Economy

The high costs of student loan debt

MINNESOTA SPOKESMAN-RECORDER — For the Class of 2018, the average student borrower graduated with a debt of $29,800 in private and federal loans over the course of a bachelor’s degree. This is in addition to $35,600 in federal Parent PLUS loans approximately 14 percent of parents took out to support their children.

Published

7 years ago

March 24, 2019

Oakland Post

By MSR News Online

There’s no way around it: Americans are drowning in student loan debt. The Federal Reserve reports that nearly 50 million Americans collectively owe $1.5 trillion in student loan debt. That’s $521 billion more than the total U.S. credit card debt.

For the Class of 2018, the average student borrower graduated with a debt of $29,800 in private and federal loans over the course of a bachelor’s degree. This is in addition to $35,600 in federal Parent PLUS loans approximately 14 percent of parents took out to support their children.

Nearly 70 percent of student borrowers now have a looming bill over our heads each month — and it’s not cheap. The average monthly student bill is $393.

This is debt that’s impossible to discharge in bankruptcy, difficult to have forgiven and increasingly unlikely to be fully repaid on schedule. And, rising college costs mean that number isn’t likely to drop much in the next few decades.

Here’s a look at the costs of that debt and what’s being done to lessen the crisis.

The Direct Costs

While college costs are rising, family incomes have not. So those with student debt loans are making different money management choices. They are less likely to buy homes or start families, and more likely to live at home and take jobs just to make ends meet, instead of the more lucrative positions for which their degrees prepared them.

Short-term solutions include deferring loans by returning to school, or consolidating or borrowing from private lenders, which ends up making the problem worse. For students graduating into a tight job market whose credit ratings are impacted by the amounts they owe, loan debt can remain their chief financial concern for decades. Especially when 11.5 percent are delinquent on their payments.

What’s more, the expanding student loan bubble could rattle the entire American economy in similar ways to the 2008 housing crisis, if borrowers default on loans in large numbers.

The Hidden Costs

The direct costs of student loan debt are obvious, but hidden costs often prevent lower-income students from pursuing the highest-value degrees.

Because the most selective, prestigious institutions are also the most expensive, those institutions are disproportionately populated by students from affluent families able to afford the burden of early-career debt.

And the recent trend of “differential pricing,” in which tuition costs are dictated by a student’s field of study, has had an effect on enrollment in high-employment fields, potentially scaring off the students who could benefit the most from an in-demand degree.

Avoiding high loan debt

While there is no limit to the amount of “free money” students can apply for, scholarships and grants only cover 28 percent of college costs today. That means more than two-thirds of the bill is either borrowed or paid out of pocket (for, most it’s the former). If you’re still in school, explore all of your scholarship options — whether based on grades, special interests or even ethnic backgrounds. Every extra dollar counts.

Also, only take out as much as you need. While in school, it’s tempting to take the full loan amount offered to help cover other bills. But that extra $1500 or $2500 every semester adds up to extra debt once you’ve graduated or left school and will cost you more in the long run.

For those concerned that scholarships may affect financial aid, organizations like Scholarship America are mobilizing nationwide efforts to change that. The organization has lent support to efforts to create a network of postsecondary institutions, or Collegiate Partners, that agree to not punish scholarship recipients with reductions in financial aid. Scholarship American also has a Dreamkeepers Emergency Financial Assistance program that gives students facing unexpected expenses an alternative to loans.

“We work with partners to incorporate mentoring, tutoring and financial literacy education into scholarship awards in an effort to help students persist and graduate rather than drop out with debt or get stuck short of a degree,” said Scholarship American President and CEO Robert C. Ballard.

For those who have already accrued student loan debt, the best course of action is to tackle it head-on. Make a plan and work through it. Ignoring the bill won’t make it go away; in fact, it will just keep growing.

Information provided, in part by, StatePoint.

This article originally appeared in Minnesota Spokesman-Recorder.

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Advice

Women & Wealth: Tips for Navigating Your Lifelong Financial Journey

Published

4 days ago

March 15, 2026

Oakland Post

Sponsored by J.P. Morgan Wealth Management

We are in the midst of a seismic shift in wealth. This phenomenon, often referred to as the “Great Wealth Transfer,” describes the unprecedented movement of assets from the Baby Boomer generation to their heirs – an estimated $105 trillion by 2048. And women are poised to inherit most of this.

J.P. Morgan Wealth Management’s 2025 Investor Study found that women are not only set to receive significant wealth – they’re actively working to build it on their own. Ninety-three percent of women surveyed who are expecting an inheritance aren’t relying on it to reach their goals.

Here are a few tips for women to consider in their wealth-building journey:

Create a financial roadmap

A detailed, well thought out plan is important. J.P. Morgan’s study found that 90% of those surveyed with a plan feel confident about reaching their financial goals, compared to 49% without one.

Your plan should reflect your unique goals, priorities and circumstances. Consider your investment horizon and risk tolerance, and remember to revisit your plan regularly as life evolves.

Are you saving up for goals like buying a house, sending your kids off to college or retiring early? Where do you want to be in the next five, ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions and build a plan that is unique to your life.

Women tend to live longer than men on average. Many take career breaks or care for family members, which can influence long-term planning. It’s important to adjust your strategy with these factors in mind.

Where to start with investing

Don’t let misconceptions hold you back. Starting to invest doesn’t require a large sum, and beginning early can be beneficial. The earlier you start, the more time your money has to potentially grow over the years. Understand your overall financial situation, set clear goals and develop a long-term plan.

It’s important to also make sure you’re covered for unexpected expenses that come up before you start to invest. Build up a cash emergency fund, typically enough to cover three to six months of expenses, and pay down any high-interest debt.

Taking charge of your finances

The good news is that women are taking charge of their finances. J.P. Morgan’s research found that 75% of women respondents make financial decisions with their partner or take the lead themselves. For those who have a spouse or partner, it’s important for each person in the relationship to play an active role in the process.

Building wealth can be empowering for many women. The same survey found that 73% of women respondents said money gives them “security,” while 64% of Gen Z and Millennial women associated it with “freedom.”

The power of having a team

Some people find it helpful to work with a financial advisor, so you don’t have to tackle things alone. An advisor can help you craft a plan tailored to your needs and keep you on track throughout your lifelong financial journey. If you expect to receive an inheritance, you should also consult with estate planning and tax professionals.

No matter where you are on your wealth-building path, education is key. It’s so important to be an informed investor, and there are plenty of resources out there to help. You can find a library of free educational resources at chase.com/theknow.

As the landscape of wealth continues to evolve, women have a unique opportunity to shape their financial futures and those of generations to come. By staying informed and planning ahead, women have the tools to help them confidently navigate the Great Wealth Transfer and set themselves up for financial freedom.

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.  

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.  

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Activism

Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

4 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.

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Bay Area

CITY OF SAN LEANDRO STATE OF CALIFORNIA PUBLIC WORKS DEPARTMENT ENGINEERING DIVISION NOTICE TO BIDDERS FOR ANNUAL STREET OVERLAY/REHABILITATION 2019-21 – PHASE III

WORK DESCRIPTION: The work to be done consists of roadway paving, base cement stabilization, concrete curb ramps, driveways, sidewalks, curbs and gutters, traffic detection loops and pavement striping, and doing all appurtenant work in place and ready for use, all as shown on the plans and described in the specifications with the title indicated in Paragraph 1 above, and on file in the office of the City Engineer. Reference to said plans and specifications is hereby made for further particulars.

Published

4 weeks ago

February 20, 2026

Oakland Post

PROJECT NO. 2020.0050

BID NO. 25-26.011

BID OPENING: The bidder shall complete the “Proposal to the City of San Leandro” form contained in the Contract Book. The proposal shall be submitted in its entirety. Incomplete proposals will be considered non-responsive. Sealed bids containing the completed Proposal Section subject to the conditions named herein and in the specifications for ANNUAL STREET OVERLAY/REHABILITATION 2019-21 – PHASE III/PROJECT NO. 2020.0050 addressed to the City of San Leandro will be received at City Hall, 835 East 14^th Street, 2^nd Floor San Leandro at the office of the City Clerk up to 3:00 p.m. on Thursday, March 19, 2026, at which time they will be publicly opened and read.
WORK DESCRIPTION: The work to be done consists of roadway paving, base cement stabilization, concrete curb ramps, driveways, sidewalks, curbs and gutters, traffic detection loops and pavement striping, and doing all appurtenant work in place and ready for use, all as shown on the plans and described in the specifications with the title indicated in Paragraph 1 above, and on file in the office of the City Engineer. Reference to said plans and specifications is hereby made for further particulars.
OBTAINING THE PROJECT PLANS AND CONTRACT BOOK: The project plans and Contract Book may be obtained free of charge from the City’s website at:https://www.sanleandro.org/Bids.aspx Bidders who download the plans are encouraged to contact the City of San Leandro Public Works Department Engineering division at 510-577-3428 to be placed on the project planholder’s list to receive courtesy notifications of addenda and other project information. Project addenda, if any, will be posted on the website. A bidder who fails to address all project addenda in its proposal may be deemed non-responsive.Bidders may also purchase the Project Plans and Contract Book from East Bay Blueprint & Supply Co., at 1745 14^th Street, Oakland, CA 94606; Phone Number: (510) 261-2990 or email: ebbp@eastbayblueprint.com.
PRE-BID CONFERENCE: A mandatory pre-bid conference will be held on Tuesday, February 24, 2026, at 2:00 PM and on Wednesday, February 25, 2026, at 10:00 AM as follows:
Tuesday, February 24, 2026, at 2:00 PM
Zoom Meeting ID: 883 8752 6074
Passcode: 502955
Zoom Link: https://sanleandro-org.zoom.us/j/88387526074?pwd=hZ5rjB8AWdLAUem3CtByFiZxqKarHj.1
And
Wednesday, February 25, 2026, at 10:00 AM
Zoom Meeting ID: 898 2672 0472
Passcode: 091848
Zoom Link: https://sanleandro-org.zoom.us/j/89826720472?pwd=JgZX2nXMpLSRM5xDPr7EJUxl7QIznr.1The information presented at the conferences will be identical, all bidders must attend one of the pre-bid conference and sign the attendance sheet. A firm that didn’t attend the pre-bid conference isn’t qualified to bid on the project.Questions regarding the plans and specifications may be submitted in writing to the project engineer until 5:00 p.m. five (5) days before, excluding Saturdays, Sundays and Holidays, bids must be received by the City. The City will not respond to oral questions outside of the pre-bid conference. The response, if any, will be by written addendum only. Oral responses do not constitute a revision to these plans or specifications.
VALUE OF WORK: The Engineer has estimated that the value of work is between $1,000,000 and $5,000,000.
SAN LEANDRO BUSINESS PREFERENCE AND PARTICIPATION GOALS: The work performed under this contract is subject to Section 1-6-225 of the San Leandro Municipal Code regarding local business preference and participation. A list of companies that hold a San Leandro business license is located on the City webpage under the finance department, here: https://www.sanleandro.org/340/Business-License
SAN LEANDRO COMMUNITY WORKFORCE AGREEMENT: The work performed under this contract is subject to the Community Workforce Agreement adopted by City Council Resolution 2015-104. Contractors attention is directed to Section 10.

Dated: February 13, 2026 Sarah Bunting, City Clerk

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CITY OF SAN LEANDRO STATE OF CALIFORNIA PUBLIC WORKS DEPARTMENT ENGINEERING DIVISION NOTICE TO BIDDERS FOR ANNUAL STREET OVERLAY/REHABILITATION 2019-21 – PHASE III