As the world emerges from the unprecedented economic challenges posed by the Covid-19 pandemic, student loan borrowers have found themselves navigating new fiscal realities. One silver lining for those with educational debt is the potential impact of student loan interest payments on their tax liabilities for the year 2024. The student loan interest deduction allows
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In a significant shift aimed at alleviating the financial burdens caused by healthcare costs, the Consumer Financial Protection Bureau (CFPB) has finalized a groundbreaking rule that will remove approximately $49 billion in medical debt from U.S. credit reports. This monumental decision stands to impact around 15 million Americans, providing them with a much-needed chance to
Target-date funds (TDFs) have rapidly become a cornerstone of retirement investing, particularly within employer-sponsored 401(k) plans. As of 2023, a significant 29% of average 401(k) assets were allocated to TDFs, marking a noticeable rise from just 16% in 2014, according to the Plan Sponsor Council of America (PSCA). Projections indicate that this momentum will continue,
Retirement planning is a critical financial goal that often takes a backseat in today’s fast-paced world. According to a recent CNBC poll, nearly 40% of Americans find themselves lagging in their retirement savings efforts. With changes coming to retirement accounts, especially the 401(k), in 2025, it’s crucial to understand both the new opportunities and the
The landscape of student loan forgiveness in the United States has shifted dramatically with the recent withdrawal of President Biden’s large-scale debt forgiveness initiative. As the administration retracts its sweeping plans, borrowers face uncertainty about their financial futures. However, it’s essential to recognize that while broad cancellation may elude millions, a myriad of targeted debt
As we focus on the future in 2025, many Americans are starting to seriously contemplate their retirement savings strategies. Insights from a recent Bankrate survey indicate that over half of American workers feel they are lagging in their retirement preparations. With the advent of a new year comes an opportune moment to reevaluate and enhance
The COVID-19 pandemic fundamentally altered numerous aspects of everyday life, with workplace dynamics being one of the most prominent shifts. As companies adapted to unprecedented global disruptions, telecommuting rapidly evolved from a rare benefit to a standard operating procedure for many employees. It was a necessary adjustment that allowed businesses to maintain continuity amidst lockdowns
As we approach the end of an administration, significant changes are on the horizon for the nearly 40 million federal student loan borrowers in the United States. With President Joe Biden’s departure and the anticipated presidency of Donald Trump, borrowers might face a landscape of student loan debt relief that looks starkly different than what
As the holiday season approaches, families and friends gear up for the excitement of giving and receiving gifts. However, this joyous occasion often comes with a heavy cloud of financial anxiety. The thrill of unwrapping presents can quickly dissipate when the inevitable credit card statements land in the mailbox. The conflict between holiday cheer and
In a significant move for student borrowers, the U.S. Department of Education has revived two critical repayment plans aimed at easing the financial burden of student loans. The Pay As You Earn (PAYE) Repayment Plan and the Income-Contingent Repayment (ICR) Plan have been reopened to provide borrowers with much-needed flexibility as they strive to manage
In an unprecedented leap, U.S. exchange-traded funds (ETFs) eclipsed the $10 trillion mark in assets in November 2023, reflecting a marked shift in investor behavior and market dynamics. According to Cerulli Associates, this surge was not merely a statistical anomaly, as November also recorded a sensational influx of $156 billion in ETF flows—breaking previous monthly