Personal finance

This month, more than 200,000 first-generation American and low- and middle-income high school seniors will receive something unexpected: proactive college acceptance letters. As part of a strategy aimed at expanding college access, roughly 1 in 8 first-year students with a Common App account will get at least one offer of admission before they even apply.

Secretary of Education Dr. Miguel Cardona answers questions during the daily briefing at the White House Aug. 5, 2021. Win McNamee | Getty Images As student loan bills restarted in October for tens of millions of Americans, the companies that service those loans made errors that potentially violate federal and state consumer protection laws. In

Fotostorm | E+ | Getty Images Morgan Lindsay didn’t mind that student loan bills were resuming in the fall. She’d applied for a new repayment plan over the summer, and her calculated monthly bill came to $0. But then, on Sept. 11, she found that her servicer, Mohela, or the Missouri Higher Education Loan Authority,

The Federal Reserve left its target federal funds rate unchanged for the second consecutive time Wednesday. Even so, consumers likely will get no relief from current sky-high borrowing costs. Altogether, Fed officials have raised rates 11 times in a year and a half, pushing the key interest rate to a target range of 5.25% to 5.5%, the

Richard Stephen | Istock | Getty Images If you’ve applied for Social Security disability benefits and are still waiting for an answer, you’re not alone. “For the first time in history, more than 1 million people are waiting on the Social Security Administration to process their initial disability claim,” said Rep. Drew Ferguson, R-Ga., chair

Jewel Inostroza was very excited when she bought her home in Newnan, Georgia, in 2008. “It seemed like it was a very nice, cozy, close-knit community,” said the 54-year-old. “Then it started turning into a horror story.” Inostroza is the only one listed on the deed, but she and her husband Enrique, 48, share financial

In this article GM STLAM-IT F Follow your favorite stocksCREATE FREE ACCOUNT United Auto Workers members and supporters rally at the Stellantis North America headquarters in Auburn Hills, Michigan, on Sept. 20, 2023. Bill Pugliano | Getty Images News | Getty Images While predictions across the board about employee pay are forecasting slower wage growth

High inflation and higher interest rates continue to weigh on American households. As of September, 62% of adults said they are living paycheck to paycheck, according to a new LendingClub report. The figure is unchanged from last year. “Living paycheck to paycheck remains the main financial lifestyle among U.S. consumers,” the report said. More from

Thomas Barwick When it comes to Social Security, many people have one question: “Will my benefits be there when I retire?” Fears that the program could run out of money tempt some people to claim benefits as early as possible to get back the funds they have paid into the program for their retirement. Meanwhile,

State and local pay transparency laws enacted over the last few years have more employers disclosing salary ranges in job descriptions. Yet, wages aren’t growing as expected. The growth of advertised wages for new hires is slowing, according to a report from job posting service ZipRecruiter — and in some cases, it’s reversing, with companies now

The U.S. Department of Education in Washington, D.C. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images The U.S. Department of Education announced on Monday that it would penalize the student loan servicer MOHELA, or the Missouri Higher Education Loan Authority, for its failure to send timely billing statements to 2.5 million borrowers. As a

If you’re making $120,000 per year, saving $1 million for retirement might seem out of reach. But with a little dedication and the right timing, it’s certainly possible — if you stick to a clear plan. As a rule of thumb, most financial advisors suggest that you save 10% to 15% of your salary for

In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Igor Golovniov | SOPA Images | LightRocket via Getty Images For many purchases, once you swipe your debit or credit card or click “buy now,” that transaction swiftly shows up as pending on your account. But that’s not always the case if you’re shopping in

President Joe Biden delivers remarks on new efforts to cancel student loan debt at the White House on Oct. 4, 2023. Kevin Dietsch | Getty Images President Joe Biden’s plans to cancel up to $400 billion in student debt for tens of millions of Americans were foiled over the summer at the Supreme Court. Still,

People wait in line for a meal served by Queens Together, local restaurants and The First Baptist Church with help of Northwell Health and Ponce Bank in New York on May 6, 2023. Selcuk Acar | Anadolu Agency | Getty Images The share of U.S. households facing hunger is rising at an alarming pace. Nearly 13%

No-mad | Istock | Getty Images The United Auto Workers union has brought new attention to the idea of a 32-hour workweek as part of its strike demands. Turns out, most workers would embrace a shorter workweek. A recent Bankrate survey found 81% of full-time workers want a four-day workweek. That goes particularly for younger

Troy Millings, left, and Rashad Bilal, co-creators of Earn Your Leisure. Source: Tyrell Davis Rashad Bilal and Troy Millings are among a growing class of financial influencers who want to help people be smarter about money. The duo — a former financial advisor and a teacher, respectively — launched the podcast “Earn Your Leisure” nearly

Chris Wattie | Reuters The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting next week, even though the central bank’s preferred inflation indicator remains well above the 2% target rate. Late last month, Fed Chair Jerome Powell said ”inflation is still too high,” raising expectations that another rate hike may

Elenaval | Room | Getty Images If you inherited an individual retirement account, the IRS waived penalties for some missed mandatory withdrawals this year. But there could be reasons to start taking them anyway, experts say. Prior to the Secure Act of 2019, heirs could “stretch” IRA withdrawals over their lifetime, which minimized year-to-year tax

In this article T-CA Follow your favorite stocksCREATE FREE ACCOUNT Nicoletaionescu | Istock | Getty Images Workers’ biggest financial concern is still keeping up with rising costs, more than one year after inflation peaked at a new 40-year high, according to a new report from Telus Health. Those money woes may have a connection to