Many consumers destined for soaring debt
It has been claimed in a recent report that many workers in the low and middle classes in the UK may be destined to struggle with debt for the next few years. The report claims that many low and middle class workers will not see any sign of a pay rise until at least 2015, which means that they will be stuck on the salary that they are currently on – or may even have their salary reduced – for at least the next three years or so.
In the meantime, the cost of living continues to soar, which means that whilst these workers have to cope with the same level of pay they are having to pay more for everything from the cost of energy usage to the cost of running a car, putting food on the table, and paying their bills. In
8% of Florida students default on school loans
Six months after graduation, those first student loan bills start arriving and for a Florida student in 2009, the average amount owed was about $21,000, according to the California-based Institute for College Access & Success. In this market, many graduates are unable to get the high-paying jobs needed to pay that debt.
Student loan debt nationwide now tops $913 billion and surpassed credit card debt for the first time last year, a study from college financial aid website FinAid has found.
Student Loans For Part Time Students
Q: Are there specific student loans for part time students in college, or do part time college students apply for the same financial aid and student loans as full time college students?
A: For federal financial aid, including federal student loans, a student’s full or part time status can affect how much financial aid they will qualify for, or if they will qualify at all. Most schools will consider anything over 6 credits as part time, however part time and full time student status requirements can be different for each school. Students must check with their school to be clear on the requirements for fulfilling part time student status. P
Rising rents affect non-homeowners
As many people will already know getting a mortgage in the current financial climate has become increasingly difficult, with many lenders currently because very cautious about who they lend to and how much they are prepared to lend. As a result of this the demand for rented accommodation from private landlords has been soaring, with many people fighting over each property that comes up for rent.
However, it has now been revealed that the average rents that are being charged on properties have reached record levels, with the amount having reached an average of £692 per month in April. This is 0.8 percent higher than it was for the previous month and around 4.4 percent higher than the same time last year. Landlords are now charging an average of £30 a month extra on rents in the current climate, putting additional financial pressure on tenants who have no choice but to rent because of the mortgage situation.
London and the South East of England saw the biggest increases in rents. O