Student Debt

A national study comparing general school funding dollars with the amount spent on staff benefits singled out Illinois, and not in a good way.

 

The study tracked spending on K-12 education for the years 2005 through 2014. And nationwide, spending increased slightly… But spending on benefits for school staff? That increased much more.

A central Illinois lawmaker is working with Attorney General Lisa Madigan to protect student loan borrowers from losing professional licenses as they work to pay off their debt.

Let's say you've got a student loan and you get laid off your job. Your loan servicer suggests something called "forebearance" — the chance to delay payments for a year or two. Sounds tempting, but it ends up costing you more money.

That's one of the many tricky facts loan servicers will have to disclose in Illinois, where lawmakers yesterday approved stringent regulations on student loan service companies.

People
www.adamspeaks.com

WSIU's Jennifer Fuller talks with financial expert Adam Carroll, ahead of his lecture at SIU Carbondale through the University Honors program.