Yurou Guan | Moment | Getty Images Under the Trump administration, more than 72,000 student loan borrowers who are likely eligible for debt forgiveness are stuck in a backlog of applications waiting for the relief. Some of them, like 46-year-old April Osteen, owe just a single payment. Others, like Dan Carrigg of Rhode Island, have…
Jose Luis Pelaez Inc | Digitalvision | Getty Images There’s a way for student borrowers pursuing Public Service Loan Forgiveness to get their debt wiped away sooner than they might have expected. But that program, called PSLF Buyback, has been experiencing some challenges of late. Chief among them: As of July 31, there’s a 72,730-person…
Fans enjoy Taylor Swift’s performance during The Eras Tour at SoFi Stadium in Inglewood, California, Aug. 7, 2023. Allen J. Schaben | Los Angeles Times | Getty Images Many Americans have become accustomed to breaking up big purchases with buy now, pay later loans — including tickets for concerts and other live events. Going to…
Johner Images | Johner Images Royalty-free | Getty Images President Donald Trump‘s “big beautiful bill” overhauled the so-called Standard Repayment Plan for federal student loan borrowers. Next year, millions of current borrowers will have access to the changed program. For new borrowers, it will be one of just two options available to pay back their debt. That…
Credit card balances are ticking higher in 2025, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Balances rose by $27 billion in the second quarter to a collective $1.21 trillion — in line with last year’s all-time high. The total is up 2.3% from the previous quarter. At…
UNITED STATES – JULY 29: From left, Chairman Tim Scott, R-S.C., Sen. Tina Smith, D-Minn., and ranking member Sen. Elizabeth Warren, D-Mass., attend the Senate Banking, Housing and Urban Affairs Committee markup of the ROAD to Housing Act, in Dirksen building on Tuesday, July 29, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images) Tom Williams…
About 14% of all U.S. households make $200,000 or more per year, according to 2023 Census data. But a significant salary hasn’t translated to big account balances for some of these consumers — which experts have dubbed “HENRYs,” or “high earners, not rich yet.” Rising costs, debt and lifestyle creep can leave them feeling stuck,…
Westend61 | Westend61 | Getty Images Many engaged couples in the U.S. are relying on forms of credit to pay for their wedding. Experts say that approach can be smart, if done carefully. While 46% of surveyed newlyweds — couples who tied the knot within the past two years — used mostly savings to pay…
Ahead of next week’s Federal Reserve meeting, relations between President Donald Trump and Fed Chair Jerome Powell have hit a low. “Families are being hurt because Interest Rates are too high,” Trump wrote in a Truth Social post on Wednesday. Trump has said he wants the Fed to sharply lower interest rates by as much as 3 percentage points to…
A student student sits in a lecture hall while class is being dismissed at the University of Texas at Austin on February 22, 2024 in Austin, Texas. Brandon Bell | Getty Images What are the new repayment plan’s terms? RAP is what the Education Department calls an “income-driven repayment plan.” Congress created the first IDR…
