Veteran journalist Carl Hoffman believes he’s solved one of the great mysteries of the 20th century. In 1961 at the age of 23, Michael Rockefeller – son of New York Governor Nelson Rockefeller and a member of one of the richest and most powerful families in America ¬– travelled to remote New Guinea in search of primitive art for his father’s new museum.
Short-term lending, or payday lending, is a multi-billion dollar industry. Fifteen million Americans used the service just last month. But high interest rates have caught the eye of critical federal and state regulators. Now the payday lending industry is spending $10 million on a public awareness campaign to educate people about using short-term loans.
The cost of a college education is rising faster than inflation and faster than the median income for families likely to have college-aged children. To pay the bills, an increasing number of students and families are turning to loans, and the cost of those loans is about to take a big jump.
State colleges and universities in Ohio are in the process of raising tuition and related costs for the coming school year. Meanwhile, Students and their families are sharpening their pencils and trying to figure out how to pay the higher education bills.