Your little bundle of joy could start life off deeply in debt and you might not even know it. Here is how to protect the ones you love.
How financial concepts are presented can have a big impact on how people feel about their bank statement. In August, Credit Karma surveyed over 1,000 people about their reactions to two descriptions of adjustable rate rules. Their responses were highly correlated with their attitudes toward money and their credit score. In short, the closer the fine print was to language they would use to talk to their friends, the more likely they were to find it not just helpful, but trustworthy. This was particularly true for those with lower credit scores who were more negative about financial disclosures overall.
The CARD Act went into effect in 2009 as a way to protect college students and their credit scores from the danger of too easy debt sweetened by branded swag. The results have been dramatic and part of a larger trend in the credit industry.
Americans are shopping again and they are increasingly charging it. Growth in credit card and auto loan debt added to the $35 billion increase in aggregate household debt for a total of $12.29 trillion at the end of June according to government reports.
A new change to the process of applying for federal financial aid could lead students to make smarter choices when borrowing for college. Starting this year, the Free Application for Federal Student Aid (FAFSA), which was previously available for students and their families to fill out in January, is available starting October 1.
This summer, we welcomed our 2016 intern class to help out in a variety of different departments at Credit Karma. Our interns play a vital role in the success of our mission to make financial progress possible for everyone. Our interns bring new insight and a fresh perspective and we value their daily contributions!
Major security breaches have become too common of a story, with retailers and websites hacked with alarming frequency. It has become so common that it can often take a fairly egregious breach – think SONY in 2014, or Target in 2013 – for something to become a high-profile news story. It also comes with a high price tag.
Majority of those with student debt are carrying $10,000 to $50,000 for their educational experience and many are making extra payments or refinancing to manage the burden.
It turns out having clean air and water is something almost everyone can agree is important. The majority in a recent Credit karma survey ranked the environment as very or extremely important and some segments found it even more important than others.
A new survey by Credit Karma finds that contrary to trending criticisms, young people really are interested in “adulting” in pretty traditional ways. They are getting married and buying homes and cars in large numbers. Urban, suburban and rural 18-34 year-olds are starting families and using credit cards.