How a government shutdown could affect student loan payments
With a government shutdown looming, student loan borrowers could face more headaches once student loan repayments resume after a three year pause. Here’s what you need to know.
Student loan scams surge as October repayment date approaches
Scammers are looking to take advantage of borrowers in need of financial assistance as student loan payments start back up.
Biden's student debt forgiveness may be taxed in these five states
Although student debt discharged is exempt from federal tax due to the American Rescue Plan Act of 2021, some states may still tax the savings, according to a report by the Tax Foundation.
Household income drops amid high inflation
The typical American’s income dropped for the third straight year amid record-high inflation. But you can still pay down high-interest debt quickly.
Inflation is affecting parents' ability to pay for education: survey
Inflation is taking a toll on back-to-school shopping expenses in 2023 as parents struggle with funding their children's education, supplies and extracurriculars, according to a survey.
Fed pauses interest rate hikes in September but could raise rates again this year
The Federal Reserve paused interest rates in its September meeting. But inflation remains high as Americans deal with record credit card debt. Here’s what to do.
Feeling the financial burden of today's economy
With so many increases, it's easy for spending to rise without realizing it. People are feeling the pinch in a variety of unexpected ways, and trying to find new strategies for making ends meet.
Student loan repayment may force some to take on more debt: survey
Many student loan borrowers are anxious that they won't be able to meet their payment obligations once repayments resume in October, according to a recent survey by Achieve.
Social Security payments could rise 3.2 percent in 2024
The Social Security cost of living adjustment could increase to 3.2% in response to high inflation. But it’s far from the 2023 record raise and many Americans still struggle to generate retirement income.
Here's how much it costs to raise a child in your state
Data shows the average annual cost to raise a child rose nearly 20% between 2016 and 2021.
Data reveals states with the highest credit card debt
Credit card debt topped $1 trillion nationwide.
IRS to pause accepting claims for COVID-era tax credit amid fraudulent claims
The tax credit, called the Employee Retention Credit, was created to help small businesses keep paying their employees during the pandemic if they were suspended from operating.
Map: Here's the minimum annual income required to be middle class in each state
Inflation has surged in the past few years, peaking at 9% in June 2022. That means some families who were middle class in 2020 may no longer be in that category.
Medicare Part D drug prices increase more than 200 percent on average: AARP
The average price of 25 prescription brand name drugs with the highest Medicare D spending increased by 226%, AARP reported. But provisions in the Inflation Reduction Act aim to lower the costs of Medicare coverage for retirees.
Here's how to lower your monthly student loan payments
There are many ways to lower student loan payments or get forgiveness. These include the Saving on A Valuable Education (SAVE) plan, income-driven repayment (IDR) plans, public service loan forgiveness (PSLF) and more.
Gen Zers credit card balances grow the fastest: TransUnion
Overall card balance surged to a record high of $963 billion in the second quarter — Gen Zers debt represented the most significant share of this growth, according to TransUnion.
Over 4 million student borrowers enroll in Biden’s SAVE forgiveness plan
The Department of Education said it had received nearly 4 million applications for a new income-driven repayment program since launching at the end of July.
Here is how you can avoid a tax refund shock next year
Next year’s tax refund shouldn’t be a shock to Americans if they take stock of their income taxes mid-year, according to Jackson Hewitt.
Back-to-school shopping expenses to reach record high: survey
Back-to-school spending in 2023 could reach a record high of more than $40 billion, largely due to demand in electronics, a survey reported. At the same time, Americans continue dealing with high inflation.
Americans consider using credit cards to afford student loan payments: survey
Many Americans who used the pause on student loan payments to reduce debt may now have to reverse course, according to a recent Empower survey.