Trump Student Loan Transfer: What Student Loan Borrowers Need To Know President Donald Trump has directed that the federal student loan program – a portfolio of roughly $1.6 trillion owed by 43 million borrowers – be shifted from the Education Department to the Small Business Administration. Announcing the move in the Oval Office, Trump said, “I’ve decided that the SBA… will handle all of the student loan portfolios… [out of] the Department of Education immediately”, adding that SBA Administrator Kelly Loeffler and her team are “all set” and that the federal loan program will “be serviced much better than it…

As a financial advisor, I have set my eyes on thousands of portfolios—but none as compelling or meaningful as the one Dr. Meir Statman described to me. In our recent conversation to discuss his newest book, A Wealth of Well-Being, the behavioral finance professor at Santa Clara University referenced a portfolio not simply consisting of financial assets, but a portfolio of life. Like any good portfolio, it is purposefully diversified, but the asset classes are far broader than those we typically think of populating a 401(k) account. The portfolio of life consists of four types of capital: Financial Capital Social…

DOGE may be an acronym for the Department of Government Efficiency, but it is far from efficient in its plans to cut up to 25% of the IRS staff which include significant cuts to the staff of the IRS Criminal Investigations unit. The Criminal Investigation unit of the IRS plays an essential role in combating drug and human trafficking, terrorism, tax crimes, financial crimes and money laundering. Through the Criminal Investigation Unit’s Asset and Investigative Service, it seizes assets used by criminal enterprises and then sends those forfeited funds to the Treasury Forfeiture Fund which returns funds to crime victims,…

The latest jobs numbers were a surprise: 228,000 jobs instead of the expected 140,000. Unemployment went from 4.1% to 4.2%, but that’s deceptive as those are rounded; the actual unemployment rate was flat, going from 4.14% in February to 4.15% in March. What wasn’t surprising was where the new jobs came in and, more importantly for this discussion, where they didn’t. The biggest increases were in healthcare (54,000), social assistance (24,000), retail trade (24,000), and transportation and warehousing (23,000). Manufacturing, however, rose by roughly 1,000 month-over-month. February was up 8,000 over January, which in turn was down 7,000 compared to…

President Donald Trump and Republican officials have made clear in recent months that they want roll back student loan forgiveness, including longstanding programs that historically have had bipartisan support. Programs are being targeted on multiple fronts through executive actions, legal challenges, and legislation. The net result is a heightened degree of uncertainty for millions of student loan borrowers. Many loan forgiveness programs require years of payments before someone can qualify for student debt relief, and borrowers often make key personal and financial decisions premised on the promise of eventual loan forgiveness. But the landscape for borrowers is more volatile than…

Setting financial goals might feel cliché, but without a clear destination, you’re simply drifting—moving without knowing where you’re headed. Taking a little time to write down your financial goals can make a huge difference. Whether it’s building an emergency fund, paying off debt, saving for retirement, starting a business, traveling more, or finally finishing your estate plan, writing them down helps clarify your vision. Be as specific as possible while keeping your expectations reasonable and achievable. Why you’re not alone In today’s economy, not everyone is thriving. Some are living paycheck to paycheck, some are drowning in debt, others are…

New Policies Have Angered Staff and Inmates The Bureau of Prisons (BOP) has been in a tailspin for the past 10 years. Many of the problems the Agency faces are not brought on by the people or leadership, it is neglect in funding and oversight that has put the BOP at the bottom of places to work in the government along with a host of problems. While the central problems have been staffing shortages, aging institutions and a limit in halfway house capacity, new policy decisions are angering both staff and the inmate population. The BOP announced that non-U.S. citizens,…

A Renewed Student Loan Reckoning After a three-year pandemic pause, the student loan system is at a critical inflection point. As payments resume, borrowers face a looming student loan reckoning, with delinquencies surging and credit scores plunging​. The White House ended the student loan payment pause in October 2024, marking the first time that millions of Americans were required to repay their federal loans in four-and-a-half years. Early data shows fewer than half of borrowers are making payments. Over 9 million borrowers are delinquent and counting. Against this backdrop, one policy expert has proposed a novel solution: Credit borrowers $500…

Tariffs or no tariffs, you need a core holding to carry you through the next 30 years. Our sortable scorecard of 52 Best Buys will take you to it. Buy the dip? That takes some fortitude, when world trade is on the verge of collapse, consumers are frightened and businesses can’t plan anything. The U.S. stock market, as measured by the Vanguard Total Stock Market fund, sank a convulsive 5% yesterday. But don’t see the crash as a buying opportunity, or as a selling opportunity either. Take it as a reminder that your stock portfolio is a long-term asset. Your…

Tom Corley’s research in Rich Habits unveils a surprising revelation that 41% of self-made millionaires share a common origin in poverty, challenging conventional notions about the impact of financial background on future success. The lives of Individuals like Derik Fay, the strategic mind behind 3F Management; Richard Branson, the trailblazer who founded the Virgin Group; and Howard Schultz, the visionary architect of Starbucks SBUX SBUX , lives shed light on how adversity and lack of can serve as a blueprint for financial success. Willingness To Take Risks Corley’s research emphasizes that growing up poor endows individuals with a unique comfort…