In this article SNAP Follow your favorite stocksCREATE FREE ACCOUNT People shop at a 99 Cents store in Santa Monica, California, on Sept. 13, 2022. Apu Gomes | AFP | Getty Images Food stamp recipients may be in for a shock as temporary pandemic enhancements to the Supplemental Nutrition Assistance Program expire, leading the average person
Personal finance
Ben Kirkhoff, a high school senior at Cretin-Derham Hall in St. Paul, Minnesota, knows that a four-year college degree isn’t for him. Even though his parents have a college savings account for him, he said money is still a factor. “I don’t want to put myself and my family in a lot of debt.” Instead, Kirkhoff,
U.S. Solicitor General Elizabeth Prelogar Artist: Bill Hennessey The government’s top Supreme Court lawyer may have saved President Joe Biden‘s $400 billion student loan forgiveness plan from what experts considered all but certain defeat. Experts lobbed praise on Solicitor General Elizabeth Prelogar, the lawyer who represented the Biden administration in front of the nine justices
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room. As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier,
Sneksy | E+ | Getty Images For some individuals, the solution for eliminating crushing debt is to file for bankruptcy. While the catalyst for going that route differs from person to person, it’s worth knowing which obligations can and cannot be discharged in bankruptcy. For instance, just last week, the U.S. Supreme Court ruled in
Morsa Images | E+ | Getty Images If you’re on track to max out your 401(k) plan for 2023 and want to save more, your plan may have another option: after-tax contributions. For 2023, you can defer up to $22,500 into your 401(k), and savers age 50 and older can add another $7,500. Some plans
A Jan. 2, 2023 protest in favor of federal student loan relief outside the U.S. Supreme Court in Washington, D.C. Larry French | Getty Images Entertainment | Getty Images The Supreme Court will have the final say on President Joe Biden’s student loan forgiveness plan. And yet, college affordability will remain an issue for years to
Getting into college is hard enough, but figuring out how to pay for it is another hurdle altogether. Higher education already costs more than most families can afford, and college costs are still rising. Tuition and fees plus room and board for a four-year private college averaged $53,430 in the 2022-2023 school year; at four-year, in-state public colleges,
Damir Khabirov If you’re eager to capture higher yields amid rising interest rates, you may consider a Treasury bill ladder, depending on your goals, according to financial experts. Backed by the U.S. government, Treasury bills, or T-bills, are widely considered a relatively safe asset, with terms of four weeks to 52 weeks. You receive the
Supreme Court. Douglas Rissing | Istock | Getty Images The Supreme Court will hear on Tuesday oral arguments over President Joe Biden’s student loan forgiveness plan, starting off a decision-making process that will impact the balance sheets of tens of millions of Americans. The nine justices will consider two legal challenges to Biden’s plan to
The U.S. Supreme Court in Washington, D.C. Kent Nishimura | Los Angeles Times | Getty Images The Biden administration is currently blocked from carrying out its promise of canceling up to $20,000 in student debt for tens of millions of Americans while its relief plan heads to the Supreme Court. On Tuesday, the nine justices
People walk past a mural of George Floyd by the Cup Foods where he was killed by Minneapolis Police Officer Derek Chauvin in Minneapolis. Sopa Images | Lightrocket | Getty Images When George Floyd was murdered by police in 2020, the event brought a “scary” time for the Minneapolis neighborhood where it occurred. “Everything was
Newsday Llc | Newsday | Getty Images If you’re among the people who leased an auto in 2020 and are nearing the end of that agreement, you may want to check what the car is worth before turning it in. The average trade-in value of cars leased in 2020 is 19% more ($3,965) than the
Shoppers look at items displayed at a grocery store in Washington, D.C., on Feb. 15, 2023. Stefani Reynolds | AFP | Getty Images A new U.S. government reading showing persistent high inflation rattled Wall Street on Friday. Consumers can expect the rate of price growth will likely stay higher than average through 2023. “Inflation is
In this article FIS Follow your favorite stocksCREATE FREE ACCOUNT Fluxfactory | E+ | Getty Images In a year marked by stiff economic headwinds, retirement savers paid the price. Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23% from a year earlier to $103,900, according to
MStudioImages | E+ | Getty Images If you’re looking for a relatively safe place for cash, Treasury bills have recently become more attractive, experts say. Backed by the U.S. government, Treasury bills, or T-bills, have terms ranging from four weeks up to 52 weeks, and investors receive interest when the asset matures. Over the past
Credit card providers are benefitting from post-pandemic travel and increasing card usage in general, with balances way up in recent months. Valentinrussanov | E+ | Getty Images Financial stocks were so out of favor for most of 2022 that perhaps their tickers should have been appended with a Nathaniel Hawthorne-esque “U” — for “unloved.” Yet
Citing inflationary pressures and sinking enrollment, more colleges are set to close in 2023. Already, Presentation College in Aberdeen, South Dakota; Cazenovia College in Cazenovia, New York; Holy Names University in Oakland, California; and Living Arts College in Raleigh, North Carolina, announced they will shut down after the current academic year. The consequences of fewer students and less
Pixelfit | E+ | Getty Images Falling behind on federal student loans is likely to trigger other major financial consequences for borrowers, according to new research by The Pew Charitable Trusts. More than 80% of borrowers who experienced default stated that they’d faced at least one additional consequence as a result. The most common impact
Many Americans are feeling increasingly cash-strapped. An extra paycheck next month could help. If you are a W-2 employee and get paid biweekly, there are two months out of the year when you will receive three paychecks instead of the usual two. Depending on your pay schedule, your first three-paycheck month in 2023 could be
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