By Sharon Epperson, CNBC.com
Bank of Mom & Dad has tightened its lending practices As the cost of college continues to rise, many students are finding even the Bank of Mom & Dad has tightened its lending practices.
A new study reveals parents aren't footing as much of the college bill as they have in the past, shifting a greater portion of the financial burden to their children.
Parents funded only 28 percent of college costs from their savings and income in the 2011-2012 academic year, down from 37 percent in 2009-2010, according to a joint study released Monday by Sallie Mae, the nation's largest student loan company, and market research firm Ipsos.
Meanwhile students covered an increasing share of college costs, paying 18 percent of those costs through borrowing and 12 percent from income and saving, according to the study.
The shift has been even more acute in affluent families. Two years ago, parents reached deeply into their savings and investment accounts to meet the higher costs of college. But that level of spending proved
Blog Posts by CNBC
By Sharon Epperson, CNBC.comRead More »from How High Earners Afford College: Let the Kids Pay
By Stacey Widlitz, Special to CNBC.comRead More »from Nordstrom One Ups Neiman, Teams with Topshop
Retail Consultant and Independent Analyst
Topshop and Nordstrom announced live on CNBC they are teaming up. While Sir Philip Green has already put a stake in U.S. ground he intends to continue bringing British fashion to the U.S. in the form of 15 to 20 flagship stores over time.
Topshop and Nordstrom are teaming up. Nordstrom will bring us a taste of the fast fashion retailer starting this fall. In September, 14 Nordstrom stores will roll out the Topshop brand, including some exclusive products. Fast fashion is here to stay and the retailers who cannot keep up have reason to worry about those who can offer fresh product on a weekly basis (Zara, H&M, and Topshop). No surprise that group continues to beat expectations in a tough environment.
Interesting timing, as only yesterday the uber high-end Neiman Marcus announced a deal to collaborate with Target on product from 24 designers. The uber high-end luxury retailer and the discounter combination doesn't exactly sound like a perfect
By Scott Cohn, CNBC.comRead More »from America’s Best States to Live In
Top States for Quality of Life
The best places to do business are also the best places to live. At least that's how many states market themselves to the public. CNBC's Top States for Business study found quality of life is among the most frequently mentioned selling points in state economic development campaigns. That's why quality of life is one of the most important categories in our study of America's Top States for Business, worth 350 out of 2,500 possible points.
Sure, quality of life is in the eye of the beholder. Some people would rather live in the city; others prefer the country. Some love sunshine year round, others like four seasons. But there are plenty of objective measures most of us can agree on when it comes to a quality place to live.
We scored the states on several factors, including local attractions, the crime rate, as well as air and water quality and pollution. We looked at access to recreational areas. And we
By Robert Frank, CNBC.comRead More »from Guys, Would You Stress Over a Millionaire Wife?
Having a spouse who makes lots of money might seem like a good thing. But according to a new study of millionaires, wealthy households with a female breadwinner are filled with potential problems.
Why are women-led millionaire households especially stressed? The study, conducted by SEI and Phoenix Marketing, found that a third of the women who are the financial leads in millionaire households say their partner feels "stressed" by their financial roles. By contrast, only 14 percent of males in male-led millionaire households said they feel tension from their partner.
"When you're dealing with relationships and money, stress is a given, and when a woman is the primary wealth creator the survey shows it's even greater," said Michael Farrell, Managing Director for SEI Private Wealth Management.
Sources of financial tension might include spending decisions, savings decisions and investment decisions.
The top sources of tension in all wealthy households were kids and money, along with control and charitable giving.
- CNBC | At Home – Mon, Jul 9, 2012 2:06 PM EDT
By Jane Wells, CNBC.comRead More »from Want a 24K Gold Vacuum? it Will Cost You Only $999,999
Only some of you will understand the following sentence.
24K Gold Vacuum? A good vacuum cleaner is a girl's best friend.
You either appreciate a vacuum that works, gets rid of stubborn dirt, doesn't scar things up, doesn't small like an old bag of dust, and moves easily … or you don't.
Oh man, just thinking about it makes me happy.
So imagine my delight as I discover my dream come true.The Go Vacuum GV62711 is a vacuum cleaner so awesome, it has its own hip hop song. "Yeah, Go Vacuum, number one, baby," croons the rapper, "you gotta see it to believe it."
What's so special about this vacuum cleaner? "High-performing 10 amp motor, 14" wide cleaning nozzle with wooden roller brush, anti-marring urethane wheels, lightweight at just under 16 pounds." Oh yeah, it's also plated in 24k gold ... and costs $999,999. Who is the target audience? "Those who simply can," says the Go Vacuum website. That's you, Kanye.
Go Vacuum says it's only making 100 of the million dollar cleaners -
By Phil LeBeau, CNBC.comRead More »from Hiring Now: Welders Wanted, Women Welcome
While millions across the country struggle to find a job, a small but growing number of women are turning to manufacturing and welding jobs for a paycheck.
Skilled welders are hard to come by in Florence, Ky. "I get a lot of questions like, 'Why would you want to weld?'" said Anna Wild, a welder at the Wyoming Machine Company in Stacy, Minnesota. "The way that they ask me it's like why would you want to do that."
For Anna and millions of women in manufacturing, the idea of putting on a welding mask or forging steel is a no brainer. These are high paying jobs requiring a skill that is in demand.
Still Fighting Sexism in the Plant
Right now, 27 percent of the 11.96 million manufacturing jobs in the U.S. are held by women. That's a slight decline from a few years ago when the recession (What's This? Find Out Here) hit.
Historically, the percentage of woman in manufacturing has been between 25 percent and 35 percent.
While attitudes on shop floors have improved dramatically over the last 30 years, it's still an
By Katie Little, CNBC.comRead More »from Ka-Ching! Average Woman's Spending Tops $100,000
It sounds like more women are channeling Carrie Bradshaw's quote, "I like my money right where I can see it - hanging in my closet."
Six-figure wardrobes have retailers clamoring for a piece of the shopping action. According to a new poll from Sure Women Linen Dry, the average British woman spends with "Sex and the City" enthusiasm to the tune of around $103,000 during her lifetime.
Shelling out a cool six digits translates to an average of 271 pairs of shoes, 185 dresses and 145 bags. Despite this, 60 percent reported they sometimes felt the pangs of having nothing to wear to work or an evening out.
The damage for women under the age of 25, who fall into the Millennial generation, is even greater at around $160,000 over the years. Retailers see a potential windfall in these high spenders.
Recently, many companies, including Gap and Macy's, have ratcheted up their marketing toward Millennials, who lack the etched-in-stone brand preferences of older generations.
But this picky (and financially struggling) demographic has not been an
By Brian A. Shactman, CNBC.comRead More »from The Big Business of Divorce
Every year in the United States, there are one million divorces. In many respects, that's two million people beginning life anew.
What's more, about 67 percent of second marriages end in divorce, and the percentage is even worse for third marriages.
The need for everything - from lawyers to therapists to movers - is astounding. As morbid as it may sound, in the business world, that would be considered a big market.
"If you think about the bridal industry, it's a $2 billion industry," said Francine Baras, co-founder of Start Over Smart, an expo business that brings together services for the newly divorced. "No one has a number for the amount of money that is probably in the divorce industry.
[Related: World's Biggest Divorce Settlements]
"And not only is the market underserved, it has not actually been looked at as a niche."
Businesses want to serve this consumer need, but do it without amplifying the label of "divorce", which still
By Jane Wells, CNBC.comRead More »from California Says Au Revoir to Foie Gras
"I never thought I'd see the day when I can smoke pot in California but not eat foie gras."
That was a comment from a man who paid $65 earlier this month to attend a party in San Francisco pairing foie gras with fine wines.
Ducks in California rejoice! The Golden State new foie gras law prohibits fowl from being force fed. The party was supposed to be a secret farewell to a food banned for sale and production in the Golden State as of July 1.
However, animal rights activists discovered its location and set up a protest outside, shouting, "Helpless ducks are force fed!"
The party was thrown by Laurel Pine, owner of Mirepoix USA, an online seller of fine foods.
"Foie gras is probably about 40 percent of our business," she says. Pine's business used to be based in the San Francisco Bay Area, but she has decamped to Reno, Nevada, because of the upcoming ban.
"I think it is the beginning of an agenda to really limit what people eat, and to try to change people's eating habits to not eat meat."
The bill, passed in 2004, gave the industry eight years to adapt
By Karen Elowitt, CNBC.comRead More »from Arrive Refreshed: Strategies for Long-Haul Flying
Being able to fit in a few hours of sleep on a long-haul flight can mean the difference between arriving at your destination feeling like a deranged zombie, or a coherent member of the human race. Factors such as temperature, seat pitch and light levels can all affect your ability to get adequate shut-eye.
Being able to sleep, can make or break a long-haul journey. The new Boeing 787 Dreamliner caught some criticism recently from All Nippon Airways for having dimmable windows that apparently do not get dark enough for some fliers' tastes - especially when trying to sleep during daylight hours. The windows, which do not have pull down shades, darken. But they don't get completely opaque. (There's always that old standby, the eye mask, no?)
But other variables, besides being able to sleep, can make or break a long-haul journey. Road warriors who frequently have to make long treks from the U.S. to Europe, Asia, Australia or the Middle East know that advance planning is essential. Proper seat selection, clothing and