It's critical to level the playing field, to make prices and risks clear up front, so when someone signs on for a student loan or a mortgage or a credit card, they know the tricks and traps hidden in the fine print. That's why the Consumer Financial Protection Bureau has been working on a new financial aid shopping sheet. A shorter, two-page credit card agreement, a simpler mortgage disclosure form. All those are aimed toward helping people understand the basic bargain.
Elizabeth WarrenGet your money in balance. One rule of thumb is 50/30/20. Spend about 50% of your money on must-haves - things like rent, car payments - and about 30% on wants, while 20% should go toward savings and paying down debt.
Elizabeth WarrenStudent loan debt is crushing young people. And so they're not doing the things we would expect them to do. They're not moving out of their parents' homes in as big a numbers, they're not saving up money for down payments, they're not buying homes or cars or starting small businesses or doing any of the things that help move this economy forward.
Elizabeth WarrenRefinancing won't fix everything that's broken with our [American] higher education system. We've got to bring down the cost of college. And we need more accountability for how schools spend federal dollars.
Elizabeth Warren