans. The federal, state and local governments have taken a number of steps to provide aid in the form of scholarships, grants, loans and repayment assistance programs. In Maryland, for example, the state's Janet L. Hoffman Loan Assistance Repayment Program provides loan repayment assistance for graduates working in high needs areas in targeted fields such as medicine, education and law. In Fiscal Year 2013, 193 awards were made through that program; loan repayments totaled more than $1.2 million, with an average award of roughly $6,400 per recipient.
BUSINESS
By Patricia Alex and Patricia Alex,The Record | November 18, 2007
HACKENSACK, N.J. -- It's no small thing to make it to the top of one of U.S. News and World Report's college lists. But the folks at Seton Hall University aren't exactly celebrating their No. 1 national ranking for student-loan debt. Sixty-one percent of students graduating from the South Orange, N.J., campus have to pay back student loans - the average totaling $37,724, according to America's Best Colleges 2008. The numbers are high but they are not an aberration. Nationally, nearly two-thirds of graduates of four-year schools have debt, according to the Project on Student Debt.
NEWS
August 29, 2013
There is little doubt that an informed consumer makes better choices. That's why pharmaceuticals should include information about side effects and drug interactions, why food should carry nutrition labels and why potentially dangerous products carry warnings. Public education has gotten much better about informing taxpayers about its product, too. At the touch of a few buttons, Maryland parents can find out how their child's school performed in standardized tests this year and other years, how much their school system is spending on a per-pupil basis and how many are dropping out or graduating in any given year.
MOBILE
June 27, 2012
Call us what you want -- Millennials, Generation Y, Generation We -- it doesn't change the reality that most of us grew up just as one era ended and another began. We're old enough to remember what life was like before high-speed Internet, but young enough to lead the digital revolution. In the meantime, we're dealing with our shortened attention spans, student debt and smartphone obsession. Photo galleries: 10 personality traits of the Millennial Generation Millennial Generation's 7 defining moments Movie quotes for the Millennial Generation Millennial Generation's TV idols
BUSINESS
By Eileen Ambrose, The Baltimore Sun | September 12, 2010
Consumers have hit a new milestone: Student loans now exceed credit card debt. Student debt reached nearly $830 billion in June, surpassing credit card and other revolving debt for the first time by more than $3 billion, according to The Wall Street Journal, which recently reported this troubling statistic. This spurred FinAid.org to launch a student debt clock that shows borrowers slipping deeper in the hole, by $2,854 per second. Consumers have been paying down card debt in the past two years, while student borrowing has been rising.
BUSINESS
By Gail Marksjarvis and Gail Marksjarvis,Chicago Tribune | April 29, 2007
It's a decision filled with daydreams and nightmares. As students ponder what to say in response to the college acceptance letter they've received, their imagination might flit from parties and a glorious career to a noose of suffocating college loan debt. "Too many students don't think about it until they are about to graduate from college," says Mark Oleson, director of the Office for Financial Success at the University of Missouri-Columbia. "But by that time they might have dug themselves into a hole they can't afford."
NEWS
December 18, 2012
The United States is in a debt crisis across the board. The leadership in Washington refuses to do what we elected them to do which is make the hard and intelligent decisions for the population. That requires actually leading from the front and not behind. Instead, the politicians take polls and point fingers. The housing industry that has driven the economy for 50 years is still mired in foreclosed homes and homeowners who are underwater with no way out. Student debt keeps rising due to ever higher college and university costs.
NEWS
By Peter Morici | May 27, 2014
To head off a tough bout with stagflation - slow growth and high inflation - the Federal Reserve should start raising interest rates soon. Most economists expected 2014 to be a breakout year. A surge in new home construction was expected to instigate growth and job creation throughout the economy, even as inflation remained reasonably tame. But so far the reverse appears to be happening. Over the last year, consumer prices are up 2.0 percent - nicely within the Fed's target range - but in recent months, food and energy prices have increased strongly.
NEWS
By Wala Blegay | May 6, 2014
President Barack Obama's recent grant award to three Prince George's county schools for the development of student apprenticeship programs in high-demand Science, Technology, Engineering and Math (STEM) industries, is a sign of a paradigm shift in American education. Traditional higher education is no longer the guaranteed pathway to successful, prosperous careers and wealth. President Obama and governmental stakeholders are recognizing that skilled job-training or apprenticeship programs in diverse fields are the best solutions to improve economic development for generations of young Americans.
NEWS
By Michael Dresser, The Baltimore Sun | May 4, 2014
Citing a report that Marylanders are carrying the highest level of student debt in the country, Democratic gubernatorial candidate Heather R. Mizeur will propose a plan Monday to make college more affordable and increase need-based financial aid. Mizeur, who is running for governor against Lt. Gov. Anthony G. Brown and Attorney General Douglas F. Gansler in the June 24 Democratic primary, is calling for a $12 million increase in aid based on...
NEWS
By Carrie Wells, The Baltimore Sun | March 18, 2014
The University of Baltimore will offer free tuition to college students in their final semester if they can finish their degrees in four years, the school announced Tuesday. The unusual break could boost the college's flagging graduation rates and reduce student debt loads. Dubbed "Finish4Free," the deal is to be offered to this fall's freshmen when they reach their senior year, school officials said. They were unsure how much it would cost the university. In-state students now pay about $3,300 in tuition each semester; out-of-state students pay $9,000.
NEWS
August 29, 2013
There is little doubt that an informed consumer makes better choices. That's why pharmaceuticals should include information about side effects and drug interactions, why food should carry nutrition labels and why potentially dangerous products carry warnings. Public education has gotten much better about informing taxpayers about its product, too. At the touch of a few buttons, Maryland parents can find out how their child's school performed in standardized tests this year and other years, how much their school system is spending on a per-pupil basis and how many are dropping out or graduating in any given year.
NEWS
By Robert B. Reich | July 3, 2013
Jobs are returning with depressing slowness, and most of the new jobs pay less than the jobs that were lost in the Great Recession. Economic determinists assume that globalization and technological advancement necessarily condemn a large portion of the American workforce to underemployment and stagnant wages, while rewarding those with the best educations and connections with ever higher wages and wealth. Many on the right of the political spectrum say we should accept this outcome because we mustn't interfere with the free market.
NEWS
By Tricia Bishop, The Baltimore Sun | June 7, 2013
Phoebe A. Haddon, dean of the University of Maryland Carey School of Law, will step down at the end of the coming school year to return to teaching, the school announced Friday. She expects to take a year sabbatical to research "contemporary challenges in legal education" then join the Maryland law faculty. "I truly believe that many opportunities lie ahead of us and that this institution is full of talented, committed people to take advantage of them," Haddon said in announcing her departure, according to school representatives.
BUSINESS
By EILEEN AMBROSE | April 20, 2008
If you must borrow for college, your best bet is a federal student loan. You don't need a credit check. The interest rate is low. Repayment plans are flexible. And, thanks to a new law, federal loan debt could be forgiven after a number of years if you work in certain needed fields. Problem is, more than 1 million community college students, or about 10 percent, don't have access to federal loans, according to a new report by the Project on Student Debt. The reason: Their schools won't participate in the federal Stafford loan program.
NEWS
By Tricia Bishop, The Baltimore Sun | June 7, 2013
Phoebe A. Haddon, dean of the University of Maryland Carey School of Law, will step down at the end of the coming school year to return to teaching, the school announced Friday. She expects to take a year sabbatical to research "contemporary challenges in legal education" then join the Maryland law faculty. "I truly believe that many opportunities lie ahead of us and that this institution is full of talented, committed people to take advantage of them," Haddon said in announcing her departure, according to school representatives.
NEWS
By Paul G. Pinsky and Anne R. Kaiser | May 16, 2013
Graduation season has arrived, and with the accompanying recognitions of hard work, we have something else to celebrate: this year's passage and today's signing of the College Readiness and Completion Act of 2013. Never before has the state of Maryland established such clear, student-friendly statewide policies designed to help many more Marylanders earn the postsecondary credentials they will need to support themselves, their families and their communities. Along with Sen. Richard Madaleno and Del. John Bohanan, who chair the General Assembly's budget subcommittees on education, we developed this comprehensive legislation to ensure that Maryland's students are ready for college and the work force - and really, life - after high school.
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