Smart Borrower Blog

Archive for September, 2015

Recent Grad Default Rates on the Decline

Sep 30th, 2015 @ 7:13 PM by Amber Nelson

Recent college graduates with student loan debt have better repayment rates than previous cohorts, according to new data from the U.S. Education Department. The Department measures how many student loan borrowers become seriously delinquent (no repayments within 360 days) on their debts within three years of graduation or dropping out of school. This grouping is called […]

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PayDay Loan Complaints Sink in Third Quarter

Sep 23rd, 2015 @ 8:40 PM by Amber Nelson

While often targeted by regulators as predatory, payday loans are actually facing fewer criticisms from consumers, according to a recent government report. The Consumer Financial Protection Bureau’s Monthly Complaint Report  found that complaints regarding payday loans showed the biggest decrease of any loan category over the past year. In fact, it was the only loan […]

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First and Second Mortgage Defaults Inch Up in August

Sep 16th, 2015 @ 6:45 PM by Amber Nelson

Primary and secondary mortgages saw an increase in defaults in August, according to the S&P/Experian Consumer Credit Default Indices. The default on the first lien mortgage rose to 0.84 percent, up from 0.80 percent in July. Compared with the previous year, defaults were actually down however from 0.91 percent. Second lien mortgage defaults increased to […]

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Cleveland Fed: Online Lender Options Confuse Small Business Owners

Sep 9th, 2015 @ 12:25 PM by Amber Nelson

A new category of loans are available today to small business owners: online alternative loans, but an overwhelming number of entrepreneurs are not yet confident in their ability to evaluate the cost of this funding, according to a new study from the Federal Reserve Bank of Cleveland. “Online alternative lenders are reporting rapid growth and […]

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One-third of Millennials Shun Credit Cards

Sep 2nd, 2015 @ 7:04 PM by Amber Nelson

America’s youngest adults are mishandling credit cards, with many applying for too many, some applying for the wrong kinds and many not applying for any at all. The result is that the millennial generation has the lowest average credit score of any age group. A new report from credit-card comparison website NerdWallet found that millenials – […]

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