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When do markets close for Labor Day?
Netflix stock heads toward fifth straight loss
ISM services index slows, but tops forecast
Jobless claims rise to two-month high
U.S. trade deficit shrinks 7.4% to $41.9 billion
Europe markets rise | FTSE 100 heads for gain
L.L. Bean longtime CEO Leon Gorman dies
Treasury's Lew irked by China's FX move

Why maternity leave is shrinking
Blame Marissa Mayer for maternity-leave shrink

Chaos at Budapest train station as migrants rush trains
Syrian refugees reach Norway — via the Arctic

Dovish Draghi signals ECB willing to do more QE

Video: Watch China’s 90-minute military parade in 60 seconds
Watch China’s    90-minute parade in 60 seconds
Xi talks peace, but China parade flexes power
China markets close for war anniversary

Tom Brady's 'Deflategate' suspension overturned by judge, AP reports
Tom Brady’s ‘Deflategate’ suspension overturned
The real Deflategate verdict? NFL’s in trouble

Donald Trump tells Kareem Abdul-Jabbar: ‘You don’t have a clue about life’
Trump’s new feud is with Kareem Abdul-Jabbar

The flat tax and two other policies that separate Ben Carson and Donald Trump
3 policies that divide Ben Carson, Donald Trump

Caroline Baum: No one knows what Trump would do as president, but it’d be great!
What Trump would do as president: It’d be great

Trump, Clinton play liar’s poker: Delamaide

These are the college majors that are dying

They tangled with student debt all summer
College help for low-income families

As investment risk has changed, so should investors’ portfolios
Investment risk has changed, so this must change too

The search for 1,000 angels to help women create startups
The search for 1,000 angels to help women startups

43% of U.S. homes are at high risk of natural disaster
43% of U.S. homes are at high risk of natural disaster

Why the British Hugo Chavez will be good for the economy
Why the U.K. Hugo Chavez will be good for its economy

Bill Gross calls a Fed rate hike ‘too little, too late’
FDIC chief: Rates may catch banks off-guard
Junk-bond stress level climbs to 5-year high

Why India is worth a look if you’re cooling on China

History’s lessons in surviving market crashes

Apple’s biggest challenge: Topping the iPhone 6
Apple set to join content contest
What to expect from the Apple event on Sept. 9

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43.77MDow Volume:
Avg Vol: 113.01M
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198
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2095
Advancers
4133
Price Chg %Chg 1 Day
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Dow
/quotes/zigman/627449/realtime 16,457 +106 0.65%
Nasdaq
/quotes/zigman/12633936/realtime 4,766 +16 0.33%
S&P 500
/quotes/zigman/3870025/realtime 1,961 +13 0.65%
GlobalDow
/quotes/zigman/629063/realtime 2,332 +19 0.80%
Gold
/quotes/zigman/662444/delayed 1,124 -10 0.89%
Oil
/quotes/zigman/2331095/delayed 46.25 0.00 0.00%
FTSE 100
/quotes/zigman/3173262/delayed 6,194 +111 1.82%
DAX
/quotes/zigman/2380246/delayed 10,318 +270 2.68%
CAC 40
/quotes/zigman/3173214/delayed 4,654 +99 2.17%
FTSE MIB
/quotes/zigman/1482176/delayed 22,177 +565 2.62%
IBEX 35
/quotes/zigman/2759620/delayed 10,042 +104 1.05%
Stoxx 600
/quotes/zigman/2380150/delayed 362 +8 2.37%
Asia Dow
/quotes/zigman/6959860/realtime 2,714 +11 0.40%
Nikkei 225
/quotes/zigman/5986735/delayed 18,182 +87 0.48%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,765 +311 1.22%
Singapore
/quotes/zigman/1709939/delayed 2,906 +28 0.98%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 -0.01 0.96%
Yen
/quotes/zigman/16008150/realtime/sampled 120.02 -0.31 0.26%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.33%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.13%
DXY Index
/quotes/zigman/1652083/delayed 96.45 +0.47 0.49%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.80 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 -0.02 0.93%
German 10y
/quotes/zigman/15866409/realtime 0.73 -0.06 7.14%
Italy 10yr
/quotes/zigman/15866497/realtime 1.92 -0.07 3.70%
Spain 10yr
/quotes/zigman/15866444/realtime 2.11 -0.04 1.85%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.80 -0.02 0.97%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.00 0.13%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.00%
Gold
/quotes/zigman/662444/delayed 1,124 -10 0.89%
Corn
/quotes/zigman/7599553/delayed 362 -6 1.50%
DJIA F
/quotes/zigman/38649152/delayed 16,432 +102 0.62%
S&P F
/quotes/zigman/30356461/delayed 1,959 +11 0.59%
Silver
/quotes/zigman/3134148/delayed 15 0 0.15%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.23 -0.66 -0.73%
AAPL /quotes/zigman/68270/composite 111.34 -1.00 -0.89%
GOOG /quotes/zigman/30194416/composite 611.49 -2.85 -0.46%
BAC /quotes/zigman/190927/composite 16.01 0.16 0.98%
C /quotes/zigman/5065548/composite 52.26 0.51 0.99%
F /quotes/zigman/264304/composite 13.89 0.02 0.14%
T /quotes/zigman/398198/composite 33.13 0.31 0.93%
BP /quotes/zigman/247026/composite 32.49 0.29 0.89%
GE /quotes/zigman/227468/composite 24.77 0.20 0.81%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Student Debt: What the Fed Report Misses

A Federal Reserve report released Tuesday shows Americans are on the hook for $471 billion in federal student loans. If only the true number were that small.

As college tuition continues to rise, students and their parents have been signing up for federal student loans at a rapid pace. By the end of September, borrowers are expected to owe a whopping $840.5 billion in federal student loans, according to an analysis of federal budget data by FinAid.org. That’s up 10% from a year prior. Tack on capitalizing interest—most borrowers don’t start paying back these loans right away and in most cases interest continues to accrue—and the figure balloons even higher.

Why the discrepancy between the two reports? The Fed’s report includes just the federal loans that have been distributed by the Department of Education. But before July 2010, banks and other private lenders were providing federal student loans to borrowers as well—of which there’s still about $346 billion that borrowers are still paying back. A provision in President Obama’s health care law ended this program, making the federal government the only distributor of federal student loans.

Student-loan debt isn’t just growing—it’s following borrowers later into life and wrecking havoc on their retirement. As we reported today, the federal government is increasingly docking Social Security benefits for retirees who’ve fallen behind on their student loans. There have been roughly 115,000 cases so far this year, up from just six in 2000, according to the Treasury Department.

Experts say the trend will likely intensify. Sixty-six percent of the Class of 2012 graduated this spring with debt, and their student loans averaged $28,720, up from $9,320 in 1993, according to FinAid.org.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 21)

View all Comments »
    • Rulers of this world (aka bankers) want you to borrow money that they create out of nothing and they want you to pay them interest for a lifetime, essentially making you a slave your entire life. Google for WEB OF DEBT KONDRATIEFF WAVE to understand why this system is not ideal for the average person.

      http://www.kondratieffwavecycle.com

    • How about putting some rules and limits on the colleges to reduce costs for a change? They just raise tuition every year at rates that have far exceeded that of inflation, on the backs of students and parents, so that they can maintain their bloated salaries, benefits, pensions, and world-class facilities, athletic programs, etc. They keep building their empires with layer upon layer of administration…deans, assistant deans, chancellors, provosts, department heads, etc. all with their staffs and exorbitant resource consumption. I have worked with and known many University personnel over the years in my private sector job and have seen them retire at 55 with close to 100% of their income or more and the finest health care and other benefits provided for the rest of their life. It’s time we took a close look at the excessive compensation and benefits within the Universities as a place to cut fat and rein in automatic excessive tuition hikes and college costs. Sickening.

    • Kate with that line of reasoning why pay any debt off you accumulate over a lifetime. Grow up you are entitled to walk away from debt you incur period.

    • It is criminal to dock Social Security benefits for student loan payments!! If a person is retired, it’s over! The chance to recover that money borrowed is gone. Get over it America! It’s already bad enough you can’t discharge student loans in bankruptcy. http://www.postbankruptcyshop.com

    • i agree with many of the readers points however every parent and every student need to understand the risk of borrowing so much money with very little job guarantees. The students have to realize times have changed and they need to be more creative and have more flexibility with their educational needs. The student loan debt crisis will only get worse so make intelligent financial decisions for the future.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Close in:

need to know
When do markets close for Labor Day?
Netflix stock heads toward fifth straight loss
ISM services index slows, but tops forecast
Jobless claims rise to two-month high
U.S. trade deficit shrinks 7.4% to $41.9 billion
Europe markets rise | FTSE 100 heads for gain
L.L. Bean longtime CEO Leon Gorman dies
Treasury's Lew irked by China's FX move

Why maternity leave is shrinking
Blame Marissa Mayer for maternity-leave shrink

Chaos at Budapest train station as migrants rush trains
Syrian refugees reach Norway — via the Arctic

Dovish Draghi signals ECB willing to do more QE

Video: Watch China’s 90-minute military parade in 60 seconds
Watch China’s    90-minute parade in 60 seconds
Xi talks peace, but China parade flexes power
China markets close for war anniversary

Tom Brady's 'Deflategate' suspension overturned by judge, AP reports
Tom Brady’s ‘Deflategate’ suspension overturned
The real Deflategate verdict? NFL’s in trouble

Donald Trump tells Kareem Abdul-Jabbar: ‘You don’t have a clue about life’
Trump’s new feud is with Kareem Abdul-Jabbar

The flat tax and two other policies that separate Ben Carson and Donald Trump
3 policies that divide Ben Carson, Donald Trump

Caroline Baum: No one knows what Trump would do as president, but it’d be great!
What Trump would do as president: It’d be great

Trump, Clinton play liar’s poker: Delamaide

These are the college majors that are dying

They tangled with student debt all summer
College help for low-income families

As investment risk has changed, so should investors’ portfolios
Investment risk has changed, so this must change too

The search for 1,000 angels to help women create startups
The search for 1,000 angels to help women startups

43% of U.S. homes are at high risk of natural disaster
43% of U.S. homes are at high risk of natural disaster

Why the British Hugo Chavez will be good for the economy
Why the U.K. Hugo Chavez will be good for its economy

Bill Gross calls a Fed rate hike ‘too little, too late’
FDIC chief: Rates may catch banks off-guard
Junk-bond stress level climbs to 5-year high

Why India is worth a look if you’re cooling on China

History’s lessons in surviving market crashes

Apple’s biggest challenge: Topping the iPhone 6
Apple set to join content contest
What to expect from the Apple event on Sept. 9

/conga/frontpage.html 354072

Markets »

43.75MDow Volume:
Avg Vol: 113.01M
Unchanged
197
Decliners
2111
Advancers
4123
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,457 +106 0.65%
Nasdaq
/quotes/zigman/12633936/realtime 4,766 +16 0.33%
S&P 500
/quotes/zigman/3870025/realtime 1,962 +13 0.65%
GlobalDow
/quotes/zigman/629063/realtime 2,332 +19 0.80%
Gold
/quotes/zigman/662444/delayed 1,124 -10 0.88%
Oil
/quotes/zigman/2331095/delayed 46.25 0.00 0.00%
FTSE 100
/quotes/zigman/3173262/delayed 6,194 +111 1.82%
DAX
/quotes/zigman/2380246/delayed 10,318 +270 2.68%
CAC 40
/quotes/zigman/3173214/delayed 4,654 +99 2.17%
FTSE MIB
/quotes/zigman/1482176/delayed 22,177 +565 2.62%
IBEX 35
/quotes/zigman/2759620/delayed 10,042 +104 1.05%
Stoxx 600
/quotes/zigman/2380150/delayed 362 +8 2.37%
Asia Dow
/quotes/zigman/6959860/realtime 2,714 +11 0.40%
Nikkei 225
/quotes/zigman/5986735/delayed 18,182 +87 0.48%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,765 +311 1.22%
Singapore
/quotes/zigman/1709939/delayed 2,906 +28 0.98%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 -0.01 0.95%
Yen
/quotes/zigman/16008150/realtime/sampled 120.02 -0.31 0.26%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.33%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.11%
DXY Index
/quotes/zigman/1652083/delayed 96.45 +0.47 0.49%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.80 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 -0.02 0.93%
German 10y
/quotes/zigman/15866409/realtime 0.73 -0.06 7.14%
Italy 10yr
/quotes/zigman/15866497/realtime 1.92 -0.07 3.70%
Spain 10yr
/quotes/zigman/15866444/realtime 2.11 -0.04 1.85%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.80 -0.02 0.97%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.00 0.13%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.00%
Gold
/quotes/zigman/662444/delayed 1,124 -10 0.88%
Corn
/quotes/zigman/7599553/delayed 362 -5 1.43%
DJIA F
/quotes/zigman/38649152/delayed 16,435 +105 0.64%
S&P F
/quotes/zigman/30356461/delayed 1,959 +12 0.60%
Silver
/quotes/zigman/3134148/delayed 15 0 0.15%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.08 -0.81 -0.90%
AAPL /quotes/zigman/68270/composite 111.42 -0.92 -0.82%
GOOG /quotes/zigman/30194416/composite 611.49 -2.85 -0.46%
BAC /quotes/zigman/190927/composite 16.00 0.15 0.95%
C /quotes/zigman/5065548/composite 52.14 0.39 0.75%
F /quotes/zigman/264304/composite 13.90 0.03 0.22%
T /quotes/zigman/398198/composite 33.13 0.31 0.93%
BP /quotes/zigman/247026/composite 32.50 0.30 0.93%
GE /quotes/zigman/227468/composite 24.66 0.09 0.37%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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