Personal finance

Whether it’s due to belt-tightening or the promise of federal student loan forgiveness, suddenly families are paying closer attention to financial aid for college. Of those parents with college-bound students who didn’t plan on applying for federal aid, 58% have now changed their minds, according to a new report by Discover Student Loans. “Given the uncertainties
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In this article TRU Follow your favorite stocksCREATE FREE ACCOUNT After years of cheap money, it’s suddenly a lot more expensive to borrow. The Federal Reserve has raised its benchmark short-term rate 3 percentage points since March in an effort to curb unrelenting inflation, including another big hike earlier this week. “Interest rates are going up at the
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sturti The possibility of a looming recession is prompting fresh worries for both professional and everyday investors. More than half of Americans — 56% — think the country is already in a recession, according to a recent survey from MassMutual. Meanwhile, 49% of respondents said they think there will likely be a recession next year,
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Noel Hendrickson/Getty Images Even with signs that the housing market is cooling, homebuyers are still feeling the sting of elevated prices and higher interest rates. The average rate on a 30-year fixed-rate mortgage is 6.7% as of Friday, up from 3.3% at the start of 2022, according to Mortgage News Daily. Alongside that, home prices
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Ronnie Kaufman | DigitalVision | Getty Images For some new retirees, there’s an extra step needed when it comes to signing up for Medicare. That is, you may need to appeal so-called income-related adjustment amounts, or IRMAAs, if your income as a new retiree is lower than when you were working. Those extra charges kick
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Hinterhaus Productions | Digitalvision | Getty Images It’s that time of year, when workers get to make some decisions about their employee benefits. Many companies are beginning to hold their annual open enrollment period, which is when employees can sign up for 2023 health insurance — as well as consider other benefits, if your employer
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The Federal Reserve raised the target federal funds rate by 0.75 percentage points for the third time in a row, in an effort to cool down unrelenting inflation. Fed officials have raised the benchmark short-term borrowing rate a total of five times this year, including 75 basis point increases in June and July, marking an unprecedented pace.
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Monkeybusinessimages | Istock | Getty Images Millions of Americans may receive reduced Social Security benefits if they worked in public roles as teachers, firefighters, police or government workers. Now a proposal in Congress to eliminate the rules that cause those benefit reductions is moving forward. But experts say it’s still unclear whether the bill will
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Enes Evren It’s been a rough year for the stock market, and some consumers are closing investment accounts due to inflation and volatility concerns, according to a recent survey from Ally Financial.  As investors brace for another major interest rate hike from the Federal Reserve, inflation is still hovering near a 40-year high and the
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hept27 | iStock | Getty Images Student loan debtors are poised to get some breathing room after President Joe Biden unveiled a plan last month to forgive up to $20,000 in federal student loans per borrower. But some experts say the one-time presidential pardon will not do much to alleviate the student debt crisis affecting
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In this article MERC Siriporn Wongmanee / Eyeem | Eyeem | Getty Images The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment
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