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College Students Are Paying More, But Many Schools Are Spending Less On Them

For the past 30 years, U.S. colleges and universities have been increasing tuition costs by 2% to 5% per year. But that doesn’t mean all those dollars are allocated for increased school spending on student education. Despite the tuition hikes, education spending is flat or falling at many public and private institutions. With revenue streams like state subsidies drying up, colleges aren’t relying as heavily on those means to pay for the cost of education—they’re making students and families pay for more of it themselves.

nytimes.com
Puerto Ricans Brace for Crisis in Health Care
More than 60 percent of Puerto Ricans receive Medicare or Medicaid, but planned cuts to a program and the loss of doctors to the mainland are raising fears that the system is near collapsing. [Image: Santos De Hoyos, center, at a clinic in Mayagüez, P.R., worries that his medical plan could stop covering his medication. Doctors have left in droves to work on the mainland.]
By Lizette Alvarez and Abby Goodnough

MAYAGÜEZ, P.R. —  The first visible sign that the health care system in Puerto Rico was seriously in trouble was when a steady stream of doctors — more than 3,000 in five years — began to leave the island for more lucrative, less stressful jobs on the mainland.

Now, as Puerto Rico faces another hefty cut to a popular Medicare program and grapples with an alarming shortage of Medicaid funds, its health care system is headed for an all-out crisis, which could further undermine the island’s gutted economy.

On an island where more than 60 percent of residents receive Medicare or Medicaid — an indicator of Puerto Rico’s poverty and rapidly aging population — the dwindling funds have set off outpourings of concern among patients and doctors, protest rallies and intense lobbying in Washington.

And while the crisis is playing out most vividly today, its cause dates back decades and stems, in large part, from a vast disparity in federal funding for health care on the island compared with the 50 states. This disparity is partly responsible for $25 billion of Puerto Rico’s $73 billion debt, as its government was forced to borrow over time to keep the Medicaid program afloat, according to economists.

“These are a cascade of cuts that will have disastrous, gigantic implications,” said Dennis Rivera, the chairman of the Puerto Rico Healthcare Crisis Coalition, a group of doctors, hospitals, health care advocates, unions and insurance companies lobbying the Obama administration and Congress. “Health care in Puerto Rico is headed for a collapse.”

He added, “If we pay the same Medicare taxes and Social Security taxes, we should be treated equally.”

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What banks don’t want you to know about the Greek crisis

Is the crisis in Greece solely due to government overspending and irresponsibility? Are the Greek bailouts intended to help the Greek people recover from their “self-inflicted” economic crisis? Think again. Here are some things you’re not being told about the Greek crisis. A guide on how to profit from a failing country like Greece– and get away with it. Courtesy of Greece’s creditors.

Top Majors For Recent Grads: Turning Unprofitable Degrees Into Lucrative Career Paths

Not everyone’s desperately forcing themselves into a finance or computer science degree in the hopes of a steady job post-graduation. Droves of students are still opting for degrees as diverse as performing arts and health professions, according to data recently collected from LinkedIn.

Out of the 650 schools on FORBES’ Top Colleges list this year, social sciences is the second-most popular area studied. Communications and psychology also showed up in the top 10.

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“I think that’s the system, at least in America, is probably going to be the next bubble to go. This idea that you have to shove everyone into college and that no one can take a year off to think what they’re doing and that you should spend two years figuring out your major for 80 grand… In America it’s truly like, the students are suffering coming out of college with hundreds of thousands of dollars in debt and the colleges are booming, cause I’ve performed in hundreds of them, and they all have new libraries  and new gyms, the universities themselves are thriving on the debts of their students. So, it’s pretty evil.” (x)


onforb.es
What You Could Buy If You Didn't Have Student Loans

The class of 2015 just graduated with an average student loan debt of $35,000, according to estimates from Edvisors.com. That’s the highest collective debt of a graduating class in history and it’s adding to the (already staggering) national student debt of $1.2 trillion dollars. With over 70 percent of recent grads […]

6 Groups Getting Rich Off Your Student Loans

Don’t read this as an endorsement, but the student debt crisis has been pretty lucrative.

Some 40 million people owe about $1.3 trillion in student loan debt. It isn’t pretty. But it is profitable – depending on who or what you are. Here’s a look at where a lot of the money flows, from the public sector to the private sector to academia.

5 Smart Steps For Struggling Student Borrowers

Rather than turning to one of these questionable debt relief firms you find on the web, take these five steps:

1) Know what you owe. View all your federal loans on the National Student Loan Data System

2) Refinance. If you have a high-paying job and are able to make your monthly payments, you may be able to reduce your total costs by refinancing through startups.

3) Check out federal options. Use government calculators to see how much you can lower monthly payments and what the total costs of your loans will be over time. 

4) Jawbone private lenders. If you’re having trouble making payments on private student loans, call the servicer and ask for relief.

5) Get legit advice. Don’t let anyone pressure you into choosing a repayment plan you’re unsure about or paying a fee to apply to one.

More advice here.