Supachok Pichetkul / Eyeem | Eyeem | Getty Images Some policy experts were quick to sound an alarm after President Joe Biden announced a sweeping new plan Wednesday to cancel up to $10,000 in federal student loans for borrowers with incomes under $125,000. Biden will cancel up to $20,000 for recipients of Pell Grants. The
Personal finance
Comstock | Stockbyte | Getty Images The labor market is strong, and unemployment is low. But economists fear a recession looms — and 50% of employers expect to reduce headcount in the next six to 12 months, according to a recent PwC survey. Workers who turn to jobless benefits for financial help will find a
Air conditioner units for sale during a heat wave in Austin, Texas, on Tuesday, July 19, 2022. Sergio Flores | Bloomberg | Getty Images Labor Day deals are already underway, with big discounts on summer clothing, appliances and outdoor furniture. “Sales have already started,” said Julie Ramhold, a consumer analyst at DealNews.com. For cash-strapped consumers, this
dowell | Moment | Getty Images After nearly eight months of market volatility, many investors still worry about rising interest rates and how those changes affect their portfolio. Some 88% of investors are concerned about rising inflation and interest rates, according to a J.P. Morgan Wealth Management study published Monday, polling more than 2,000 Americans,
Porquenostudios | Istock | Getty Images The White House is considering a plan to forgive $10,000 in student debt for borrowers who make less than $125,000, according to reporting by CNN. The Biden administration has promised to make a decision on student loan forgiveness by the end of August, when monthly loan payments are scheduled
A pedestrian carries shopping bags in San Francisco, California, US, on Wednesday, June 1, 2022. David Paul Morris | Bloomberg | Getty Images Even as many people struggle to stretch their incomes amid high inflation, it turns out there’s money they already have they’re probably overlooking — unused gift cards. To that point, 47% of
Srdjanpav | E+ | Getty Images Many companies have announced layoffs in recent weeks, and others have hinted that cuts may be coming. Luckily, there are steps workers can take to prepare. “At the end of day, you can’t control what’s happening in the economy, but you can control building a strong professional resilience,” according
Some experts believe the Biden administration could announce a decision on whether to extend a more than two-year-long pause on federal student loan debt this week, ahead of the current Aug. 31 deadline. Many borrowers are hoping the Education Department will extend that break and announce up to $10,000 in loan forgiveness. Currently, about 44
andresr | E+ | Getty Images Medicare may seem like a maze when you first try to navigate it. After all, there are different “parts” to the federal health insurance program, which provides coverage for about 56.5 million individuals in the 65-and-older crowd. And, whether you’re reaching the eligibility age of 65 or you are
Drazen Zigic | Istock | Getty Images The U.S. Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. As part of its “Fresh Start” initiative, the 7.5 million student loan borrowers who are in default will be able to return to repayment
kate_sept2004 | E+ | Getty Images The youngest workers entering the workforce — Gen Z, who range in age from 10 to 25 — showed dramatic adoption of individual retirement accounts, according to second quarter data released by Fidelity Investments this week. Fidelity IRAs owned by that generation increased 87% over the second quarter of
Impulse buys can quickly erode even the best financial plans. And yet, between sponsored posts on social media and “revenge spending,” they are nearly impossible to avoid. As the cost of living surges and more Americans say they are stretched too thin amid concerns about a possible recession, they’re dipping into their cash reserves and nearly half are falling