Recently, the Biden administration has been making waves by forgiving student debt for select groups of qualifying borrowers. This has led to almost 3.9 million individuals having their loans cancelled, amounting to a staggering $138 billion in relief. However, for those who have not yet qualified for this aid, the question remains – when will
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The issue of affordability is a major concern among college hopefuls, yet there has been a significant decrease in the number of students applying for financial aid. The challenges associated with the new Free Application for Federal Student Aid (FAFSA) have deterred many high school seniors and their families from completing the application. According to
As the federal tax deadline looms, millions of Americans are rushing to file their returns. However, for U.S. expatriates, the process is even more complicated due to additional filing rules. A recent survey by Greenback Expat Tax Services revealed that nearly one-third of American expats are either considering renouncing their citizenship or already have plans
Losing a spouse can be an emotionally challenging experience, and the financial implications that come with it can be equally as difficult, especially for older women who may face a higher tax burden. According to data from the Centers for Disease Control and Prevention, there is a significant gap in life expectancy between men and
Shrinkflation is a deceptive tactic employed by companies where product sizes are reduced while prices remain the same or even increase. The practice has garnered attention from various corners, including President Joe Biden and even popular characters like Cookie Monster. While the President has called for regulations to curb shrinkflation, consumers are urged to be
With the recent rise in inflation rates, Social Security cost-of-living adjustments have increased in the past years. However, experts predict that these benefit increases may begin to decrease starting in 2025 as inflation subsides. Mary Johnson, a Social Security and Medicare policy analyst, suggests that the 3.2% increase in 2024 may be among the last
The White House has announced plans to eliminate origination fees on federal student loans, a move aimed at reducing the financial burden on students. According to the Biden administration, these reforms are expected to save billions of dollars in unnecessary fees for borrowers. While most private lenders have already done away with origination fees, federal
When it comes to Social Security benefits, the decision of when to claim them is crucial for all older Americans, but it holds even more significance for women. According to Mary Beth Franklin, a certified financial planner and Social Security expert, this decision is heavily influenced by the factor of longevity. Women, on average, tend
In today’s society, the importance of earning a college degree has been emphasized for decades. Recent data from the Federal Reserve Bank of New York highlights the significant financial advantage that college graduates have over those with just a high school diploma. On average, college graduates working full-time earn an additional $24,000 per year, leading
In a society driven by social media, overwhelming evidence suggests that platforms such as Instagram and Facebook have a detrimental impact on individuals’ self-esteem, particularly in relation to their financial wellbeing. A recent study by Credit Karma has introduced the term “money dysmorphia” to describe the distorted view that nearly one-third of Americans now have