The Survive and Thrive Boomer Guide

Nearly half of students leaving college, trade school owe at least $20,000, double the amount 10 years ago

More than 40 percent of student loan borrowers leaving college or trade school owe at least $20,000, double the share of borrowers a decade ago. In addition, more borrowers are taking out student loans later in life, and fewer borrowers are paying down their student debt in five years

“The bureau’s research shows that people are taking on more student debt later in life and having a tougher time paying it back,” said Richard Cordray, director of the Consumer Financial Protection Bureau, the agency that conducted the research.

Record student debt and associated borrower stress is causing more employers to offer student loan repayment benefits to their employees, according to a separate bureau report, also released Wednesday. This report features recommendations to help employers and other companies that manage benefits programs ensure that borrowers receive the maximum value.

Uber settles FTC charges it failed to protect driver’s data and consumers’ privacy

Photo: Hipsta.space

Uber has agreed to settle Federal Trade Commission charges it abandoned its promises to take reasonable steps to protect consumers’ personal information and to make sure that Uber employees only accessed consumer information for appropriate business purposes.

The FTC’s lawsuit alleges that Uber’s failure to provide reasonable data security allowed a hacker to access personal information about Uber drivers in May 2014. The information included more than 100,000 drivers’ names and license numbers. Uber has notified the affected drivers. The lawsuit alleges that Uber could have taken reasonable, low-cost measures that could have helped the company prevent the breach.

The FTC’s complaint also charges that Uber failed to live up to its promise to monitor driver and rider accounts for unauthorized access by Uber employees. Uber announced it would closely monitor and audit access to personal information in November 2014, after news reports alleged that Uber employees – without job-related reasons – were checking people’s trip records and other private information. The FTC alleges that Uber stopped the monitoring program months after starting it and then, for almost a year, didn’t follow up on warnings about improper access to people’s private information.

How to reduce stress

It’s been a stressful week. Everyone who hasn’t felt it this past week, please raise your hand. To avoid stress, you would first have to totally avoid all news sources, Laura Lee Carter blogging at the Adventures of the Adventures of the New Old Farts tells us. We have had a virtual smorgasbord of hate and violence both nationally and internationally this week, Carter says. Take your pick.

What are boomer bloggers writing about in these stressful times? Reducing stress by taking photos, reading, watching movies, gardening, doing yoga, and visiting with friends; an easy sleeping remedy that works every time; back-to-school shopping tips; why people blog; and countdown to the 2002 presidential election.

Carter provides the links to these articles in the Best of Boomer Blogs #510. Click here to read her article.

And be sure to join in the conversations. Boomer bloggers love to hear from readers.

Copyright 2017, Rita R. Robison, Consumer Specialist

ATVs recalled by Kawasaki due to fire hazard

Kawasaki is recalling 15,000 all-terrain vehicles.

The fuel tap can leak, posing a fire hazard.

The firm has received 18 reports of fuel leakage from the fuel tap. No injuries have been reported.  

This recall involves 2013-2017 KFX50 and 2012-2017 KFX90 Kawasaki ATVs.

Can you save money shopping at outlet stores?

Photo: rickpilot_2000

It’s time for back-to-school shopping, and to save money you may thinking about shopping at an outlet mall. But, do outlet stores offer real bargains?

Outlets can offer a good deal, but to get real savings, you have to know what they’re selling – and what you’re buying, said Colleen Tressler, consumer education specialist for the Federal Trade Commission.

Here are tips from the FTC to help you get the most for your money:

Don’t buy these back-to-school items early

It can pay to get a head start on back-to-school sales if you want to avoid crowds and save money. But sometimes it's better to wait until the rush dies down

Here are seven back-to-school items you should probably wait to buy from DealNews.com:

Jeans

If you're searching for the best deals on jeans, wait for fall. By then, retailers should have lots of denim remaining from back-to-school inventory. Expect to see discounts of up to 75 percent at department stores and discount retailers. Some online retailers also offer free shipping. If you're lucky, you could find buy one, get one deals on jeans from labels such Levi's, American Eagle Outfitters, and Lucky Brand.

Nationwide to pay $5.5 million in settlement for data breach negligence

Photo: Nick22aku

Nationwide Mutual Insurance Co. has agreed to pay $5.5 million to settle charges related to an October 2012 data breach that resulted in the loss of the personal information of about 1.27 million consumers. 

The data breach was caused by the failure to apply a security patch to prevent hacking or viral infection, according to the settlement with 33 state attorneys general. The breach included Social Security numbers, driver’s license numbers, credit scoring information, and other personal data collected to provide insurance quotes to consumers applying for Nationwide insurance plans.

“Nationwide demonstrated true carelessness while collecting and retaining information from prospective customers, needlessly exposing their personal data in the process,” said New York Attorney General Eric Schneiderman.

It’s not your parents’ retirement anymore

The mind doesn’t slow down in retirement. It just focuses on different things – some of them are simply fun, while others run to deeper issues regarding health, retirement, and the course of our lives.

Tom Sightings of Sightings Over Sixty tells this as he looks at the articles submitted by baby boomer bloggers this week.

Boomer bloggers are writing about a different perspective on the current aging model that most of us unconsciously believe in, how expressing fears and feelings can support healing, what to do if you’re taking too many prescription drugs, the rural-urban perspective, and the anniversary of one of the most popular TV shows in history.

 Go to the Best of Boomer Blogs #509 to find the links to these articles. And be sure to join in the conversations. Boomer bloggers love to hear from readers.

Copyright 2017, Rita R. Robison, Consumer Specialist

iPhone cases made by MixBin recalled due to skin irritation and burns

MixBin Electronics is recalling about 263,000 Liquid Glitter iPhone cases in the United States, 11, 400 in Canada, and 400 in Mexico.

Twenty-four reports have been received worldwide of skin irritation or chemical burns, including 19 in the U.S. One consumer reported permanent scarring from a chemical burn and another consumer reported chemical burns and swelling to her leg, face, neck, chest, upper body, and hands.

This recall involves all liquid glitter mobile phone cases for iPhone 6, 6s, and 7. The cases contain liquid and glitter that are floating in the plastic case. They were sold in various styles and colors and measure about 5.5 inches by 2.75 inches. The model number and UPC can be found on the product’s packaging.

Consumers support financial watchdog agency, poll shows

A new poll conducted by Democratic and Republican pollsters shows consumers support the Consumer Financial Protection Bureau. Likely Republican, Independent, and Democratic voters support protections that restore fairness and competition in the marketplace and rein in Wall Street.

Similar attitudes have also been found in the U.S. Public Interest Research Group’s door-to-door campaign to defend the bureau in a dozen cities across the country.

“Reining in Wall Street is not a left-right issue,” said Mike Litt, consumer advocate for the U.S. PIRG. “It’s a big guy-little guy issue. That’s why tens of thousands of Americans from coast to coast have readily signed petitions to defend the CFPB when we knock on their doors.”