College used to be a luxury once upon a time in America. Ivy league schools were havens for the elite to network and launch their careers. In modern times, however, college has almost become a prerequisite for finding an entry level position in most industries. But with that college degree also comes with debt. And what once was a bit of assistance to help students achieve their dreams has now turned into a full scale cash machine generating trillions in student debt. However, that industry is taking a hit as more Americans than ever are defaulting on student loan payments. What does that mean for those who default?

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SAKS OWNER HUDSON’S ON THE BAY IN TALKS TO BUY NEIMAN MARCUS

Neiman Marcus Group Ltd. is in talks to sell itself to the parent of Saks Fifth Avenue, according to people familiar with the matter, as the two upscale chains struggle with a shift away from traditional stores, even among the wealthiest shoppers. The luxury department-store operator, which has been controlled by private-equity firms for a dozen years, has been grappling with a $5 billion debt load as sales have declined in recent years.

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MNUCHIN TO MEET WITH COUNTERPARTS FOR FIRST TIME AT G-20 ON THURSDAY

Germany expects finance chiefs from the Group of 20 nations to find common ground when they meet later this week despite disagreements in some areas, a senior German finance ministry official said Monday. The comments come as finance ministers and central bank governors from the Group of 20 are set to meet in Baden-Baden, Germany, on Friday and Saturday.

“We expect a proper agreement on the key issues, but of course there will be different emphasizes and opinions,” said the German finance ministry official, who declined to be identified. “We think the discussions will be constructive and come to a good agreement.”

The U.S.’s new Treasury Secretary Steven Mnuchin will meet his counterparts for the first time to discuss the new U.S. administration’s view on free trade and ideas to change corporate taxation…

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Closing Bell

– Tuesday, March 14th

Markets Close DOWN as Crude Slides for Seventh Straight Session

Big Insider Trades

– Hewlett Packard Enterprise Co. (HPE) EVP Michael Nefkens Sells $5.75m

– Medifast, Inc. (MED) Director Glenn Welling Buys $700k