Your weekly money scoop: September 9, 2016

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Your weekly money scoop: September 9, 2016


We're serving you our weekly bite-sized roundup of the stories you need to know.

This week, find out how a daily stroll could keep more cash in your wallet, learn some money lessons from pro athletes and get the lowdown on what Clinton and Trump have to say about student debt.

Healthy is wealthy. Simple exercise could save you $2,500 a year in healthcare costs related to heart disease. An American Heart Association study found that people who regularly exercised saved $400 on prescription medicines per year and required fewer emergency room visits and hospitalizations. Yet another reason you should get off that couch...

Being in good shape is a must for pro athletes... Good financial shape, that is. Here are seven smart money lessons you can learn from sports stars, including having a game plan for your finances, involving friends in your goals and staying focused. Sure, pro ballers may be raking in (much) bigger paychecks than most of us, but basic money principles don't discriminate.

The U.S. Department of Education is cracking down on for-profit colleges behaving badly. On Tuesday, ITT Technical Institute shut down after the Department of Education denied financial aid to its new students. Why? In part, it was a result of a 2014 lawsuit filed by the federal Consumer Financial Protection Bureau (CFPB), which accused ITT of pushing its students into expensive "predatory" private student loans that were highly likely to lead to default. The Department of Education may now have to forgive ITT students' debt to the tune of hundreds of millions of dollars. Student loan? More like student groan.

Speaking of, what does Hillary Clinton have to say about student debt? A few things, including that in-state public college should be tuition-free for students whose families make less than $125,000 per year, that student borrowers should be able to refinance their federal college loans and that there should be a cap on the amount that borrowers can be expected to pay per month. It's just a pledge for now, but it's a start.

And her opponent, Donald Trump? He's been less descriptive. Trump has said that the government shouldn't profit off of student borrowers, that loans should be tailored to a student's career prospects and that the Department of Education should be "largely eliminated." Will he pull out a trump card and take down the growing student debt crisis? We'll have to wait and see...

And that's the scoop this week -- see you next week for more.

About the Author: Mika Bhatia is a Staff Writer for Credit Karma. She's worked in financial services and tech, and has now found the perfect union of the two at Credit Karma. When she's not busy coming up with credit-related analogies, she's most likely supporting the Warriors, enjoying a fine cup of British tea or doing yoga (goal: completing a headstand without toppling over). Follow her at @MikaBhatia!

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