Personal Finance

Millions of student loan borrowers will be closer to debt forgiveness after a number of changes the U.S. Department of Education plans to make to the lending system. The Department made the announcement Tuesday, saying it plans to address “historical failures in the administration of the federal student loan programs.” Those changes include reassessing the

Steven Heap/EyeEm/Getty Images It’s finally here: April 18 is the 2021 federal tax filing deadline for most Americans. As of April 8, the IRS had received more than 103 million returns and sent 70 million refunds, totaling over $222 billion. But that still leaves millions to be filed with limited time remaining.  Doug Campbell, a CPA and

urbazon | E+ | Getty Images When the Covid-19 pandemic hit, many Americans felt the financial shock of a sudden drop in income. If the same kind of event were to happen today, many people would still struggle financially, according to a poll conducted by the Bipartisan Policy Center, Funding Our Future coalition and Morning

Nazar_ab | Istock | Getty Images For some women, it appears the pandemic has had a silver lining: Getting started with investing.  Roughly 2 in 5 (42%) current female investors took the plunge either in 2020 or 2021, according to a recent survey from social investing app eToro. And half of all women said they

The Gray Bee Investors researching potential investments during a recent meeting. Mike Scanlan There’s real money on the line for the investing club at St. Benedict’s Preparatory School in Newark, New Jersey. This year, the Gray Bee Investors club — made up of about 15 high school students — is helping make investing decisions for

Woman working at home talks to virtual assistant Martin-dm | E+ | Getty Images Millions of Americans began working remotely or from home during the coronavirus pandemic. Others decided to take the leap amid the “Great Resignation,” start their own business and become their own boss in 2021. But who is able to claim the

Ronnie Kaufman | DigitalVision | Getty Images Some future retirees could end up getting more time to amass a heap of money that won’t be taxed when they or their heirs tap it. Under a provision in a federal retirement bill that cleared the House of Representatives last month, required minimum distributions, or RMDs, from

Student loans remain a substantial hurdle for nearly everyone with a college degree. For those currently struggling under the weight of education debt, President Joe Biden used his executive powers to extend the pause federal student loan payments until September. Nearly 43 million federal borrowers are hoping massive student loan forgiveness might be Biden’s next major move. “We have an opportunity

A person shops for groceries at Lincoln Market on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn borough in New York City. Michael M. Santiago | Getty Images New government inflation data shows prices are surging in one key area – food. Now some states are looking at helping to reduce that

U.S. President Joe Biden. Drew Angerer | Getty Images The Biden administration is moving to make it easier for people who claim they’ve been defrauded by their colleges to get their federal student debt forgiven. Since President Joe Biden has been in office, the U.S. Department of Education has canceled around $2 billion in student

Peopleimages | Istock | Getty Images In just a matter of months, mortgage rates have surged from just over 3% for a 30-year fixed loan to just north of 5%. As potential homebuyers follow those figures, there is one thing they may be overlooking: their credit score. The three-digit number has a big impact on

Asiavision | E+ | Getty Images If you haven’t filed your taxes because you owe money, it may be a costly mistake, financial experts say. That’s because the late filing penalty for federal taxes is 5% of your unpaid balance per month capped at 25%, whereas the late payment fee is 0.5%, said certified financial planner Larry Harris, director

A driver uses the Uber app to drop off a passenger. Chris J. Ratcliffe | Bloomberg via Getty Images When Sergio Avedian, 55, started driving full time for Uber and Lyft in 2016, he used to make $3,000 a week. “Now, it’s impossible to make that kind of money,” he said. Coming out of the

The Biden administration has grappled with ending the pause on loan payments as the economy’s recovery from pandemic lows continues. Jose M. Osorio | Tribune News Service | Getty Images The U.S. Department of Education has extended the payment pause on federal student loans for the sixth time since the pandemic began more than two

Monty Rakusen | Image Source | Getty Images Most employees like working from home. Interns largely don’t share that sentiment. To that point, 70% of interns view remote work negatively, according to Glassdoor, a career site. Meanwhile, that’s true for 40% of part-time and full-time employees, a much smaller share. The discrepancy suggests that employers

Cecilie_arcurs | E+ | Getty Images Two of every 5 workers who switched jobs over the past year are looking for work again, according to a new survey published by Grant Thornton, a consulting firm. These workers will likely account for a good deal of churn in the labor market as the so-called Great Resignation

Tommaso Boddi | Getty Images Entertainment | Getty Images Americans are stressed and anxious about money of late. Being mindful can help, according to wellness expert Deepak Chopra. Some 52% of U.S. adults are under more financial stress than a year ago, according to a CNBC + Acorns Invest in You survey conducted by Momentive.

Inflation is surging — and if it keeps up, Americans may start nixing their travel plans. Some 40% of U.S. adults said they would cancel a vacation or trip if consumer prices continue to rise, according to a new CNBC + Acorns Invest in You survey, conducted by Momentive. The online poll was taken March

In this article TREE Anchiy Tax Day is swiftly approaching, and for most filers that means a refund is also likely on the way. This year, many taxpayers are planning to save any refunds they receive in an effort to boost their personal wealth. Some 46% of people plan to save their refunds, according to

Carla Osborn, second from left, with her classmates at Clovis Community College in New Mexico. Source: Bob Dart “I didn’t want to give up, but it could have come to the point that I couldn’t afford school,” said Carla Osborn, 31, from Portales, New Mexico. Osborn is studying nursing at Clovis Community College, located in a

bymuratdeniz | iStock | Getty Images There are 10 days until April 18, the tax deadline for most Americans, and the IRS has already sent more than 63 million refunds worth over $204 billion in total, as of April 1, the agency reported Friday. Almost one-third of Americans don’t file until the last minute, according to a

If you’re one of those procrastinators who still hasn’t filed your taxes, you’re not alone. About one-third of Americans wait until the very last minute.  A survey from IPX 1031 finds the most common reason this year for the delay is the belief that if there’s no refund, there’s no rush to file. Nearly one-third

Hinterhaus Productions | Getty Images About 7.7 million Americans count on monthly government checks through a program for low-income seniors or people with disabilities. Supplemental Security Income, or SSI, as it’s known, provided an average benefit of $569 per month as of November. One big change — updating the program’s rules around income from work

A “Now Hiring” advertisement in a store window in Bay Shore, New York, on March 24, 2022. Steve Pfost/Newsday RM via Getty Images Claims for unemployment insurance last week fell to their lowest level in more than 50 years — yet another sign workers are reaping the benefits of a hot labor market. Americans filed

Student Olivia Raymond participates in a personal finance course in her middle school class in West Orange, New Jersey, in February 2020. CNBC Pursuing financial literacy is something that should continue beyond traditional school years, according to several state governors. “We think it’s a lifelong experience,” New Jersey Gov. Phil Murphy told CNBC’s Sharon Epperson

Ting Shen/Bloomberg via Getty Images Most payday loan borrowers aren’t using the lowest-cost repayment option in states where it’s available, perpetuating a cycle of high fees and debt, the Consumer Financial Protection Bureau said Wednesday in a report. In some cases, payday lenders have withheld information about these “no-cost extended repayment plans” from borrowers to

Simonkr | E+ | Getty Images For most Americans, reaching retirement with a large enough nest egg requires decades of planning, as well as consistent and adequate saving. Figuring out where to begin — or if you’re on the right track at any age — can be confusing and daunting. How much to save for

Xinhua News Agency | Xinhua News Agency | Getty Images The Biden administration plans to announce another extension to the payment pause for federal student loan borrowers, sources tell CNBC. The pause is likely to last through August. This would be the sixth extension of the break, which has now spanned two presidencies. Currently, the

Edwin Lopez sorts the money in the cash register at Frankie’s Pizza on January 12, 2022 in Miami, Florida. Joe Raedle | Getty Images As inflation continues to weigh on American households, people are plotting what they’ll cut from their budgets in the coming months to keep spending in check. More than 50% of adults

VALERIE MACON | AFP | Getty Images Social Security beneficiaries soon will have one more way to seek assistance from the government agency as local offices are slated to reopen this week. Starting Thursday, April 7, the Social Security Administration will restore in-person services, including for people who do not have appointments, acting Social Security