Thursday, May 23 2013 3:54 PM EDT2013-05-23 19:54:04 GMT
It took 51 years but 73-year-old Felix Vail is finally facing serious questions in the 1962 death of his wife Mary Horton. Felix claimed they were out checking trotlines on the Calcasieu River when MaryMore >>
It took 51 years to arrest suspect Felix Vail in the murder of his wife Mary Horton. KPLC's Lee Peck spoke to her brothers about the latest developments in the case.More >>
Thursday, May 23 2013 12:48 PM EDT2013-05-23 16:48:13 GMT
LSU guard Corban Collins has decided to leave the LSU basketball program."We have granted a release from LSU to guard Corban Collins," said head coach Johnny Jones. "We appreciate his hard work duringMore >>
LSU guard Corban Collins has decided to leave the LSU basketball program.More >>
Thursday, May 23 2013 11:55 AM EDT2013-05-23 15:55:08 GMT
(RNN) - Dozens of Cleveland restaurants have pledged to give the man who rescued three Ohio women from captivity, free burgers for life. Charles Ramsey, the guy who famously stopped eating his Big MacMore >>
More than a dozen of Cleveland restaurants have pledged to give the man who rescued three Ohio women from captivity, free burgers for life.More >>
Thursday, May 23 2013 4:35 PM EDT2013-05-23 20:35:23 GMT
A Columbia woman has been arrested after a child in her care died over the weekend.Margie Hamm, 34, was arrested and charged with homicide by child abuse, according to the Columbia Police Department.PoliceMore >>
A Columbia woman has been arrested after a child in her care died over the weekend.More >>
We all know how tough it is to find a job these days. But it's actually not as hard to find work if you have a college degree. According to the federal government, the unemployment rate for those with at least a bachelor's degree is only 4.1-percent. So it's no wonder parents are doing everything they can to send their kids to universities.
But the cost can literally be too high, putting the parents' retirement in danger.
A newly released study shows the number of households trying to pay-off college debt is at a record high --- one out of five households.
Jean Andes and her husband Mark Hilliard had the best of intentions when it came to saving for their kids' college. But it's not easy.
"It's hard to save when you're paying the mortgage and your utilities," Jean said.
So when their daughter, Kayla, and their son, Ian, went off to school they had to take-out loans to send them to college because scholarships didn't pay nearly what the tuition cost. Two four-year degrees for their kids added-up to $120,000 worth of debt.
"It cost us about as much to borrow to put our two children through college as it did to buy our house," Mark said.
They're part of a growing number of Americans facing massive loan amounts to help their kids cover college costs.
"There's an increasing trend with people who are age 40-50 having the fastest growing amount of student loan debt outstanding," said Mark Kantrowitz of FinAid.org.
He points out it's typically not debt from the parents' undergraduate degrees that they owe but other loans.
"Parent PLUS loans, (loans) from their graduate education, and from cosigning on private student loans," Kantrowitz said.
The amount borrowed for Parent PLUS loans, which are offered through the federal government, has doubled in the last decade. The average balance is now $34,000. More parents than ever are now borrowing for their children's educations. With the cost of college rising steeply, the average amount of debt the parents are taking on is also growing.
"It's the only form of federal education loans that doesn't have an annual or aggregate loan limit," said Kantrowitz.
The Great Recession changed an important factor in these loans, too. Fewer students can now get loans on their own.
"Before the credit crisis about half of all student loans required cosigners," he said. "In the aftermath of the credit crisis and today, more than 90% of new private student loans require cosigners."
Jean and Mark cosigned for their kids. They hope to have everything paid off in seven to ten years.
Kantrowitz stresses parents shouldn't cosign for or take out loans that will take longer than 10 years to pay off.
"If they're borrowing more than that, it's going to eat into their retirement," said Kantrowitz.
And even though they have no regrets, Jean and Mark admit this debt is making a dent in their lifestyle.
"Now that the kids are gone, we could do more traveling if we didn't have the student loans to pay," said Hilliard.
Katrowitz makes a point of telling parents and students to only borrow what they really need. There's a tendency to borrow to the loan limit and that isn't always necessary.
Kantrowitz's website has a financial calculator you can use that will estimate the likely monthly payment you'll have to make for a student loan. And it'll also show you how much money you'll need to make each year to pay it off.
Forbes Magazine released the Top 10 most dangerous U.S. cities. Check out which cities made the list.More >>
While most violent crimes dropped by 10 percent in the U.S., the national average is five times the rate it was in 2011. Forbes Magazine released the Top 10 most dangerous U.S. cities. Check out which cities made the list.More >>
The Cincinnati Zombie Walk was a great opportunity to take participants minds out of day-to-day routines, right around the time from Halloween events.More >>
The Cincinnati Zombie Walk was a great opportunity to take participants minds out of day-to-day routines, right around the time from Halloween events. It also helped support the Free Store Food Bank by asking participants to donate canned goods.More >>