Text size President Joe Biden said he met a pledge to “provide student debt relief.” Getty Images The Biden administration announced Wednesday the cancellation of $10,000 in federal studen...
Tag: University/College
What Forgiving Student Loan Debt Could Mean for the Economy
Nearly 44 million people collectively owe $1.7 trillion in federal student loans. Forgiving some or all of it would cost taxpayers hundreds of billions of dollars. Stefani Reynolds/AFP/Getty Images Te...
What Biden’s reported student debt cancellation plan could mean for borrowers
The question on millions of student loan borrowers’ minds will likely be settled Wednesday, when the Biden administration is expected to announce broad-based student debt relief. Though borrowers wil...
Biden Planning Student-Loan Announcement Wednesday
White House officials are planning for President Biden to make an announcement on Wednesday about his proposal for dealing with student-loan debt, according to people familiar with the matter. The pre...
U.S. Could Cancel Some Student Debt. Expect News Soon.
Text size A decision on forgiving federal student loan debt is expected by the end of August. Stefani Reynolds/AFP/Getty Images The Biden administration is expected to make an announcement on federal ...
‘The pause has meant everything:’ What happens to borrowers — and the economy — if Biden lets student loan payments resume in September
There’s less than two weeks until the latest pause on federal student loan payments is set to expire on Aug. 31. No need to tell Cassie Smith. The chance of restarted payments are “a looming rain clou...
Paid Off College and the Mortgage? Here’s How to Allocate Your Freed Up Cash.
Retirement savers who’ve paid off their mortgage or have made their last college payment should take a moment to celebrate. Then they should get busy putting their newfound windfall to work. Given th...
Borrowers are on edge—will Biden cancel student debt or not? Here’s what’s going on.
The “he” is, of course, President Joe Biden. Some 43 million borrowers are hanging onto hope that Biden will take executive action to relieve at least some of their collective $1.7 trillion debt. Rumo...
Biden open to canceling $10,000 in student loans per borrower — what that means for your budget, credit score and tax bill
If $10,000 vanishes from your student debt, you may want to celebrate. This is a question millions of student loan holders may be facing soon if President Joe Biden proceeds with a controversial plan ...
‘I’d love to be married now. I would love to be a dad by now. I’d love to have a home by now’: The winners and losers in Biden’s plan to cancel $10,000 in student-loan debt
The Biden administration is planning to cancel $10,000 in student-loan debt for borrowers earning below a specific income threshold. But for borrowers like Johnathan Perkins, 36, the amount of debt fo...
‘I have great plans for myself’: My girlfriend doesn’t understand how her student loan works and rents a pricey apartment. What if we marry — and divorce?
My girlfriend and I have been in a relationship for seven months, and it is getting more serious. I don’t expect us to get married in the next year but I like to plan ahead and if things keep working ...
SoFi shares have taken too heavy a beating ahead of ‘significant earnings momentum,’ analyst says
SoFi Technologies Inc. shares have taken too much of a beating, according to a Piper Sandler analyst who upgraded the stock Monday. Piper Sandler’s Kevin Barker said in a Monday note to clients that t...
Walmart Anticipates a Store Manager Shortage Despite $200,000-a-Year Pay
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Walmart Can’t Find Enough Store Managers, Even at $200,000 a Year
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Empty-Nesters Aren’t Saving for Retirement Like They Promised. That’s a Problem.
Currently, a person 50 or older can stash as much as $27,000 a year into a 401(k) and $7,000 into an IRA or Roth IRA. Photo illustration by Barron’s staff; (reference) Dreamstime (4) Text size ...
Opinion: Our student-loan system needs fixing — and this change would be smarter than just forgiving debt
Most of the recent discussion of student debt has focused on the prospect of forgiving that debt—telling borrowers that they don’t have to repay the funds the federal government provided to help them ...
I borrowed $50K for culinary school, but now owe $90K. How do I get out of debt?
How to get out of student loan debt Getty Images/iStockphoto Question: I went to culinary school where I received a bachelor’s degree in culinary management. At the time in 2007, I didn’t know it woul...
I’m 69 and ‘never got a job that paid well.’ How can I tackle student loan debt?
How to get out of student loan debt Getty Images/iStockphoto Question: I went back to college to get my degree after my children had grown up and my mother passed away. I left my job as a corporate ch...
‘I can’t afford to pay the loan because I’m on a fixed income.’ I’m a 57-year-old widow with $67K in student loan debt. Can you help me get rid of it?
There are some forgiveness and benefit options, including some specific to military spouses that could provide financial compensation. AP Question: I’m a military wife, and my husband died on active d...
‘It is costing more to survive now.’ I owe $109K in student loans, and the balance keeps going up as the loan servicer ‘continuously tacks on more money.’ With high inflation, how can I even cope with my student loans now?
Unfortunately, it is possible for a loan balance to increase, even as you are making payments. iStock Question: I have student loans in excess of $109k. I am on an income-driven plan but my biggest p...
Will Biden Cancel Student Debt? Two Years In, He’s Still Mulling Up to $10,000
Text size President Joe Biden said Thursday he is “considering dealing with some debt reduction.” Anna Moneymaker/Getty Images Two years since candidate Joe Biden tweeted that student borr...
‘I’m spending a fortune on home maintenance. I realize my second husband is essentially living in my house for free’: What is a fair way to split costs?
I am a retired 62-year-old woman. I was widowed in 2006 at the age of 46 and raised my two children (now 24 and 27) on my own. I used my husband’s life insurance money (about $500,000) to maintain our...
Here’s how to craft student-loan forgiveness in a way that cuts out those who don’t need help
The Federal Reserve Bank of New York on Thursday released new analyses on student loans, with one blog post focused on who would benefit from various approaches to canceling such debt — as well as eac...
‘My degree has not led to greater income.’ Can I get rid of old student loans?
How to get out of student loan debt Getty Images/iStockphoto Question: I have a degree, and I’ve been paying the student loan for about 25 years. I switched to income-driven repayment in 2011. The loa...
Biden administration launches student loan review, says 40,000 borrowers will see debt canceled
The Department of Education announced Tuesday a new review of its student debt portfolio, which it says will correct for past mistakes that denied 3.6 million borrowers credit toward student loan forg...
‘Student-loan socialism’ — Republicans blast Biden’s debt-forgiveness move, as Democrats praise his ‘effective action’
President Joe Biden on Wednesday made his long-awaited announcement on federal student loans, saying his administration plans to cancel $10,000 in debt per borrower for individuals making under $125,0...