Junk fees – those hidden and bogus charges that have found their way into a wide variety of transactions – are on consumers’ minds. After receiving more than 12,000 comments about how these fees impact consumers and businesses, the FTC announced on Oct. 11, a proposed rule on deceptive fees. It's now looking for further feedback.
On Friday, I had a busy day and missed the announcement that it was One Health Day. It’s a global campaign that brings attention to the need for a coordinated approach to address shared health threats at the human-animal-environment interface. I’d never heard of One Health Day before, but it addresses health concerns I’ve written about over the years:
It’s heartbreaking. I’ve seen young people sign up for for-profit colleges and they use their laptops to complete the courses. They expect great things from the programs they choose. However, the results are usually poor, despite what the advertising says. Most colleges will give you a valuable education that can help you achieve your career goals.
Paying off student loans is bad enough without being ripped off by a dishonest company. Some companies pretend to be affiliated with the Department of Education, charge illegal junk fees, and lure students with repayment programs and loan forgiveness that don’t exist. The FTC is banning two student loan debt relief companies for these illegal activities
Students can get into trouble when entering into agreements with colleges to spread the cost of tuition into several, interest-free loan payments. Many plans have conflicting disclosures and confusing repayment terms, which put students at risk of missing payments, getting late fees, and piling up debt, a report by the Consumer Financial Protection Bureau found.
If someone tells you that you need to pay to sign up for government student loan debt relief program, run away as fast as you can. Scammers want to hook you and fill their pockets with your money, while their “advice” may make your student loan problems worse. The FTC offers the following tips for how to spot scam companies:
Biden administration cancels $39 billion in student loans for more than 800,000 borrowers that had errors in their payment records
More than 804,000 borrowers will have $39 billion in federal student loans discharged in the coming weeks, the U.S. Department of Education announced Friday. The discharges are fixes to ensure borrowers have an accurate count of monthly payments that qualify toward forgiveness under income-driven repayment plans.
Graduations are coming up and many parents and students are thinking about student debt, which totals $1.63 trillion in the United States. That's about $37,600 per borrower. In the short term, students are not overly optimistic about their financial situation, as 88 percent are concerned about the economy and 80 percent are worried about inflation,
Paying off student loans is a big job, especially since it usually takes most people years to achieve it. Consumers need to beware of debt relief companies that promise quick loan forgiveness. Scammers claim they’ll help you, for a fee, but their schemes often leave you deeper in debt. The FTC has stopped two student loan debt relief schemes.
Today’s my birthday. Yes, I do get a lot of “May the Fourth be with you” comments. I just shrug it off that my birthday, to some, is an unofficial Star Wars holiday. Since I’m an older adult, I’m thinking a lot today about friends and relatives that I’ve celebrated birthdays with in the past who are gone. My favorite birthdays?