Six Figure Majors

Categories: Majors & Minors

What are the highest-paying college majors? You may have heard STEM fields are where you want to look if you’re seeking a lucrative degree, but is that always true? We’ve dug into U.S. Census Bureau data to find out what the top-paying majors really are. Read the rest of this entry »

Original Post Date: March 2nd, 2016

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15 Financial Aid Myths

There are a lot of misconceptions and myths surrounding financial aid and the FAFSA and we understand why. It certainly can be confusing! Unfortunately, certain impressions can affect your ability to maximize the aid you’re eligible for. That’s why clearing up the rumors is so important! Here are just a few of the top financial aid myths you may have heard and why you shouldn’t believe them. Read the rest of this entry »

Original Post Date: March 2nd, 2016

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Impact of Student Loans on Home Ownership

houses-691586_640A new study from the Federal Reserve, On the Effect of Student Loans on Access to Homeownership, finds that “a 10 percent increase in student debt causes a 1 to 2 percentage point drop in the homeownership rate for student loan borrowers during the first five years after exiting school.” This compares with a 0.1 percentage point decline for controls and is consistent with a 3-month delay in home ownership.

The study assumes degree attainment as a baseline from which to compare the impact of student loan debt on home ownership. Nevertheless, the counterfactual – that student loan borrowers might not have been able to afford home ownership had they avoided student loans by not going to college – remains valid despite this study.

The study also found that the likelihood of home ownership increases with and is dominated by the number of years since exiting school. The study does not, however, address the impact of student loan debt on home ownership past the 5-year window.

The study also does not fully eliminate the potential for confounding factors that contribute both to an increase in student loan debt and a decline in home ownership.

The Federal Reserve study was based on a nationally-representative sample of people who were age 23 to 31 in 2004 and cover the period from 1997 to 2010.

Original Post Date: February 29th, 2016

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