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In the year 2017 Americans saw the federal student debt rise to $1.48 trillion, surpassing credit card debt. Each of the 44 million borrowers were estimated to have graduated with $37,142 in student debt. Once graduated, Americans have to face the task of repaying these loans; a task that can last well into their forties. … Continue reading

Outside of banking circles, the Rule-of-78′s is little understood, even though it is commonly applied to many consumer and business loans. For the borrower, it tends to have a pernicious effect in the nature of a hidden prepayment penalty. The borrower’s disadvantage is heightened by the fact that the operation of the Rule-of-78′s is often … Continue reading

According to the Urban Institute, originations for first mortgages totaled $1.8 trillion in 2017. In addition, NADA (National Automobile Dealers Association) reports that in the United States, the nation’s 16,802 franchised dealers sold 17.14 million new vehicles in 2017, and total new-vehicle sales topped $1 trillion. If as in years past, approximately 70% of these … Continue reading