College Finance

With student loan default rates rising due to persistently high unemployment rates, it's easy to vilify the seemingly endless monthly payments that follow graduation. But take a closer look, and you'll find that the news about student loans is more good than bad.

President Barack Obama called Friday for an overhaul of the higher education financial aid system, warning that colleges and universities that fail to control spiraling tuition costs could lose federal funds.

I know what a daunting task it is to pay for college. But it's not impossible -- even on a paperboy's income. I did it, and hopefully some of what I learned on the route to college graduate will help inspire you, your kids, or your local paper carrier.

Recognizing the tight financial situation many American students and their families are facing, a growing number of private and public colleges are offering discounted tuition in an effort to attract more students.

For years, U.S. college students have been told that some majors are one-way tickets to "Would you like fries with that?" But in China, educational officials aren't just warning students away from those majors -- they plan to trim or cut them altogether.

Two Yale professors have proposed an interesting solution to the nation's oversupply of lawyers. Have law schools offer tuition refunds to first year students if they quit. The National Association of Law Schools, not surprisingly, rejected the idea.

Recent graduates from private colleges and universities walked away from commencement with an average of $28,100 in student debt, according to The College Board. But not every school leaves its alumni so far in the hole.