This weekly (or perhaps more frequent) compilation of tips, trends and news is intended to help readers improve their level of financial literacy. Have any ideas for stories or topics feel free to send them along to me at email@example.com. I hope you enjoy it!
SmartMoney provides a top ten list of what student loan companies won't tell you including "you may be in over your head" as default rates on loans increase:
"Nearly 10% of federal student-loan borrowers defaulted during the two years ended Sept. 30, 2010, according to the Department of Education, up from 7% in 2008. Private student loan defaults are rising also: Around 5.4% of private student loans defaulted during the second quarter of this year, up from 4.5% a year ago, according to Moody's Investors Service Private Student Loan Indices, which tracks loans."
On the subject of increasing student loan defaults, Penn State is considering bolstering their financial literacy offerings: