I am a single 35 year-old with $40,000 remaining in federal student loans. In early 2020, I was super lucky to land a great new job that significantly increased my income. This was the middle of the p...
Tag: Student loans
‘I’m holding my breath’: What will happen if the Supreme Court blocks Biden’s student-loan forgiveness plan?
As the Supreme Court debates President Joe Biden’s student-loan forgiveness plan, Americans’ consumer debt continues to rise — and more of it is past due. For Shanna Hayes, 34, who was recently laid o...
Why To Invest Regardless Of The Supreme Court Decision On Student Loan Debt Relief
Getty Images Key takeaways The Biden Administration’s student loan debt relief plan will debut before the Supreme Court on February 28 Two lawsuits against the plan argue that the Biden Administration...
Biden’s Quiet Student Loan Cancellation: Income-Driven Repayment Expansion
US President Joe Biden announces student loan relief with Education Secretary Miguel Cardona (R) on … [+] August 24, 2022 in the Roosevelt Room of the White House in Washington, DC. – Bide...
Biden administration unveils sweeping changes to student loan repayment
The future of the Biden administration’s student debt-relief plan currently rests with the Supreme Court, but in the meantime, officials are moving forward with sweeping reform that could have an even...
Three Bipartisan Higher Education Reform Ideas For The New Congress
WASHINGTON, DC – JANUARY 03: Members of the 115th U.S. Congress take their oath of office January … [+] 3, 2017 in Washington, DC. Seven new members of the U.S. Senate and 52 new members o...
The White House embraced debt forgiveness in 2022. Here’s what student-loan borrowers can expect in 2023.
This was the year the White House embraced the idea of mass student-loan forgiveness, but 2023 will likely be the year when borrowers will find out whether the policy will actually impact their wallet...
Year-End Expert Advice On Student Loan Forgiveness
President Joe Biden, speaking about student loan relief at Delaware State University in October. The Supreme Court will hear challenges in February to his plan to forgive up to $20,000 for some borrow...
How Colleges Conceal Their True Prices
getty In most industries, pushing a loan on naïve consumers without clarifying that it is, in fact, a loan, would invite outrage and a possible regulatory clampdown. In higher education, it’s business...
What The 2022 Midterms Mean For The Markets
Kevin McCarthy (R-CA) will serve as speaker of the House from January 2023, how will political … [+] gridlock after the midterms shape financial markets? (Kent Nishimura / Los Angeles Times via ...
How To Prevent The Next Student Loan Crisis
WASHINGTON, DC – MAY 12: Student loan borrowers gather near The White House to tell President Biden … [+] to cancel student debt on May 12, 2020 in Washington, DC. (Photo by Paul Morigi/Ge...
“Gainful Employment For All” Isn’t Enough To Hold Higher Education Accountable
getty The Biden administration is likely to reinstitute the Gainful Employment (GE) rule, a federal regulation which aims to kick low-value higher education programs off federal student aid. Critics o...
5 red flags to spot student loan forgiveness application scams
Win-initiative/neleman | Stone | Getty Images The Biden administration officially launched the application for federal student loan forgiveness on Monday — and scammers are already “on the move&...
“Gainful Employment” Could Shut Down Good Programs—Here’s How To Fix It
getty It has become clear that many of the colleges and universities that the federal government funds do not provide their students with a strong enough return on investment to repay their loans. Wit...
You get some student loan debt erased, but what about the rest of it?
“January is going to be here before you know it,” says Damian Dunn, a certified financial planner and vice president of corporate financial wellness platform Your Money Line. Payments resume in Januar...
What to look for in your credit report to lower borrowing costs
vitapix | E+ | Getty Images Your credit score can make or break your ability to open a credit card or buy a new car or home at attractive interest rates. To boost your score, you need to know where yo...
‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on. Do I need professional help?
I’m the first of my generation to own a home and the first to earn this much annually and don’t want to mess this up. How, specifically, can a financial adviser help me? Getty Images Question: By the ...
Debt cancellation got all the attention, but this Biden proposal could impact student-loan borrowers more, critics and advocates say
When President Joe Biden announced in August that his administration planned to cancel $10,000 in federal student debt for most borrowers, Allison Daurio felt some relief. Under the White House’s deb...
Lawsuit Seeks to Block Biden’s Student Loan Relief
An Indiana public interest lawyer filed a lawsuit against the Education Department to block the Biden administration’s plan to cancel billions of dollars of federal student debt, saying it would force...
What will people do after getting $10,000 or $20,000 in student debt forgiven? MarketWatch asked readers — here’s the No. 1 answer.
Americans’ student debt loads are poised to lighten up and people are making plans on what’s next for their freed-up cash. Borrowers appear to have two prime targets in mind: getting current on their ...
When can I apply for student loan cancellation? How much will I get? Here are answers to some of the big questions.
President Biden’s highly anticipated federal student loan cancellation announcement last month created as many questions as it answered, prompting at least one major loan servicer’s website to crash a...
You may owe taxes for federal student loan forgiveness in these states
Marko Geber | DigitalVision | Getty Images If you’re one of the millions of Americans expecting student loan forgiveness, you won’t owe federal taxes. But that doesn’t mean you’...
You made payments on your student loans during the pause. Can you get a refund?
This article is reprinted by permission from NerdWallet. Hundreds of thousands of borrowers made payments on their federal student loans since forbearance began in March 2020, taking advantage of the...
How To Invest $10,000 After Student Loan Forgiveness
Erasing “debt.” Getty Images You’ve likely heard about the student loan forgiveness announcement from President Biden. Key Takeaways This could be the perfect opportunity to start investin...
These states may tax federal student loan forgiveness
dmphoto | E+ | Getty Images There’s good news if you’re eligible for student loan forgiveness: It won’t trigger a federal tax bill. And while some may still owe state taxes, it may b...
Here’s Everyone Who Qualifies After White House Announces Further $1.5 Billion In Forgiveness
Topline The White House forgave $1.5 billion in student loan debt for attendees of the now-closed Westwood College on Tuesday, bringing the total relief under the Biden Administration to a whopping $3...
Education Dept. cancels $1.5 billion in loans for Westwood College borrowers
Tero Vesalainen | Istock | Getty Images The U.S. Department of Education on Tuesday announced it will cancel all remaining federal student debt for former students of the now-defunct for-profit Westwo...
I’ll inherit $40,000 from my grandmother. Should my husband and I boost our kids’ college savings accounts, or pay off credit cards and student loans?
After a terrible battle with dementia, my grandmother died a few weeks ago. She did not leave much, but I will — along with my siblings — receive about $40,000 in life insurance. I am trying to figure...