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Tag Archives: economy

Is college always worth the debt?

Kelly Dilworth

When a family member told me they’re skipping college in order to avoid the extra debt, I couldn’t bring myself to tell them that they’re making a huge mistake. A lifetime of low earnings makes it tough to get by. But so does crushing debt. Here’s what the numbers from new studies say.
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Gen. Y to Congress: We can’t get approved for home loans

Kelly Dilworth

College debt weighs so heavily on the millennial generation that a college-educated 30-year old is now less likely to own a home than a 30-year-old with no student debt. That was part of the testimony at a U.S. Senate hearing this week, aptly titled “Dreams Deferred.”
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U.S. economic recession shifted FICO credit scores

Jeremy Simon

It’s no shock that during the devastating economic downturn, a lot of people went from good credit to bad, as job losses and foreclosures took their toll. But here’s a surprise: According to FICO data, the number of people with excellent credit didn’t fall during the recession — it grew.

“Many people seem to think that everyone’s FICO score must be down these days. However scores have moved in both directions,” says Rachel Bell, senior director of global scoring solutions for FICO.

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Today’s slightly easier credit may be just a mirage

Jeremy Simon

The U.S. economy’s problems could make it harder for you to get a credit card, according to one chief economist.

If you recently applied for a new credit card, you may have found the bank was more likely to grant your request. And you weren’t the only one: A recent pair of reports from the Federal Reserve showed that consumers opened 10 million more credit card accounts in the second quarter of this year (April to June) as banks became more willing to approve borrowers for new credit.

But even if you’re celebrating now, don’t expect the party to last.

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Emily’s list: Don’t know much about chemistry

Emily Crone

In this week’s roundup of personal finance blog posts, we explore how chemistry is a part of our everyday lives, even when it comes to money management and debt.
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