Corinthian Colleges–which includes the Everest, Heald and WyoTech schools–has just been sued by the Consumer Financial Protection Bureau for what regulators call its “predatory lending scheme.” The CFPB alleges that the for-profit college chain exaggerated students’ job prospects to get them to take out private loans to cover its schools’ high tuition costs. The bureau […]
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Tuesday’s need-to-know money news
Today’s top story: How paying your credit cards early and often can protect your credit score. Also in the news: How to save your kids from spending their 20’s in debt, six home renovation mistakes to avoid, and tips on getting the best car loan. Charge a Lot? Pay Early and Often to Avoid Score […]
Monday’s need-to-know money news
Today’s top story: Tax breaks that can help pay for your kid’s college. Also in the news: How to prevent bad financial decisions in old age, when it’s time to call in a financial adviser, and the surprising answer as to whether or not you should pay off your mortgage early. Tax breaks that can […]
Q&A: Consolidating multiple student loans
Dear Liz: I have four private student loans that I would love to consolidate so that I can have one medium-size monthly payment instead of four large ones. How do I go about finding a company that will consolidate them? Answer: If you have good credit and sufficient income — or a willing co-signer — […]
Q&A: Mileage bonus credit cards
Dear Liz: I’m attracted to the credit card offers that give substantial mileage bonuses for opening and using an account. Most also waive the first year’s fee. I have taken advantage of one such card, and then I canceled it before any fee was due. (I certainly enjoyed using the miles.) I hesitate to take […]
Q&A: Keeping financial records
Dear Liz:I have a garage full of old financial records. I believe I need to keep only seven years of information for tax purposes. Is that correct? However, I have decades of receipts on house repairs and improvements since I believe there is some cumulative tax credit that might someday be important. Also, I have […]