Sep 12, 2018
Chart of the Week, Credit Cards, Student Loans, Behavioral Finance
I love this chart from a recent Wall Street Journal article because it captures the state of credit for young people just getting started in building their credit history:
What credit type is most prevalent among 18-22 year olds? 23-29 year olds?
Which type of loan has the highest balance for 18-22 year olds? 23-29 year olds?
At what age do you think you will have the following:
Retail store card
Which type of...
Aug 28, 2018
Question of the Day, Paying for College, Student Loans
Hat tip to NGPF Fellow, James Redelsheimer of Robbinsdale Armstrong High School of Plymouth, Minnesota for providing today's Question of the Day.
Did you think it was possible to have this much student debt?
Analyzing the graph on the previous slide, what types of degrees typically result in the largest amount of student debt?
Do you think someone with this much debt should be able to have some it forgiven by the government? Why or why not?
Click here for...
Jul 06, 2018
Current Events, Economics, Student Loans, Personal Finance, Retirement
This detailed Vox article explains what recent Supreme Court rulings at the end of this term mean for American business and the future of Antitrust. Economics nerds will enjoy the good examples of monopoly and monopsony here.
How do American workers fare compared to their counterparts across the world? Maybe not so well.
“Only Spain and Greece, whose economies have been ravaged by the euro-zone crisis, have more households earning less than half the nation’s median income...
Jul 04, 2018
Paying for College, Cartoons, Student Loans
They say there is a little truth in all humor...
What is the consistent theme running through all the comics?
How do you think student debt is affecting borrowers post-college lives?
Do a Google search to research online if there is evidence that student loans impact:
Big-ticket purchases (e.g., auto loans)
Living arrangements (independent vs. living at home)
What are strategies you can use to prevent student loans from having such a dramatic impact on your life...
Jun 29, 2018
Personal Finance, Economics, Student Loans, Current Events, Taxes, Credit Cards, Credit Scores
Here is an interesting, though depressing look at the employment trends and lack of upward mobility among workers in the lowest quartile.
The markets seem to be taking the impending trade war seriously this week.
Student debt forgiveness is good news. The bad news? Forgiveness comes with a tax bill.
Employers offering help repaying student loans to attract workers in a tight labor market.
Taxes: Have you heard about the post card sized 1040? Here is...
Jun 03, 2018
Student Loans, Question of the Day, Paying for College, Mortgages
Answer Student loan debt. Student loans had a 10.7% delinquency rate (over 90 days past due) vs. mortgage debt which had a delinquency rate of 1.2% in 1Q 2018.
What is the major difference between how a lender evaluates a consumer taking out a mortgage vs. how the government evaluates a student taking out a federal student loan?
What do you think happens if someone stops making payments on their mortgage? On their student loan?
Why do you think that more than 1 in...
May 25, 2018
Current Events, Personal Finance, Student Loans, Economics, Savings, Paying for College
A long weekend so the list and a couple of the articles are a bit longer.
Savings and Wealth
I plan to dig into this one more this weekend from an NYT opinion piece by the authors of a study on wealth inequality and families. (There is a link to their paper in the article, if you want to really take a deeper dive.)
Think having a million dollars in the bank makes you rich? Not according to bankers: bankers define rich as $25 million.
The number of 401k millionaires at the end of the first...
May 22, 2018
Activities, Credit Scores, Investing, Paying for College, Student Loans
It’s that time of year again! Echoes of Alice Cooper jolt you from your bed. Schoooool’s OUT… a little while longer! You wolf down 3 cups of coffee and schlep to school.
The hallways are abuzz before first period. State testing has wrapped. Sunshine and summertime beckon from just beyond, and students seem to be itching to do anything but learn. You have to summon everything in your power to keep your students engaged this deep into the waning school year.
NGPF is here to...
May 18, 2018
Credit Cards, Current Events, Student Loans, Behavioral Finance
Busy week..Happy Friday! Here's what caught my attention that I'll be reading this weekend. Enjoy!
It's a new perk in many companies..but should companies help their employees pay off their student loans? The Atlantic weighs in.
Federal student loans for the new school year are set and they are....here's the article that describes why the rate is rising.
He was an expert on student loans, until he wasn't. Inside the story of the mysterious Drew Cloud. ...
May 14, 2018
Paying for College, Question of the Day, Research, Student Loans
Answer: Teachers and counselors
Here's the top 3 sources:
Teachers and counselors: 65%
College websites/brochures: 57%
Speaking with family members, other than parents: 46%
What sources have you turned to/will you use in order to learn more about college costs?
Which source has been most helpful to you? Least helpful?
Have you received conflicting advice about college? How do you deal with that situation where you are getting differing advice from these sources? ...
May 11, 2018
Stocks, Student Loans, Credit Cards, Paying for College, Research, Current Events
Filling in for Beth this week with the weekend reads...Enjoy!
Across the pond...the Bank of England launched a program to improve financial literacy. "The econoME programme will give young people greater economic and financial awareness, equipping them with the skills to make more informed decisions about personal financial choices."
How did the Great Recession affect those with student debt? Hint: It delayed a lot of decisions.
90% of Americans believe that personal finance...
Apr 23, 2018
Paying for College, Research, Current Events, Student Loans
In the course of seven years of teaching personal finance to college students, I have had my share of experiences facing a silent audience, unwilling to engage. It is especially difficult to deal with if, on occasion, you have had a group that is totally engaged in the topic with no effort on your part. This has been a great source of frustration as an educator. I had trouble understanding why the students would decide to take the class or show up for a workshop on personal finance,...
Apr 10, 2018
Credit Cards, Credit Scores, Student Loans
Answer: Credit score
Why do you think so many people are interested in learning more about credit scores?
When people search "credit cards," what do you think they are hoping to learn/find?
There is about $1.5 trillion in student loans and just over $1 billion in credit card debt. Why do you think that more people are searching for credit cards compared to student loans?
Click here for the ready-to-go slides for this Question of the Day that you can...
Apr 09, 2018
Paying for College, Student Loans, Career, Economics
We just watched the Final Four (congrats to Villanova!), and it is now College Decision Month. My news feed is filled with college acceptance statistics and my college email filled with reminders of all of the activity on campus as admitted students come to visit. If we teach seniors, we are well aware of their stress as they compare programs, negotiate financial aid and make what is probably the biggest decision of their young lives so far.
A New York Times Upshot article entitled...
Mar 30, 2018
Current Events, Insurance, Student Loans, Stocks, Budgeting, Interactive
Social Media under the Microscope
Unless you have had your head in the sand, every other headline this week was about FACEBOOK. Here are a sampling of articles that cover all of the angles.
You can start here with an explanation of the Google and Facebook privacy issue.
Then learn what data Facebook (and others) collects on users. (EVERYTHING!!!)
Are you now curious to see exactly what Facebook has on you? This tells you how to get that info for yourself.
If that was scary - maybe...