Personal finance

The Federal Reserve left its target federal funds rate unchanged Wednesday, but did not signal an end to its aggressive rate hike campaign. For households, that offers little relief from 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%

A sign marks the location of the University of Phoenix Chicago Campus in Schaumburg, Illinois. Getty Images The Biden administration announced on Wednesday that it would cancel nearly $37 million in student debt for more than 1,200 students who attended the University of Phoenix. The relief will go to many borrowers who applied for borrower

Hannah Williams poses for her Salary Transparent Street on TikTok Credit: Hannah Williams of Salary Transparent Street For most people, asking others “What do you do for a living?” is just one part of everyday small talk. But for Hannah Williams, posing that question to strangers is, in fact, what she does for a living.

Jose Miguel Sanchez | Istock | Getty Images Federal student loan repayment is set to restart in October following a pandemic hiatus that has been in place since March 2020. Millions of Americans will be on the hook to make monthly payments on those debts, including some Social Security beneficiaries. But if those debtors fall

Woman going over her finances Damircudic | E+ | Getty Images Ready or not, student loan bills are restarting in a matter of weeks. Most borrowers haven’t made a payment on their education debt since Donald Trump was president and the coronavirus was starting to spark concerns. The pause on the bills and the accrual

Svyatoslav Balan | Getty Almost regardless of how much you have in the bank, it’s hard to feel financially secure. Across the board, households are facing surging child-care costs, ballooning auto loans, high mortgage rates and record rents amid economic uncertainty and recessionary fears. Of those with more than $1 million in investable assets, as many

IRS Commissioner Daniel Werfel testifies before a Senate Finance Committee hearing on Feb. 15, 2023. Kevin Lamarque | Reuters As the IRS pauses on processing new claims for a pandemic-era small business tax break, some filers are in limbo as the agency works on further guidance. The IRS on Thursday temporarily halted processing for amended payroll

Artistgndphotography | E+ | Getty Images The Federal Reserve is likely to pause its aggressive interest rate hikes when it meets this week, experts predict. But consumers may not feel any relief. The central bank has already raised interest rates 11 times since last year — the fastest pace of tightening since the early 1980s. Yet recent

Suriyapong Thongsawang | Moment | Getty Images Inflation is broadly retreating in the U.S. economy. But starting in October, health insurance is poised to act as a countervailing force that buoys inflation for about a year, economists said. That’s significant at a time when policymakers are using inflation data to determine how to set interest

EmirMemedovski | E+ | Getty Images This August, two years into their relationship, Yumi Temple and her boyfriend, Daniel, moved into their first apartment together, in Denver. It was Temple’s first time living with another person, outside of family, and she quickly learned there was a lot to navigate. The couple decided to see a

Halfpoint Images | Moment | Getty Images Many women already feel they are behind when it comes to being financially prepared for retirement. There’s another risk they have to watch for: disruptive curveballs life throws at them that may put them off track, according to recent research from financial services firm Edward Jones and aging

Juan Algar | Moment | Getty Images Student loan payments are restarting in October after a pause of more than three years — and scammers are trying to take advantage, the Federal Trade Commission warned Thursday. Fraudsters may try mislead borrowers by offering assistance and asking them to pay for it, Ari Lazarus, consumer education

Peopleimages | Istock | Getty Images Unable to come up with the cash for steep college tuition bills all at once, many families opt to pay the tab over time. However, a new report by the Consumer Financial Protection Bureau warns of a number of risks associated with these payment plans, including snowballing charges and

Halfpoint Images | Moment | Getty Images A federal program that provides monthly income to elderly, blind and disabled Americans to provide for their basic needs has not been updated in about 40 years. On Tuesday, Washington lawmakers renewed a push to update rules associated with the program known as Supplemental Security Income, or SSI.

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images IRS Commissioner Danny Werfel on Thursday ordered the agency to immediately stop processing new claims for a pandemic-era small business tax break to protect filers from a “surge of questionable claims.”

Tipping 20% at a sit-down restaurant is still the standard in the U.S., according to most etiquette experts. Diners disagree. After holding steady for years, tipping at full-service restaurants fell to 19.4% in the second quarter of 2023, according to online restaurant platform Toast‘s most recent restaurant trends report, notching the lowest average since the start of the pandemic.

Gasoline was priced from $4.29 a gallon at a fuel station in Virginia on Aug. 16, 2023. Anadolu Agency | Anadolu Agency | Getty Images Inflation jumped in August on the back of higher gasoline prices, according to the consumer price index. But there’s good news for Americans: That increase is likely temporary, economists said.

Westend61 | Westend61 | Getty Images Thanks to a law passed four years ago, borrowers with outstanding federal student debt are able to tap into any remaining 529 college savings plan funds they have to pay down up to $10,000 of what they owe. That may now be a particularly appealing option, given that federal

Squaredpixels | Getty Images When it comes to saving and investing, many investors tend to think of two key goals — funding emergencies that could crop up in the short term or retirement that may be years away. But as many individuals continue to reconsider their goals following the Covid-19 pandemic, experts say that that

Wendee Goles Courtesy: Wendy Goles In July, Wendee Goles saw headlines that the Biden administration planned to cancel the student loans of more than 800,000 people. Even though she seemed to fit the description of eligible borrowers — those who had made payments for decades through an income-driven repayment plan — she didn’t get her hopes