A critical tool that allowed millions of Americans to track their student loan forgiveness progress will soon be restored after the Trump administration’s abrupt removal earlier this year. The announcement was made by Senator Elizabeth Warren (D-Mass) last week, who said that U.S. Secretary of Education Linda McMahon confirmed the details to her during a meeting. The move would be welcome news for millions of borrowers who have been left in the dark about where they stand on student loan forgiveness under income-driven repayment plans. And it comes as uncertainty continues to grip much of the federal student loan repayment…

If it feels like financial scams are getting worse, that’s because they are. In 2024 alone, Americans lost a staggering $12.5 billion to fraud—up $2.5 billion from the year before, according to the Federal Trade Commission. With scammers growing more sophisticated by the day, protecting your identity and money is no longer optional. Whether it’s phishing emails, fake investment pitches, or outright identity theft, these schemes are catching millions off guard. But you don’t have to be one of them. Here are five smart habits you can adopt today to guard your financial life in an increasingly risky digital world:…

It is time to repeal the half-century old Budget and Impoundment Control Act, which structures the way Congress writes its fiscal plans. Some elements of the ’74 Act are worth preserving. The Congressional Budget Office was an essential invention, despite the criticism it currently faces. And Congress needs a mechanism to maintain a balance of fiscal power with the executive branch, even if it has been ceding much of that authority recently. But the ’74 law not only has failed to slow spending and tax cuts, it has enabled them. Because Congress has so distorted the law, deficits likely are…

Something as dry-sounding as a Treasury yield might not seem like it impacts your wallet, but it absolutely does. Yields are flashing warning signs about how investors feel about the economy, and the ripple effects are hitting everything from mortgage rates to savings accounts. When investors expect the economy to slow down, they buy safer things like government bonds—which pushes yields lower and signals worry about the future. According to the U.S. Department of the Treasury, the 10-year Treasury yield sits at 4.36% as of June 12, 2025, among the highest levels in recent years. Right now, one of the…

Mastering personal finance is an essential life skill. Beyond managing money, it’s about optimizing what you already have to build wealth and achieve financial freedom. Whether you are just beginning your career or want to enhance your habits, this article discusses seven best practices that can anchor your financial life on stable and productive ground. 1. Always Pay Your Future Self First Before addressing any other expense, prioritize yourself by treating savings as a non-negotiable. Rather than waiting to save what’s left over after expenses, set aside funds immediately upon receiving your paycheck. A simple strategy is to set up…

The introduction of the Saving On a Valuable Education (SAVE) income-driven repayment plan was a major help for consumers with federal student debt. Not only did SAVE raise the income threshold for $0 monthly payments so more borrowers could qualify, but it based monthly payments for undergraduate loans on just 5% of discretionary income (instead of the 10% or more required by other income-driven plans). While the plan wasn’t perfect, it paved the way for lower (or $0) monthly payments for millions of borrowers. Unfortunately, the SAVE plan is going to end, whether through a court ruling, or through the…

Trying to Get First Step Act Right In May, Bureau of Prisons (BOP) distributed a memorandum stating that inmates who have earned 365 days of First Step Act (FSA) credits for prerelease custody are not eligible for additional prerelease time under the Second Chance Act. Further, it stated that those who had shorter sentences, under 4 years, and who had a home to stay in, could only get home confinement under the Second Chance Act. That limitation, 10% of the sentence imposed up to a maximum of 6 months, meant that many minimum and low security inmates would stay in…

For many months, there has been a sense of surprise, sometimes bordering on incredulity, as people forged on even during economic turmoil and uncertainty. They worked, they spent, they paid down debt when pandemic relief funds came in. There’s been a general sense that things were improving, that the economy would have its soft landing. However, that is no longer clear. Consumer sentiment has been sliding on the whole for a while, and some economic data is starting to come in line with how people have been feeling. The Beginning And Possible End Of The Soft Landing An economic soft…

When you file your taxes, one of the biggest decisions is whether you should claim the standard deduction or go through the chore of itemizing your deductions. With the standard deduction of $15,000 for individuals and $30,000 for married couples filing jointly, itemizing requires a significant sum of deductions to make it worth it. But did you know there are “above-the-line” deductions that you can claim even if you claim the standard deduction? Many of these deductions are claimed on Schedule 1 of your Form 1040, which can be a guide to finding these above-the-line deductions. Here are a few…

The Department of Education filed a new update on Tuesday detailing its progress on working through a massive backlog of student loan repayment applications for income-driven repayment plans, as well as requests for PSLF Buyback. The filing shows the department has made a modest dent in IDR applications, although questions and concerns (and tens of thousands of unprocessed applications) remain. Meanwhile, the department appears to have not made much progress reducing the backlog of pending PSLF Buyback applications – in fact, the backlog has grown. The latest filing on behalf of Secretary of Education Linda McMahon is required under an…