Because of the UK's dramatic shift from student grants to loans, a startling report from the Institute for Financial Studies predicts that 77.4% of university graduates in the UK's class of 2017 will not repay their full student loan obligations. This is up from 41.5% just six years ago in 2011.
The shift came in the wake of austerity measures that phased out tuition assistance with no repayment requirement. Via IFS:
We have shown that changes to the system since 2011 have significantly increased students’ average levels of debt on graduation. However, a key insight from Crawford and Jin (2014) is that higher debt levels do not necessarily translate into higher graduate repayments. Indeed, those authors showed that the 2012 reforms actually reduced total repayments for the bottom 30% of graduates. This was because the reform significantly increased the threshold at which individuals start to make repayments.
In Cincinnati, Ohio, the U.S. Customs and Border Protection intercepted more than $250,000 in counterfeit US bills on its way from Shenzhen, China to Guthrie, Oklahoma. From Fox19: The money, which was not washed or bleached, was printed from a high-end printer on regular paper. Officers say the currency number was the same for every […]
My pal Shalaco sent me this video he made with the following message: As a photographer I lost 100% of my income due to the Covid-19 crisis. I applied to every form of financial support out there and recently had a lot of success. I want to share what I’ve learned with the community with […]
Even though it feels like Amazon is a singular retail juggernaut crushing everybody else, you might be surprised to learn that half of Amazon’s $280 billion in revenue last year came from third-party sellers. According to numbers compiled by JungleScout, 86 percent of Amazon’s Fulfilled by Amazon (FBA) sellers were profitable last year, more than […]
Amidst all the deadly serious concern and fallout from our global battle against COVID-19, you’ve likely been forced to confront more than a few moments that you never expected to face. And you likely never felt sillier during this scary time than when you were racing all over town hoping desperately that some store had […]
“It’s better to have it and not need it than to need it and not have it.” – “Lonesome Dove,” Larry McMurtry If the past few months have taught us anything, it’s that we need to be prepared now more than ever. Emergency situations can happen quickly and there’s no telling when you may need […]