Defaulting on federal and private student loans can result in negative personal and financial consequences. For most borrowers there is no escape from education debt.

Ebook readers work well for pleasure reading, but need some improvements in usability before they will be able to replace textbooks on a widespread basis. The potential cost-savings are more limited than most people expect.

The U.S. House of Representatives passed legislation replacing the federally-guaranteed student loan program with 100% direct lending from the federal government. Savings will go to increase the Pell Grant program.

The financial value of a college education outweighs the cost even when one considers the cost of attendance, the interest on education debt and the opportunity cost of skipping several years of income from a job.

The interest rates on variable-rate federal education loans (loans originated before July 1, 2006) will be dropping to new historic lows on July 1, 2009. Students should wait until July 1, 2009 to consolidate these loans to lock in the new low rates.

Income-based repayment bases a borrower's monthly federal student loan payments on a percentage of discretionary income instead of debt. This new repayment plan becomes available starting July 1, 2009.

Most personal finance experts recommend saving 3-6 months salary in liquid form for use only in emergencies. Should you have a bigger emergency fund during a recession?

Finaid.org's Mark Kantrowitz weighs in on some timeless classics and recent publications for learning about stock markets, saving, investing and the dreaded D-word: debt.

Finaid.org's Mark Kantrowitz combs his bookshelf for greatest hits on starting out after college, living well and landing a great job.

Gone are the days of a new car for college graduation. Give your grad friend a swift kick in the pants and a good money book for their backpacking trip through Europe. They are going to need the advice if they plan to spend money at all.