The recent announcement by the U.S. Department of Education regarding interest rates on federal student loans has left parents grappling with some unpleasant news. In the upcoming 2024-2025 academic year, parents looking to avail Direct PLUS loans will be facing a hefty 9.08% interest rate. This rate marks the highest percentage in over three decades,
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Amidst the higher inflation rates seen across the US economy, there are certain sectors experiencing a different trend – deflation. This means that prices for certain goods and services are actually declining for consumers. Physical goods such as cars, furniture, and appliances have seen a reduction in prices, along with some groceries and travel expenses,
The U.S. Department of Education has recently announced an extension to the deadline for borrowers to meet a crucial student loan forgiveness requirement. This adjustment allows borrowers to request a loan consolidation by June 30, resulting in the merging of their federal student loans into a new federal loan. This move could potentially lead to
The recent surge in shares of AMC Entertainment and GameStop has once again captured the attention of investors, driven by social media and online communities. This “meme stock” rally, triggered by a social media account known as “Roaring Kitty,” has reignited the trading frenzy that was seen during the 2020-2021 meme stock frenzy. The resurgence
As new college graduates step out into the job market this year, they are faced with a challenging landscape. Reports from the National Association of Colleges and Employers indicate that there will be a 5.8% decrease in hiring compared to the previous year. This decline is primarily seen in industries such as chemical manufacturing, finance,
Living in a world where prices seem to be constantly on the rise can put a significant strain on individuals and families. According to a survey by CNBC/SurveyMonkey, 65% of U.S. adults attribute their financial stress to inflation. This economic pressure has led to a situation where a large percentage of people are living paycheck
In an attempt to level the playing field and provide better opportunities for higher education, Connecticut has implemented various initiatives to increase access to college and reduce the burden of student debt. While the state has a long-standing wealth gap issue, it is striving to make college more affordable and accessible to all its residents.
President Joe Biden’s economic advisor recently addressed the forthcoming discussion surrounding the expiration of trillions of dollars in tax breaks implemented by former President Donald Trump. Without any modifications from Congress, certain provisions from the Tax Cuts and Jobs Act (TCJA) of 2017 will terminate after 2025. These include lower federal income tax brackets, an
When considering a Roth individual retirement account (IRA) conversion, it is important to understand the potential tax savings that can be achieved. A Roth conversion involves transferring pretax or nondeductible IRA funds to a Roth IRA, where they can grow tax-free. While there is an upfront tax liability on the converted balance, the long-term benefits
President Joe Biden is aiming to initiate the forgiveness of student loans for millions of Americans ahead of the November presidential election. However, before this plan can be put into action, his administration must carefully review the public comments submitted by individuals regarding his debt relief proposal. These comments were made available in the Federal