The Trump administration this week proposed sweeping new restrictions on student loan forgiveness for public service borrowers, potentially threatening to shut down debt relief for millions of people based on the activities of the organizations they work for. The newly unveiled regulations would limit relief under the Public Service Loan Forgiveness program, which offers student loan forgiveness for borrowers who devote at least 10 years to working for qualifying nonprofit organizations or government entities. The Department of Education released proposed rules on Tuesday that would block PSLF for entire organizations or governments that the administration determines are engaged in activities…

The tax provisions of the Senate Finance Committee’s draft budget bill would cut household taxes by an average of about $2,600 in 2026, slightly less than the House-passed bill, according to a new Tax Policy Center analysis. About 83 percent of households would have their taxes cut, compared to what they’d pay if the 2017 Tax Cuts and Jobs Act (TCJA) expired as scheduled at the end of this year. However, like its House counterpart, the bill would target most of its benefits to higher-income households. The Senate Finance Committee bill makes scores of changes to the House version. In…

Your wealth-building plan starts with a cushion of highly liquid cash. Some call it precautionary balance, others may use the term “peace-of-mind money,” but most people simply call it savings. Whether your goal is to absorb a job loss, seize investment opportunities, or avoid debt, your savings account (or accounts, because you should have more than one) serves as your baseline for financial success. This article tackles savings accounts and explores key considerations for choosing. Overview Of Savings Accounts A savings account is a secure, interest-bearing deposit product offered by banks, credit unions, and other financial institutions. They are designed…

Nearly four million student loan borrowers are at risk of losing access to affordable payments, as Republican lawmakers move forward to enact sweeping changes to repayment plans and student loan forgiveness programs. One of the major targets of the proposed legislation is Parent PLUS borrowers. Parent PLUS loans are a type of federal student loan issued to the parent of an undergraduate student. While the student is the one who benefits from the loan, their parent is the legal borrower, and the parent is the one responsible for the loan’s repayment. Historically, Parent PLUS loans have had fewer affordable repayment…

Big colleges rake in the most Pell dollars, but a surprising collection of small ones are the most heavily dependent on Pell money. As part of the huge tax and budget cutting package Republicans are rushing through Congress, they’re aiming to reduce Uncle Sam’s spending on college aid by more than $300 billion over the next decade, primarily by overhauling student loans, with reduced borrowing limits, stiffer repayment terms and the end of subsidized student loans for lower income undergraduates. But both the House-passed 2025 budget “reconciliation” bill and the Trump Administration’s 2026 budget proposal, would also take a chunk…

Chase has just announced a big jump in the annual fee for its flagship credit card, the Chase Sapphire Reserve. This financial planner loves to travel and loves for my clients to get the most value from their travel budgets. Keep reading as we share whether this credit card is worth the new fee and how you can potentially stretch your travel dollars with the new card benefits. My first reaction was to call and cancel my Sapphire Reserve when I heard that Chase was asking me to shell out the highest annual fee in the premium credit card market.…

Social Security continues to be in trouble. Pundits and congressional representatives often argue at length about what needs to be done to keep an important safety net that has repeatedly proven its value by reducing poverty. Suggestions include raising the retirement age and cutting benefits. No need to worry about the latter as that will happen automatically in 2033. And yet, it doesn’t need to, as there’s a straightforward solution to the problem. It’s just one that people in Congress seem to dislike. The Growing Problem The recent The 2025 Annual Report of the Board of Trustees of the Federal…

More than 58,000 borrowers who may qualify for student loan forgiveness under a new program and have submitted an application have received no response from the Department of Education, in some cases nearly a year after submission. And the department’s backlog of requests appears to only be increasing. These borrowers have requested relief through the PSLF Buyback program, a relatively new option that allows those who are pursuing Public Service Loan Forgiveness to make a lump sum payment to convert certain forbearance periods (which typically don’t count toward student loan forgiveness) into qualifying months of repayment for the PSLF program.…

If you’re contributing to a 401(k), chances are you’ve been default invested into a retirement target-date mutual fund—and you may not even know what that means. These funds are often the default investment option in employer-sponsored retirement plans. They sound reassuring, with names like “Retirement 2045 Fund,” suggesting that someone has tailored a plan just for your future. But here’s the reality: that comfort may be misleading. These funds aren’t built for you. They’re built for everyone. What Retirement Target-Date Funds Promise—And What They Don’t Deliver Target-date mutual funds (TDFs) simplify investing by automatically adjusting your asset allocation over time.…

The military actions of the U.S. in Iran will have domestic economic implications. The early reactions have already begun. Oil prices jumped by a few percent in the immediate response, but the question now is what happens with the economy? Energy Prices Multiple market experts say that the initial oil price jump was to be expected. Brent oil closed on Friday at $77.01 a barrel. It opened on Monday, June 23, at $80.29. By midday, it was down to roughly $75. This is significantly up from a recent low of $62, however, over the last few years such prices haven’t…