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Student Debt: Student Debt - Debt Elimination Plan


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  • ( ) Britons Face Billion-Pound Interest Payback

    One in four people is struggling with their debts as Britons collectively face a �93bn annual bill for interest.

    At the same time, around three million people have taken out a debt consolidation loan to try to get on top of their borrowings.

    Borrowing through credit cards, loans, overdrafts and mortgages has hit almost �1.4 trillion, according to comparison website uSwitch.com.

    An estimated 9.5m people had "maxed out" on one form of credit during the past six months, while 38% have had a credit card application rejected, the group claims.

    But nearly two-thirds of these failed to close down their existing credit facilities, and instead went on to rack up a further �2,300 of debt on average.

    Overall, the research found that the average household has now amassed unsecured debts of �4,281. More>>

  • ( ) Tight "Money"

    That is leaving them with a tough choice: either put off the projects, or pay higher interest rates on their bonds... Faced with the prospect of paying higher interest rates this month, Chicago canceled a $960 million bond. Miami-Date pulled a $540 million offering for its airport... Several finance directors said it is unusual for turbulence to hit municipal bonds, a tax-exempt investment that has long been considered safe. 'There's some unique and maybe even unprecedented dynamics that have been occurring because of the credit crunch,' said Lasana Mack, the District's treasurer. For the past several years, cities and towns have been able to borrow money by issuing bonds that pay historically low interest rates. That era of easy money is ending for many municipalities, mostly because of spiraling losses in the mortgage industry that have been driving up borrowing costs."

    November 27- Bloomberg (Michael B. More>>

  • ( ) ORU in debt $52.5 million

    For more: Read the latest stories, view the lawsuit and other documents and watch slide shows and video.

    The regents chairman says the board is working to reduce it.

    Oral Roberts University is $52.5 million in debt — an amount on the decline but a burden keeping the college from improving its campus, university representatives said Wednesday.

    The debt accumulated from “years and years and years and years of . . . borrowing," said board of regents Chairman George Pearsons, who still was gathering information on the sources of debt.

    “The board is working on it, doing everything we can to get rid of it," Pearsons said in an interview last week. “The banner is up: Debt is out. That's our determination."

    ORU is paying its bills on the debt and working on strategies to reduce the debt and increase income, he said Wednesday. More>>

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