Judge Approves $25 Million Settlement Of Trump University Lawsuit

The deal was reached in November but needed the approval of U.S. District Judge Gonzalo Curiel. One student had objected to the settlement, which prevented her from suing Trump on her own.

source http://www.npr.org/sections/thetwo-way/2017/03/31/522199535/judge-approves-25-million-settlement-of-trump-university-lawsuit?utm_medium=RSS&utm_campaign=education

3 Ways to Pay Off Big Student Loans Faster

The average student now graduates from college with around $30,000 in loan debt. However, the most recent data from the Council of Graduate Students states that 1.74 million students are continuing their education with Master’s and Ph.D. programs, piling on even more student loan debt. Currently, graduate student degree holders account for 40% of the over $1 trillion in total student loan debt for the country, according to The Wall Street Journal.

Depending on your job and other financial responsibilities, paying back that amount of debt could take a lifetime. That’s why it’s paramount to tackle your student loan with an aggressive strategy. Start your journey with these tips:

1. The debt avalanche method.

There are several different debt repayment strategies developed by experts. One of the most popular is the debt snowball plan. It recommends that borrowers pay back the loan with the least amount owed with the idea that paying off small student loans will help borrowers build momentum toward paying off the larger loan amounts.

The debt avalanche method, however, encourages borrowers to pay off the student loan with the highest interest rate first. This strategy helps graduates save more money in the long run. At the same time, borrowers should pay the minimum on any other student loans.

2. Take advantage of extra income opportunities.

In addition to your real job, it may be beneficial to look for other income opportunities. You could pet sit for friends and family, become a brand ambassador for a product or clean houses. Fortunately, there are a plethora of industries that offer part-time work. Using all income from your side job could enable you to make extra payments on student loans.

It’s also worth exploring student repayment help at your job. While the practice is still relatively new, there are companies that are beginning to help their employees pay down their student loans. Ask your boss or talk to the human resources department about student loan assistance.

3. Make extra payments.

Student loans require a minimum monthly payment in order to prevent the loan from going to default. However, if you’re making the minimum payment, it will take decades to pay off your student loans. Aim to pay the minimum monthly payment as well as the interest that you will accrue for the loan for that month. To determine your daily interest costs, multiply your interest rate by the current balance on your student loan; then divide that by the number of months in the year. That figure will serve as the amount of interest your student loan is accruing each month.

When you can, make extra payments. If you have a surplus of $50 or $100, use it to pay down your student loans rather than something superfluous.

If you want to get serious about eliminating your student loan debt, it will require your fair share of sacrifice. You may have to pass on vacations, shopping sprees and home décor for your new apartment. But all of that is just “for now.” Paying off student loans will enable you to save money faster for those things you really care about – like your first home, trips abroad and building your nest egg for retirement. A little sacrificing now, means less sacrificing later.

For more student loan repayment advice, visit our Student Loan Center.

source http://www.fastweb.com/financial-aid/articles/three-ways-to-pay-off-big-student-loans-faster

#ThanksForTyping Spotlights Unnamed Women In Literary Acknowledgments

A professor shared book acknowledgment pages, where men thanked their wives for typing their manuscripts. #ThanksForTyping soon sparked a conversation on women and their uncredited roles in academia.

source http://www.npr.org/2017/03/30/521931310/-thanksfortyping-spotlights-unnamed-women-in-literary-acknowledgements?utm_medium=RSS&utm_campaign=education

A Surprising Explanation For Why Some Immigrants Excel In Science

It has to do with language learning, according to a new study from Duke University.

source http://www.npr.org/sections/ed/2017/03/30/521794961/a-surprising-explanation-for-why-some-immigrants-excel-in-science?utm_medium=RSS&utm_campaign=education

Muslim Schoolchildren Bullied By Fellow Students And Teachers

One study revealed that teachers and school officials have participated in one in four bullying incidents involving Muslim students.

source http://www.npr.org/sections/codeswitch/2017/03/29/515451746/muslim-schoolchildren-bullied-by-fellow-students-and-teachers?utm_medium=RSS&utm_campaign=education

A New Kind Of March Madness Hits Schools

It's March Mammal Madness, a bracket with real animals facing off in fictional battles. Hundreds of science classes are playing in schools around the country.

source http://www.npr.org/sections/ed/2017/03/29/521148505/a-new-kind-of-march-madness-hits-schools?utm_medium=RSS&utm_campaign=education

The Dos and Don'ts of Tax Season for Students

This year, you don’t just have to worry about filing your taxes correctly – you have to worry about getting the best financial aid deal out of your taxes. No pressure – right?

It doesn’t have to be overwhelming or confusing; we’ve got you covered. Conquer your taxes – and make the results work to your advantage – with our do’s and don’ts of tax season.

1. Do know the difference between tax-free and tax-exempt scholarships. Scholarships fall into two categories: tax-free and not tax-free. Before you apply, ask the scholarship provider about their tax status. You don’t want to win a scholarship only to lose some of that money in paying taxes. Unless it’s more than worth it, of course.

2. Do take advantage of tax credits. There are two tax credits available to students and their families filing their taxes: the American Opportunity and Lifetime Learning tax credits. Eligible students can claim up to $2,500 with the American Opportunity tax credit; and if the tax credit pays your tax down to zero, you can have 40% of the remaining amount of the credit – up to $1,000 – refunded to you. The Lifetime Learning tax credit is worth up to $2,000, and there is no limit to how many years it can be claimed.

3. Don’t default on your student loans. Defaulting on your student loans has far-reaching ramifications, one of which is no more tax refunds. The federal government has the right to garnish your tax refund for each year you’re in default.

4. Do deduct your loan interest. As a borrower, you are eligible to deduct up to $2,500 on qualified student loans for interest paid. To be eligible, borrowers must make less than $80,000 a year – or $160,000 if married and filing jointly.

5. Do your research on student loan forgiveness and taxability. Student loan forgiveness is a huge benefit for borrowers working in certain fields. After 10 years – more of less depending on the type of service – student borrowers can have the remaining balance of their loans forgiven. However, it comes at a cost. If your student loans are forgiven, you’ll have to pay taxes on the remaining balance paid.

6. Don’t lie on your taxes. Intentional or not, mistakes on your taxes don’t just land you on the IRS watch list. They will affect your financial aid. The FAFSA asks for financial information from the prior prior tax year, meaning you could miss out completely if your taxes are pulled for review.

Filing your taxes plays a large role in formulating future financial aid. Be smart about the process, take your time and double check your financial information.

For more tax help, click here.

source http://www.fastweb.com/financial-aid/articles/the-dos-and-donts-of-tax-season-for-students