That represents a 17% increase over the number of applications completed at this point during the previous year and a 487% jump compared to two years ago, when the Biden Administration’s botched rollout of a redesigned FAFSA form left millions of families waiting months for processing.

The Department credited the improvement to what it called "the earliest FAFSA launch in history".

The fraud has grown so large that the U.S. Department of Education says it prevented more than $1 billion in attempted student aid theft in 2025 alone. And the problem is getting worse.

The agency will relocate to a smaller federal office one block away, a move that underscores how much the department has shrunk under the Trump administration’s push to dismantle it.

The LBJ building, which sits at 400 Maryland Avenue SW, is now approximately 70% vacant following a reduction in force that cut nearly half of the department’s workforce.

The move is targeted for August 2026.

Starting July 1, loan servicers will issue formal 90-day notices requiring borrowers to switch or be automatically placed on the standard repayment plan. That means the effective end date of the SAVE forbearance will likely be September 30, 2026.

The Washington Post first reported that the Education Department would begin emailing SAVE borrowers on Friday to encourage them to apply for a different repayment plan. Those emails will be followed by formal notices from loan servicers giving borrowers 90 days to choose a new plan or be automatically moved into the standard repayment plan — the most expensive option available, according to three people familiar with the matter.

The Associated Press confirmed the timeline, reporting that the formal 90-day notices from loan servicers will begin on July 1. Borrowers will be contacted in waves, with a new group receiving notice every two weeks. Those enrolled in SAVE the longest will be the first to hear from their servicers.

This aligns with The College Investor's previous SAVE Timeline Predictions of fall 2026.

Here’s a collection of college admissions secrets that can help you craft the ideal college list, get your child into schools they love, and choose one that you’ll be able to afford.

Prepaid tuition plans and 529 college savings plans are specialized savings accounts used for future college costs. Prepaid tuition plans act like defined benefit plans, while 529 plans act like defined contribution plans.

There are other significant similarities and differences between them. Get the details for each to figure out which plan makes more sense for your college needs.

The case, Sweet v. McMahon, has been working through the courts since 2019 (as a result, the case has changed names a few times: Sweet v. DeVos and Sweet v. Cardona). The settlement, valued at up to $12 billion, set firm deadlines for the Department to process borrower defense to repayment applications. The Department has missed those deadlines and asked for extensions multiple times. So far, those requests have been denied.

During Friday’s hearing before the Ninth Circuit Court of Appeals, Judge Kim McLane Wardlaw offered a blunt assessment: “The time for negotiating is over. You missed your deadline.”

The court is now considering the Department’s motion to stay the settlement while it appeals.

The move, which the administration has branded the “Federal Student Assistance Partnership,” marks a big step forward in dismantling the Education Department in what officials described as the equivalent of the “fifth-largest commercial bank in the United States.”

Under the agreement, Treasury will immediately take over collecting on defaulted student loan debt, using private collection agencies to help borrowers in default enroll in rehabilitation programs or return to good standing.

Treasury will also absorb the operations of FSA’s Default Resolution Group, which manages the Default Management and Collections System (DMCS). In future phases, Treasury would expand to managing non-defaulted loans and potentially other FSA functions, including FAFSA administration.

It's important to realize that Treasury already played a large role in collections, but this is now administrative control of the bigger program.

The framework, informally called “Do No Harm,” sets a new standard: if a program’s graduates earn less than comparable workers who never attended college at all, the program can no longer receive federal loan funding.

The Department of Education has already released preliminary data on nearly 50,000 programs, and the results reveal a clear pattern of which fields are at risk — including some where a college credential is legally required to work in the profession at all.

Remember: It's not just about the degree (like B.S. Business). It's about the program and school (such as University of Vermont, Bachelor's of Science in Plant Sciences). It's individual programs and degrees granted by individual colleges that are at risk.

The quarter ending in December marked the first time many borrower accounts could the threshold for default following the end of the pandemic-era payment pause and the subsequent on-ramp protection period.

While the number is large, FSA noted that it mirrors the default count from December 2019, when 7.7 million recipients with approximately $168 billion in federal student loans were in default. The $12 billion increase in default balances reflects the growth in the overall portfolio during the intervening years.

However, the Department of Education has still continued to pause some collections efforts in light of all the major student loan changes happening.

Although it might not be the most enjoyable financial task, it's a necessary obligation that we each undertake every year. And if you use great tax software, filing taxes doesn’t take as much time as you may dread.

But tax filing time isn’t only about filing returns. There are things you can do today to help you save money on your tax bill, and help you save time on filing.

Here are the best last-minute tax tips to consider this season.

But that progress is overshadowed by a continued delays on IDR loan forgiveness and a growing queue of public servants waiting for PSLF buyback decisions.

The data comes from the latest status report filed in American Federation of Teachers v. U.S. Department of Education, a federal lawsuit spearheaded by the teacher's union that requires the Department to provide monthly updates on its loan servicing operations.

The increase is being driven in part by new deductions signed into law by President Donald Trump that are appearing on returns for the first time.

The IRS released its cumulative filing season statistics through Feb. 27, 2026, comparing them to the same period in 2025. The data covers roughly 51.5 million individual returns received out of approximately 164 million expected before the April 15 deadline.

The findings come at a precarious moment for the nearly 43 million Americans with federal student loans. Major repayment plan changes are underway, millions of borrowers are in or approaching default, and the very oversight designed to catch servicer errors has gone dark.

For an administration that is allegedly focused on reducing waste and fraud, it's concerning that government contractors overseeing a trillion dollar portfolio of loans impacting 43 million Americans are not being closely monitored or held accountable.

The U.S. Court of Appeals for the Eighth Circuit ruled on March 9, 2026 (PDF File) that a lower court wrongly dismissed the Republican states’ lawsuit against the plan, directing the district court to enter a December 2025 settlement agreement that permanently bans the Biden-era income-driven repayment program.

The request to force the joint settlement was one of the alternatives presented in the GOP appeal to the 8th Circuit Court.

Here's what borrowers need to know.

The dispute centers on basic service metrics: how long borrowers wait on hold, how often calls are dropped, how quickly written inquiries are answered, and how satisfied borrowers report being.

For families navigating student loan repayment (especially with all the changes), those details can mean the difference between staying current and slipping into delinquency.

With more than 42 million Americans holding federal student loans totaling over $1.81 trillion, even slight declines in servicing quality can ripple across household budgets.

The latest status report from the U.S. Department of Education reveals that 86,520 PSLF Buyback applications were still pending as of January 31, 2026. During January, only 2,430 buyback applications were decided.

At that pace (and assuming no new applications were submitted) clearing the existing backlog alone would take roughly 35 months. In reality, new requests continue to arrive each month and processing times have varied month-to-month - meaning the wait time could be longer.

For public service workers who have already reached or are near 120 qualifying payments, the numbers suggest a long period of uncertainty.

The findings come from Pew’s 2023-24 Religious Landscape Study, a survey of 36,908 U.S. adults. Because of its large sample size, researchers were able to analyze not only broad religious categories, but also specific denominations within Protestantism and other traditions.

The headline finding: Hindus and Jews stand apart by a wide margin.

The ruling clarifies the legal posture of the case but does not immediately end the administrative forbearance for the roughly 7 million borrowers enrolled in SAVE.

The decision (PDF FIle), issued by Judge John A. Ross of the U.S. District Court for the Eastern District of Missouri, ends the case State of Missouri v. Trump without prejudice and rejects a joint request from the parties to vacate the SAVE rule outright.

The judge notes "that clarity must come from the Department of Education, and not from this Court, which is no longer empowered to weigh the merits of a case that is now moot."

As someone who believes deeply in higher education (and in the value of federal student aid programs that expand opportunity), I also believe in an efficient government where tax dollars are spent purposefully to achieve specific goals.

That’s why these interagency agreements deserve a closer look.

Shifting programs from one federal agency to another does not necessarily make government smaller. It makes it more complex. And if we’re not careful, it may reduce accountability while ignoring the structural reforms that education policy actually needs.

According to the CFPB’s website, a third-party administrator began issuing payments on or about February 13, 2026, from a $100 million fund tied to a 2024 enforcement settlement with Navient, one of the nation’s largest former federal student loan servicers. The case accused the company of steering borrowers into repeated forbearances (temporary pauses on payments) even when they qualified for more affordable income-driven repayment plans.

For affected borrowers, some of whom report receiving checks in the thousands of dollars, the payments represent long-awaited financial relief.

But what you may not realize: The Trump administration could be on track to oversee one of the largest dollar amounts of student loan forgiveness in U.S. history, largely because of repayment programs already written into law.

This projection is not about a new sweeping forgiveness plan. Instead, it reflects the mechanics of existing federal student loan programs (some dating back decades) that are now reaching maturity.

According to reports, senior officials at the Education Department and Treasury Department have been exploring how to offload “high-performing” federal loans to the private market. The discussions, which have allegedly involved finance industry executives and potential buyers, reflect the administration’s broader goal of shrinking the government’s role in student lending and reviving private-sector competition.

This comes after reports earlier this year that Trump wanted the Small Business Administration to take over the student loan portfolio.

The administration is looking at whether privatization could help reduce administrative costs and improve portfolio performance. However, the move could borrower protections, including income-driven repayment options, loan forgiveness programs, and the government’s unique ability to offer flexible hardship relief.

This isn’t the first time the idea has surfaced. The Department of Education chapter in the Project 2025 document proposes reviving the old Federal Family Education Loan (FFEL) program to “privatize all lending programs, including subsidized, unsubsidized, and PLUS loans (both Grad and Parent).”

So what exactly would it mean if federal student loans were sold to private lenders and could it really happen this time? Let’s unpack the latest proposals, political motivations, and potential consequences for borrowers.

The complaint (PDF File), filed February 13, 2026, in federal court in Massachusetts, seeks declaratory and injunctive relief to compel Harvard to provide applicant-level admissions data and internal communications related to race and diversity policies . The government is not seeking monetary damages or revocation of federal funds.

At the center of the dispute is compliance with Title VI of the Civil Rights Act of 1964, which prohibits discrimination on the basis of race in programs receiving federal financial assistance.

The notices, now appearing in some borrowers' portals, state that loan servicers recently conducted a review and made changes based on SAVE administrative forbearance and a 0% interest period. For many, the message comes after nearly a year of confusion and concern over balances that appeared to grow despite federal guidance that interest was paused.

Yet even as the notices roll out, some borrowers say the corrections have not fully appeared in their accounts.

The reality is more complex.

According to the 2025 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (PDF File), the program is facing a structural shortfall. But that does not mean Social Security is disappearing. And for workers in their 20s, 30s and early 40s, the most important questions are different from the ones driving today’s headlines.

Here’s what actually matters.

We wish we could snap our fingers and make your student loans disappear when you can’t pay them (and even when you can). Instead, we’ll have to settle by giving you some advice on how to deal with them while you’re unemployed.

Before we go into it, the first thing you should do when unemployed is apply for unemployment benefits, if you’re eligible. Any income is a step in the right direction when you have bills you need to pay. Look up your state’s unemployment requirements to see if you’re eligible and how much you can get.

After that, you need to make sure your budget is in order and you're still handling your student loan debt.

Here's our advice that will hopefully get you on the right path so you can focus on your job search.

When a college practices front-loading of financial aid, the average grant per recipient decreases after the first year and/or the percentage of students receiving grants decreases.

This means students get smaller grants and/or fewer students get grants. Even if a college keeps the grants unchanged, the net price will increase as college costs increase.

Front-loading of grants causes the mix of grants vs. loans to become less favorable after the freshman year. The family’s share of college costs increases significantly for upperclassmen, even if their ability to pay for college remains unchanged.

It's no secret that the cost of going to college and debt from student loans have significantly increased over the past several decades. Although wages have also gone up, the cost of higher education has increased more than inflation. The average cost of tuition for a four-year private college is $43,775 and $28,238 for public. And what's even scarier is that the most expensive colleges cost over $60,000 per year!

Many potential college students explore community college because it offers cheaper tuition than traditional four-year colleges. In 2024, the average tuition for public community colleges is approximately $5,184 per year for in-state students and $8,806 for out-of-state students.

So while going to a community college is more affordable than other forms of higher education, you still may need to explore student loans for community college to cover the cost.

Saving for college reduces student loan debt at graduation and increases college choice. But it can also affect eligibility for need-based financial aid.

Depending on who owns the 529 plan account, a 529 college savings plan may affect either the income or the assets reported on the Free Application for Federal Student Aid (FAFSA). In this guide, we'll explore how a 529 plan can affect your FAFSA and financial aid eligibility.

Check out the MILMO® Show here to learn more.

Under the new rules, eligible programs generally must run at least 8 weeks but fewer than 15 weeks, and include 150 to 599 clock hours (or certain credit-hour equivalents).

The Department of Education has emphasized that Workforce Pell awards are still Pell Grants - but with a different set of program eligibility rules, not a totally separate pot of money. That matters because it ties Workforce Pell to Pell’s broader budget pressures and to how Pell eligibility is tracked over a student’s lifetime.

How big could the program be? Federal officials have cautioned that it’s hard to estimate because many short-term programs aren’t well captured in federal datasets today. In a Department of Education slide deck (PDF File), ED suggested the number of eligible programs could range from “several hundred to a few thousand,” depending on state decisions and how the final rules land.

For decades, Parent PLUS loans acted as a backstop. When grants, scholarships, and student loans fell short, parents could borrow the rest without limits. Beginning July 1, 2026, that changes. Borrowing caps take effect, and repayment options shrink.

The result: more families will need to rely on parent PLUS loan alternatives.

This article explains what is changing, how private loans compare to Parent PLUS loans, and what families paying for college right now should be thinking about.

There are also a lot of weird indicators for stocks and other odd hypotheses when it comes to stock market performance over time. I thought it would be fun to share a few that have actually been pretty successful over time (there are, of course, thousands of others that are not as successful).

Who knows, maybe there is some subliminal fate driving the performance of the markets.

The claim is easy to repeat and hard to forget. Some versions suggest that elite colleges employ one administrator for every two students, or even several staff members per student. These figures have even made it to Congressional policy debates, opinion pieces, and social media posts, often presented as self-evident proof that colleges have lost control of their staffing.

But when these claims are checked against federal data, they fall apart.

Using enrollment and staffing figures from the National Center for Education Statistics and the Integrated Postsecondary Education Data System, a much different picture emerges.

Across U.S. colleges, and even at Ivy League institutions, students outnumber staff by wide margins. Faculty account for a significant share of employees, and many institutions appear staff-heavy only because they operate hospitals, medical schools, or large research enterprises that serve the public far beyond their student bodies (and usually fund themselves).

Let's dive into the data and see how these rumors fall apart.

Under the updated policy, families earning up to $100,000 annually will continue to pay nothing at all — covering tuition, housing, meals, and other required costs. Families earning between $100,000 and $200,000 will no longer be charged tuition, though they may still have to pay for room and board.

That line is starting to blur.

RISLA (Rhode Island Student Loan Authority), a nonprofit student loan lender based in Rhode Island, has introduced an income-based repayment (IBR) option for borrowers who refinance student loans through the organization. The plan borrows heavily from the "old" IBR framework created in 2009, offering payment flexibility during periods of lower income and forgiveness after decades of repayment.

It is a small but notable shift in a private lending market that has traditionally emphasized fixed monthly payments and faster payoff schedules. As federal student loan policies continue to change, the question is whether other lenders will follow and whether borrowers should welcome them if they do.

Administration officials describe it as the largest expansion of education choice to date, with the potential to steer billions of dollars toward private scholarships and education services outside traditional public school funding streams.

Unlike past education tax benefits aimed directly at families, this credit works by encouraging taxpayers to contribute to nonprofit Scholarship Granting Organizations (SGOs), which then distribute aid to eligible students.

The design is complex and a bit confusing, the rollout will take time, and its impact will vary sharply by state. For families, the key question is not whether the credit exists, but whether and how it will be available where they live.

For most college students, this is the first time really having to budget and manage money on your own. You might not know all the tips and tricks to make your money last. That's what this list is for.

Here's some of the best ideas on how to manage your money and save money in college. These all come from experience. If you have more ideas or suggestions, want to share your hack, or want to tell us how silly these ideas are, leave a comment below!

Let's dive in on the best ways to save money in college!

The April 15th tax filing deadline may bring dread to taxpayers everywhere, but the storm cloud comes with a silver (or dollar-covered) lining.

Last year, nearly 100 million taxpayers received a refund, with the average refund being $3,138. This sizable payday could be the cash you need to set yourself up for financial stability and a growing net worth.

Here are the best ways to save your tax refund.

These services can involve responding to IRS letters, representing you when speaking with the IRS, or even reimbursing you if the tax prep company made a mistake.

I hate dealing with bureaucrats. The thought of spending time in line at the DMV is so repulsive that I tried to pay someone to wait in line for me (the person didn’t show up, so I eventually had to go).

If the DMV causes me this much pain, you can imagine how bad I would feel getting audited by the IRS. I know this is hyperbolic, but being audited sounds like death by 1,000 paper cuts. Which brings me to the crux of this post. Should you get audit protection for your taxes - which is a big upsell of most of the major tax software products out there.

Personally, I put my extra money towards bookkeeping software. I think that’s the better use of the dollar.

However, the peace of mind factor may ultimately push you towards buying audit protection. In that case, I recommend being as smart as possible. Or use H&R Block software to get the most protection for the least cost.

Should you (or I) pay for audit protection for your taxes. You may be surprised that in most cases, I think the answer is no.

The proposal comes amidst criticism from industry trade groups and students about the upcoming loan caps. Under last year’s One Big Beautiful Bill Act, Grad PLUS loans will be eliminated for new borrowers starting July 1, 2026.

In place of the uncapped borrowing for grad school, there will be new limits on Graduate Direct Loans. Those caps depend entirely on whether a program is classified as “graduate” or “professional.”

Persistent myths that do not reflect how the system is actually working right now, and what borrowers should be doing. The result is that several widely shared assumptions about leaving the SAVE plan are simply wrong - and it could be costing you money!

Here are three of the most common myths and what borrowers should understand before making a decision.

Based on an analysis of federal education data, scholarship data, and student loan statistics, most families are paying tens of thousands of dollars out of pocket over the course of a degree - which can come in the form of savings, cash flow, and student loans. Very few families pay nothing for college.

But scholarship applicants can face several potential pitfalls along the way. The odds of winning scholarships are often low, and you must be mindful of scholarship scams, displacement, and scholarship taxes.

By learning how to anticipate and respond to these scholarship gotchas, you can increase your chances of scholarship success. This article guides you through the many considerations you need to make before applying for scholarships, so you can feel more confident throughout the process.

Remember, how you decide to finance your college education is going to be one of the most important decisions you make in your life.

While a lot of students opt for student loans or financial aid packages, that isn’t the only way to pay for college. In this article we’ll dive into how tuition payment plans work, how much they cost, and some things you’ll want to be aware of before you enroll in one.

The goal of creating multiple income streams should be to maximize your potential in each category available to you. If you are just starting out, it really isn’t reasonable to expect you to generate tons of rental income.

However, if you start maximizing your income generating potential through your primary salary, you will find yourself having excess income that you can reinvest to generate additional income streams use different buckets of assets.

Remember, the average millionaire has 7 different income streams. Seven! Here are the most common ones.

When you first start paying off debt, the most important thing is to have a plan. Without a plan, paying off debt can seem like a daunting task, which will quickly deflate any motivation you have to, you know, actually pay off debt.

Having a plan can help you realize that debt is not forever and that it's possible to be debt free. So often, debt feels like a lifetime sentence, but it doesn’t have to be.

As you explore the different types of debt pay-off plans, the debate between the debt snowball vs. debt avalanche is bound to come into play. Each side of the debate makes strong points for their favorite debt repayment strategy. But, which is the best debt payoff method? Let’s take a closer look at how these two strategies compare.

If eliminating some of your debt while simultaneously improving other parts of your financial life are among your goals, this post is for you. It’s time to take back control and kick your debt to the curb.

It can sound like paying off large amounts of debt in a short period of time is impossible - but it's not! You can even pay off $10,000 in debt in just one year. Whether you have student loan debt or credit card debt, there are options.

Here’s how you can pay off $10,000 in debt in one year.

Conventional wisdom tells you that the path you’re supposed to live looks like this:

1. Go to College
2. Get a Good Job
3. Get Married
4. Take out a loan for school, your wedding, a car, furniture, a house
5. Work hard for 30+ years to pay off all the debt you accumulated
6. Maybe you’ll have enough to retire and then again, maybe not

The truth is that there IS another way to live. You don’t have to go the traditional route. After all, you are the one in control of your life. You can do anything you want.

Isn’t that a freeing thought? To know that you’re in the driver’s seat of your own life? For me it is.

One thing that has been on my mind a lot, and that I have begun to work toward, is creating passive income so that my limited time isn’t constantly being exchanged for money. And because I’ve always had a fascination with passive income I’ve really been drilling down on it lately and not only learning more, but taking action.

I think most people could happily live on $50,000 per year (provided they had no debt) so I thought it would be a good idea for you and I to explore some ways to make $50,000 per year without working.

This can be an especially difficult issue to navigate if your loans are discharged while you're attending school, or plan to. And it can happen even if you never planned on asking for a disability discharge.

Here's what to know about disability discharge, and how to navigate your choices if your loans are automatically forgiven.

In a court filing submitted January 14 (PDF File), the department detailed activity from December 1 through December 31, 2025, offering the clearest picture yet of how repayment and forgiveness systems are functioning after months of disruption tied to litigation and a government shutdown.

The report was filed in federal court as part of a lawsuit brought by the American Federation of Teachers, which alleges widespread delays in student loan processing.

One option stands out for many: student loan rehabilitation, a program that allows borrowers to remove the default from their federal loans (and credit report) after a series of on-time payments.

Compared with student loan consolidation, rehabilitation can offer long-term credit benefits, but it also comes with strict rules and timelines that borrowers need to understand before enrolling.

A new report from the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (PDF File) offers one of the clearest pictures yet of what that change could mean for students, families, and lenders.

The analysis finds that millions of future graduate students may face a new financing gap — and that private lenders may not be ready or willing to fill it.

Earlier this year, I was browsing social media and came across an interesting post. Someone asked a pointed question, which seemed particularly relevant as I was in Las Vegas at the time. “What do you need to do to become a billionaire?”

With all of my personal finance and business knowledge, I began to ponder what my top advice would be. I came up with two answers pretty quickly. Here are my thoughts on how to become a billionaire.

If you're thinking about going to business school to get your MBA, you should do so with specific purpose and be working to realize specific benefits. You need to have a specific ROI on the investment in your education.

Is going to business school and getting an MBA worth it? Maybe.

I received my MBA and I can honestly tell you that it was only worth it because it was partially-paid for by my employer. The true out-of-pocket cost of $80,000 would probably not have been worth it.

With that being said, these are the questions that you should answer before pursuing an MBA.

While the thought of incurring student loan debt makes many prospective students reconsider pursuing post-secondary education, the impact of a degree can still outpace the pain of loan debt on future financial well-being as long as the amount is minimized.

A college degree can represent a sound investment in your future earnings. The financial return over a lifetime can make an undergraduate education a good investment - but only if you don't spend too much for it. Yes, college graduates, on average, earn 84% more over their lifetimes compared to just high school graduates.

But what if your career earnings are only $400,000 more than if you didn't go to college, and you spent $100,000 in total on college? Making that extra $300,000 over 40 years of working was a really poor use of that original $100,000. That $100,000 would have grown to over $1,000,000 over that same 40 years if you never spent it on education...

But on the flip side, if you only spend $20,000 in total on college, and earn an extra $400,000 over your lifetime, now, that investment is worthwhile. You basically have doubled your future potential earnings ($20,000 would only grow to $200,000 normally - but your education grew it to $400,000).

Organizing your financial life is the first step to growing wealth, and technology can help you move in the right direction - specifically using budgeting apps and money tracking apps. But with the number of apps mushrooming each day, it can be tough to know which to use.

After testing and using dozens of apps, we’ve got a comprehensive view of what budgeting apps are worth downloading, and which you can safely ignore.

Plus, it's important to think about what you need for a budgeting app or spending tracker? Do you need hard-core budgeting tools, or investment tracking? Are you looking for your credit score? Every budgeting app focuses on a specific niche, and we break down the best budgeting apps we've found any why you should consider using them.

Beginning in 2026, new laws will change how much students and parents can borrow and how those student loans are repaid. The changes are significant, especially for graduate students, professional programs, and families that rely on Parent PLUS loans to close college funding gaps.

Student loan repayment also faces one of the biggest shifts in history.

For families planning for college or graduate school, or those already in repayment on student loans, the next year will be another wild one with updates and changes.

Treasury Secretary Scott Bessent said this week that recent tax law changes could result in tax refunds that are “$1,000 to $2,000” larger for many households when they file their 2025 returns in early 2026.

The White House has echoed that claim, pointing to estimates from Piper Sandler, suggesting the average refund could rise by roughly $1,000 compared with the 2025 filing season. That would put the typical tax refund at about $4,150.

If those projections hold, millions of taxpayers will see more money returned by the IRS - not because taxes suddenly fell during the year, but because they paid too much along the way.

The cost of not being prepared can be high. Students who don’t learn how to manage stress or money early may be more likely to drop out or take longer to finish their degree. Parents often assume their kids already know these skills or will figure them out along the way. But being proactive helps students feel more confident from day one.

According to comments from IRS leadership, the agency is preparing for a filing season that could open around Presidents Day: mid-February 2026. This reflects added workload from new tax law provisions and the need for additional preparation time.

If you're expecting a tax refund, the most common advice is that you should file your tax return as soon as possible. There is no reason to let the government keep your money any longer.

Even if you e-file early, we estimate that the IRS won't start processing your tax return until February 17, 2026. You can see our estimated tax refund calendar to know when you're going to expect your tax refund.

In the past, real estate investing was primarily for investors who easily qualified for loans—usually those in a higher tax bracket. But today’s changing times and technology have made it more accessible to make small investments. We’ve outlined 19 different ways to get your investment started in real estate - well beyond the basics of buy a house and rent it out.

Some are appropriate for beginners, others are more fitting for existing homeowners, and some are suited for deca-millionaires or people with specialized skill sets. No matter who you are, you can invest in real estate with one of these options.

A financial aid appeal is not like a negotiation. It is not like bargaining for a lower price on a car at the car dealership.

Most students lack leverage to get the college to throw out its financial aid rulebook. Good grades and test scores, and strong extracurriculars may get a student into a college, but aren’t enough to earn the student a full scholarship.

To get an increase to your financial aid package, you need to know how to present your financial situation correctly. Merely asking for more money will not work, unless your appeal is supported by documented special circumstances.

A successful financial aid appeal is based on providing the college financial aid administrator with relevant new information about special circumstances that affect your ability to pay for college. In this article, we'll show you how to write a financial aid appeal letter and let you know what supporting documentation to provide.

What? Duct tape has a lot of practical uses, such as reinforcing book bindings, patching holes in backpacks, removing lint and catching bugs.

But, what does duct tape have to do with paying for college? Duck brand duct tape sponsors a $10,000 scholarship for making a prom costume out of duct tape. Visit the stuckatprom.com website for more information.

If that particular scholarship doesn’t help you get out of your sticky situation, then look for scholarships at free scholarship search websites, such as Fastweb.com and the College Board’s Big Future. Just beware of scholarship scams, which charge a fee to apply for a scholarship.

Here are ten other options to help pay for school when you don't have enough financial aid.

There are many ways to save and pay for college, and the absolute best way to do it varies depending on your specific situation. A 529 plan, which is designed to help you with higher education expenses, is a type of tax-advantaged account that allows you to save and invest money.

As long as you withdraw that money for qualified expenses, you can do so without paying taxes on it. However, if you don't use the funds in your 529 plan for qualified education expenses, you may be assessed a tax penalty.

Thankfully, it's fairly straightforward to avoid this 529 plan penalty, as long as you take a few precautionary steps.

Even more startling is that means that you probably know someone who is a millionaire, and you probably live within a stone's throw of other millionaires that you don't know.

The truth is that a lot of millionaires have very specific habits. Traits that make them successful - whether personally or professionally.

Beyond the inspirational, here are five fundamental habits that your millionaire neighbor has but probably isn't telling you.

The fear is understandable. Sticker prices at four-year colleges have climbed for decades, and tuition figures are often presented as unavoidable facts. But the assumption behind those comments — that most families really do pay $30,000 a year out of pocket — is usually wrong.

In reality, the typical college student pays far less than the published price, and many pay very little or nothing at all. A mix of public policy, institutional aid, employer programs, and academic shortcuts quietly lowers the bill for millions of families each year. And even when it comes to actually writing a check, families pay for college using multiple strategies. 

The line between “graduate” and “professional” is now tied to detailed federal definitions and CIP codes, placing programs like physical therapy, occupational therapy, physician assistant studies, speech-language pathology, and social work under the lower graduate limit despite tuition that often exceeds $40,000 a year.

As these changes take effect, a second shift is underway: private lenders are not ready to replace what Grad PLUS once provided. The hesitation is rooted in uncertainty about risk, credit, and the behavioral response of students and institutions.

CPL finds that only 33% of outstanding student loans are being repaid on time, the lowest on-time repayment rate in two decades outside of the formal pandemic pause. The rest are in deferment, forbearance, delinquency, or an income-driven repayment plan requiring no payment.

The share of loans in deferment or forbearance alone has more than doubled since mid-2023 and now accounts for 49% of all loans.

The report filed on December 15, 2025 in federal court was delayed by the October–November government shutdown and covers activity through the end of November. It follows a series of monthly disclosures required by the court after borrower advocates sued, alleging widespread delays and failures in student loan forgiveness processing. The previous report was filed back in September.

The new filing shows that while application processing has picked back up, hundreds of thousands of borrowers are still waiting for decisions about changing repayment plans, and the backlog of those waiting for PSLF buyback has continued to grow.

Every year, as it gets closer to Christmas, I see more and more stories about holiday tipping etiquette and who I should tip. I understand tipping in the hospitality industry. For example, waiters make most of their money on tips, and they have an established custom on what to tip. I don't always agree, and if the service was poor, I tip less, and if the service was great, I tip more.

But with higher inflation, workers having to do more with less, and simply showing your gratitude, let's talk about holiday tipping (and some food for thought on tipping in general).

The challenge is that many borrowers are still fixated on their old payments from 2022 or 2023 and are concerned about what the cost will be in 2025 or 2026.

During SAVE’s administrative forbearance, payments were $0 and before that , they were based on older income data from as early as 2019. That anchoring has left many borrowers with expectations that no longer match current options. Interest has resumed, SAVE is no longer accepting new enrollees, and for new borrowers in 2026, RAP will be the only income-based option.

RAP has many perks, but the transition isn’t simple. Understanding how RAP compares with SAVE, PAYE, and IBR can help borrowers plan for the next several years.

While the pattern of stability shows a trend - it's also a reminder that one-in-three college students never finish.

The slight 0.3% dip from the previous year was not driven by a surge in students leaving college altogether. Instead, more students remained enrolled at the six-year mark (9% of the cohort, up 0.4%) suggesting that a portion may still complete in later years. 

The findings come from the latest Yearly Progress and Completion Report, which tracks all first-time students (full-time and part-time) who entered a U.S. degree-granting institution in fall 2019. Completions at any institution count, including after transfer, offering one of the most comprehensive national views of student outcomes.

The announcement, which has been expected for months especially in light of the One Big Beautiful Bill Act also terminating the plan, brings borrowers another step closer to some timelines for resuming payments.

The agreement, filed in federal district court, comes after nearly two years of legal challenges from Missouri and several other states, which argued that the administration exceeded its authority by redesigning the federal income-driven repayment system through executive action. Courts repeatedly halted portions of SAVE and, earlier this year, blocked the program in its entirety, throwing borrowers into a prolonged period of confusion.

Under the proposed settlement, the Department of Education will:

• Stop enrolling new borrowers in SAVE
• Deny all pending applications
• Shift existing enrollees into other legally authorized repayment plans.

The department would also undertake a negotiated rulemaking process to formally repeal SAVE and address related regulatory questions, such as how, when, and where the borrowers in SAVE will be moved.

The settlement still requires judicial approval, but that's expected shortly. It's important to note that the negotiated rulemaking process will determine how and when SAVE is formally removed from federal regulations.

Nobody is born knowing how to handle an inheritance, and few people are prepared to handle one. But if you’ve received an inheritance, you can take a few steps to use the money wisely.

As AI increasingly weaves its way into our lives, we are entering a new phase of college admissions.

More and more, AI has become second nature for students in their schoolwork while concerned teachers and professors try to play catchup. These are major concerns, and bring up issues related to academic integrity, the nature of learning and even fundamental questions like “what is the goal of an education?”. 

These concerns are now front and center in the college admission process, and as a college consultant I hear about them almost daily from concerned students and parents. Freaked out students reach out to me all the time with questions like these: 

“I am not using AI to write but when I plug my essay into an AI checked it says very high levels of AI so I’m nervous :-(“

“I wrote my essay about the hardships about my surgery and an ai detector said it was 96% ai, now I’m worried idk what to do.”

There are extremely important questions at the heart of this:

• Can a student use AI in their college essay or other parts of their application?
• What is appropriate versus inappropriate use of AI?
• Do colleges use AI detectors?
• If so, are they reliable?

And central to it all, can a college reject me if they think, correctly or incorrectly, that I used AI inappropriately on my college application?

Outside of the public sector, lawyers tend to earn more ($120,000 on average). But with a six-figure debt hanging over your head, that six-figure income may not feel like it goes far enough.

Thankfully, practicing lawyers may qualify for a variety of student loan forgiveness plans. Here are the four major loan forgiveness programs for lawyers, and some considerations if you don’t qualify for the plans.

You’ve been accepted to your school of choice and have been awarded a financial aid package. This is certainly an exciting time, but once you open the financial aid award and begin reading, your excitement turns to confusion and frustration.

Welcome to the annual interpreting of your financial aid award. While there are some guidelines for schools to follow when creating financial aid awards, for whatever reason, there aren’t any strict standards on formatting. This often leaves many schools using unfamiliar formats and terminology.

Unfamiliar language and cryptic codes can be found throughout many financial aid awards. Loans and grants can be lumped together. Codes such as “L” or “LN” are sometimes the only indication that an amount is actually a loan. In fact, most financial aid students receive come in the form of student loans.

Additionally, the true cost of attending the school is often underestimated on award letters. This can leave students constantly coming up short on funds to pay for school. 

This guide will walk you through exactly how to read, compare, and evaluate your financial aid award letter, no matter how confusing it looks. We’ll also show you how to spot red flags, determine your real costs, and decide whether you should appeal for more aid.

The guidance, released in a post titled "Myth vs. Fact: The Definition of Professional Degrees", attempts to clarify how the term “professional degree” will be used under President Trump’s One Big Beautiful Bill Act (OBBBA) and why certain nursing programs are not included in the category eligible for the highest borrowing cap.

The answer, the agency insists, has little to do with whether nursing is considered "professional" and everything to do with how federal loan limits have ballooned over time.

Rep. Lloyd Doggett, a longtime Texas Democrat and the ranking member on the House Ways and Means Health Subcommittee, has introduced the Health Savings Accounts (HSA) Consumer Protection Act.

The bill arrives just as millions of Americans are facing some of the largest health care insurance premium increases ever. While HSAs are a great tool to invest and build wealth - their key benefit is to help families afford the high cost of healthcare in America.

Democrats point to a new Government Accountability Office report (PDF File) and other analyses showing HSAs skew heavily toward higher-income, healthier, and disproportionately White and Asian account holders. They also highlight projections that HSAs will reduce federal tax revenues by roughly $180 billion over the next decade.

But it's important to note that wealthier families opt towards HSAs because they have to - not by choice. These plans are typically the cheapest option in the face of ACA penalties. And this potential fix would punish everyone due to changes in qualifying expenses and reimbursement options. 

In short, this proposal is bad for everyone except the government. All it would do is increase taxes for Americans, while providing no benefit to those who are trying to pay for the excessive healthcare costs created by the current healthcare system. It's even bad for health insurance companies and HSA providers, who'll be subject to more record-keeping and potential taxes. It's actually pretty wild to see such a terrible bill proposed.

When you ask a parent what their kids want for Christmas, they’ll likely start with a long sigh followed by, “Well… She really likes K-Pop Demon Hunters and Dress Up.”

If you press further, you’ll find out that the parent is overwhelmed by the toys that the kid has, and they really aren’t all that excited about giving more plastic crap to their kid.

Enter, the gift of stock and investments. Giving a share of stock to kids is a fantastic way to avoid stressing out parents, help prepare a kid for their financial future, and teach a few lessons along the way.

Plus, as a millennial family, I'm personally tired of receiving all this junk. Think about it. Your child might receive upwards of 20 gifts every holiday season (Mom, Dad, Siblings, Grandparents, Santa, etc.). But by the middle of January, what they actually play with is down to 1-2 toys.

So, instead of wasting all that money on gifts (and then having a bunch of junk lying around the house), why not use that same money to invest in your child's future. This is a great option for extended family who may want to gift.

If that's you, then these are the best ways to give a share of stock to a kid, gifting investments, and even teaching them financial literacy topics in a fun way!

So, before I tell the story, think about it:

If a genie appeared and gave you a choice, what you would choose: would you rather have a penny today, that doubled everyday for a month, or $1 million today? 

The fact is, a lot of people get caught up in the initial amounts: $1,000,000.00 versus $0.01.

But let's share the story of the The Grain of Rice, a mathematical fable from India. And then we can break it down.

While some student loan forgiveness programs, like Public Service Loan Forgiveness (PSLF) are tax-free, others - like when you get your student loans discharged under Income-Based Repayment, are potentially taxable. 

However, there's one big exception - insolvency. Insolvency is a tax situation when your liabilities (such as forgiven student loan debt) exceed your assets (like the money in your savings account). If you are technically insolvent, you may avoid some or all of the taxes associated with your loan forgiveness.

That is a big win for borrowers getting their loans forgiven under IBR, PAYE, or ICR. Let's break down what that looks like. 

Even at the most expensive colleges ranked by tuition, room and board adds a significant price.

Recent data show that at public four-year colleges, room and board now accounts for about 45% of total expenses, while tuition makes up less than 36%. At San Diego State University (SDSU), a popular in-state option, tuition is only 25% of the total cost of attendance if you include on-campus living. Room and board, meanwhile, makes up more than 62%.

Let's look at some raw numbers using SDSU as an example:

• In-State Tuition: $9,180
• Out-of-State Tuition: $13,320
• Room and Board: $23,736

It's also important to note that SDSU requires students not in the service area to live on campus for two years. That can really add up!

That gap raises a tough question: Is living on campus worth the price, even more so if you're going into debt?

Only 62% of students who start college earn a degree within 6 years, according to data from the National Student Clearinghouse. That number has held relatively steady, and reminds families of a truth: one in three students don't finish.

As college costs continue to rise, this is an important aspect to plan for. With student loan borrowing rising, the students who struggle the most to repay their debt are the ones that never graduated.

Here's why 38% of students never finish college, and ways that you might be able to protect yourself.

Treasurer Ma shares how her career (from licensed CPA to Assembly Speaker pro Tempore to her current role as Treasurer) has shaped her push to expand economic opportunity. She breaks down what the Treasurer’s office actually does and why the programs it oversees matter for everyday Californians.

From ScholarShare 529, to CalKIDS, to CalABLE, this episode covers how these programs work, who they help, why participation matters, and what changes might be coming. Treasurer Ma also talks about ongoing efforts to introduce tax incentives for 529 contributions, her personal ethos on saving and investing, and the role early savings can play in shaping a child’s educational path.

Thomas Martin joins the conversation to explain CalABLE, a program designed to help people with disabilities save money without jeopardizing important benefits. He shares how CalABLE works, how accounts can support both college and independent living, and how CalABLE and 529 plans can complement one another.

The episode wraps with personal stories and practical advice — including money habits, favorite financial tools, and a myth the Treasurer wishes every Californian would leave behind.

In a court filing (PDF File) this week, the administration said the CFPB cannot seek additional money from the Federal Reserve - its usual source of operating funds. The bureau said it has enough reserves to continue through December but “anticipates exhausting its currently available funds in early 2026.” Without congressional action, that timeline would mark the end of the CFPB’s ability to function.

The Justice Department’s Office of Legal Counsel (OLC) issued the legal opinion underpinning the decision. The OLC argued that under the Dodd-Frank Act, the CFPB can only receive funds from the “combined earnings of the Federal Reserve System.” Because the Fed has posted losses since 2022 (about $77.6 billion last year) the administration contends there are no “earnings” to transfer.

“The Federal Reserve currently lacks combined earnings from which the CFPB can draw,” the opinion stated. If the Federal Reserve has no profits, it cannot transfer money to the CFPB.

That interpretation redefines “combined earnings” to mean net profits rather than total income, a reading that may be up to interpretation. The Supreme Court upheld the CFPB’s funding structure as constitutional in 2024, without adopting that definition. 

What happens next is yet to be seen.

That certainty shifted when the Education Department finalized a regulation allowing the Secretary to declare an employer ineligible if it “has a substantial illegal purpose.” Though the Department says the rule targets organizations that knowingly engage in conduct that violates federal or state law, the standard is broad, unclear, and open to interpretation.

The rule is currently scheduled to take effect July 1, 2026. Borrowers don't have anything they can do to prepare - except to watch and wait...

Although federal law assigns responsibility for these programs to the U.S. Department of Education, U.S. Secretary of Education Linda McMahon is making an end-run around the law by entering into contracts with the other federal agencies to operate the programs under U.S. Department of Education oversight.

These interagency agreements (IAAs) send the six program to the following four agencies:

• U.S. Department of Labor (DOL): Elementary and Secondary Education Partnership and Postsecondary Education Partnership. DOL will be responsible for grants relating to Historically Black Colleges and Universities (HBCUs) and Minority-Serving Institutes (MSIs), as well as grants focused on improving student success for college students
• U.S. Department of the Interior (DOI): Indian Education Partnership
• U.S. Department of Health and Human Services (HHS): Foreign Medical Accreditation Partnership and Child Care Access Means Parents in School (CCAMPIS)
• U.S. Department of State (DOS): International Education and Foreign Language Studies Partnership, including programs administered under the Fulbright-Hays grant

U.S. Department of Education staff who manage these programs will be transferred to the four federal agencies. 

The agreements were signed on September 30, 2025, but not announced until now. It will take several months to transfer the programs to the other federal agencies. 

Few people participated, and even those that did only lasted for a month or two. Nobody went into default as part of this protest.

More recently, after the U.S. Supreme Court blocked President Biden’s broad student loan forgiveness plan, some student loan protestors are once again urging their fellow borrowers to intentionally default on their federal student loans as a form of debt disobedience.

This kind of strategic default on federal student loans was a dumb idea then and it is a dumb idea now.

When a borrower defaults on their federal student loans, the only one hurt is the borrower, not the federal government.

Borrowers can’t force the federal government to forgive their student loans by refusing the repay them. Borrowers have no leverage, not even if they act together as a collective.

Even if the borrowers had some leverage, the U.S. Department of Education does not have the legal authority to forgive student loans, just as it doesn’t have the authority to incarcerate defaulted borrowers. Only Congress has the ability to pass laws to forgive student loan debt.

If your pineapple from Aldi turns out to be rotten, you can get your money back and get a new pineapple for free. 

We’re used to guarantees that protect us from all kinds of minor financial setbacks. Unfortunately, guarantees don't work the same way when it comes to investing.

If you expect a guaranteed return on your investment, your portfolio could end up underperforming (or even worse, you fall victim to an investment scam). Here’s what you need to know about guarantees when it comes to your investments.

Unfortunately, the process of investing in stocks seems shrouded in mystery for many beginners. The good news is that researching stocks doesn’t have to be overwhelming. Like all skills, you’ll need to learn the basics to get started.

If you’ve ever made a mistake on your tax return, you may have the opportunity to correct it. We dive into how to file an amended tax return.

These programs allow students from participating states to attend public colleges in neighboring states at discounted rates. While programs vary, these options offer matching in-state tuition or other big discounts to make college more affordable.

There are four major programs that serve clusters of states:

• Western Undergraduate Exchange (WUE)
• New England Tuition Break (NEBHE)
• Midwest Student Exchange Program (MSEP)
• Souther Regional Education Board's Academic Common Market (ACM)

For many families, understanding these programs can open the door to colleges beyond state lines without the steep price tag.

Trump described the initiative as both a payment to everyone and a tool to reduce the national debt, now approaching $37 trillion. 

This post comes after a tough week for Trump at the Supreme Court, where his tariffs faced skepticism from multiple Supreme Court Justices.

A sweeping set of federal policy changes will reshape how families and graduate students borrow for college starting in 2026. The legislation, passed this summer, eliminates some long-standing loan programs and replaces them with new caps and repayment plans.

While the reforms aim to contain debt growth and improve accountability for colleges, they also mark a clear shift away from the flexible borrowing model that has defined federal student aid for years. 

The Result: fewer borrowing options, stricter limits, and new tradeoffs for both students and parents.

Between rising living costs, disappearing tax credits, health insurance subsidy cliffs, and inflation that still lingers, many millennial and Gen Z households earning well above the median income are wondering: Where is all the money going?

When you combine the math of what these families actually take home with other statistics, like dropping homeownership and lower savings rates, the picture becomes clear: outdated tax policies and benefit cliffs, combined with higher costs of living, are holding families back.

If you or your family have saved money for your education within a 529 plan, you can use those funds to pay for qualified education expenses without tax implications. 

But how about students who opt to attend a trade school instead of a traditional college or university? Can you still use the funds in your 529 to cover college costs?

We explore what the funds in your 529 can be used for, whether apprenticeships are eligible, and share some tips of how to fill any potential funding gaps. 

Under the One Big Beautiful Bill Act (OBBBA), the administration’s sweeping higher-education and tax package, the federal government is tightening who can borrow and how much through programs like Parent PLUS and Grad PLUS. These loans have long been among the government’s most profitable, often taken out by creditworthy parents in the middle or late stage of their careers, or graduate students pursuing high-paying careers like medicine and law.

Now, new borrowing limits and the elimination of Grad PLUS for future students are changing that dynamic. Families and graduate borrowers who once relied on federal programs for large sums may soon find themselves turning to private lenders instead.

It’s a structural shift that accomplishes, in practice, what privatization would have done politically: it moves the most lucrative borrowers (and the profits that come with them) into the private market, while leaving the federal government with the less profitable parts of the student loan portfolio.

Starting July 1, 2026, all new federal student loan borrowers will only have two options: the revised Standard Plan or the newly introduced Repayment Assistance Plan (RAP). For current borrowers, the transition comes between 2026 and 2028, when legacy plans like SAVE, PAYE, and ICR will be phased out and borrowers will be forced to move into either the RAP plan, or the IBR plan.

The RAP plan calculates monthly payments on a sliding scale, ranging from 1% to 10% of adjusted gross income. A key feature is that unpaid interest is forgiven, and a $50 monthly principal match helps chip away at the balance. Loans are forgiven after 30 years of payments.

IBR, the other remaining option for existing borrowers, retains most of the features of Old and New IBR, depending on loan origination date. Those with loans from before July 1, 2014, pay 15% of discretionary income and receive forgiveness after 25 years. Borrowers with loans after July 1, 2014 will pay 10% of discretionary income, with forgiveness at 20 years. Discretionary income is defined as earnings above 150% of the federal poverty level.

• If you receive forgiveness of a federal student loan (or discharge) and no exception applies, the amount may be reported on a Form 1099-C and taxed.
• However, most forgiven student loans from 2021-2025 are excluded from federal income tax. 
• After December 31, 2025, the exclusion will expire, and forgiven amounts may again be taxable. 

However, there are some programs that are always tax free federally. And when it comes to state taxes and student loan forgiveness, there are a whole lot of exceptions.

In a joint status report filed Friday (PDF File) in the U.S. District Court for the District of Columbia, both sides asked Judge Reggie B. Walton to deny, for now, the union’s motions for a preliminary injunction and class certification. Those motions sought immediate relief for borrowers who said they were wrongly denied or delayed in receiving debt cancellation.

The agreement allows the Education Department to continue processing student loan forgiveness under the Income-Based Repayment (IBR), Income-Contingent Repayment (ICR), and Pay As You Earn (PAYE) programs while the lawsuit remains pending.

The AFT had filed suit earlier this year, alleging that the Department was failing to provide legally required repayment plans and loan forgiveness. The lawsuit has a potential impact on millions of borrowers navigating overlapping repayment rules and deadlines.

This is causing consumer confusion, and potentially harming Americans' finances. The overviews were especially bad when it comes to tax, insurance, and financial aid related queries.

What's Happening: Over the last several years, Google has been rolling out AI-driven answers in search results. At the top of the search results they show AI Overviews, and they're now expanding the use of AI Mode. The problem is they are plagued with inaccurate answers. And experts say it's a serious issue.

SAT test prep could be free through online quizzes and books from the library to thousands of dollars for one-on-one tutoring. 

But there are a few complications and opportunities when borrowing and repaying federal student loans for expats. 

Here's what you need to know if you're a U.S. citizen living abroad and you're hoping to take out federal student loans for yourself or for your children.

You are getting the check ready to start the process of paying off your student debt when it hits you that you don’t actually know who owns your student loans or how much you owe exactly?

What to do?

The first step to becoming financially free is figuring out the exact amount of debt you are carrying so you can work towards paying it off.

And since student loans are a debt that affect lives greatly, it is important to know who owns those loans and how much you owe.

How you do that is the topic of this post.

The problem?

Someone already took out student loans in your name and now you, the real you, cannot take out any more money for school.

Education is expensive enough when you take out loans on your own! 

And now you have to deal with a mess somebody made when you were not looking?

Unfortunately, student loan identity theft is a real problem that happens and continues to happen. It's hard to prevent because so much personal information about you is already "out there".

Let's talk about what you can do to prevent this from happening in the first place and what you can do if you find out someone took out student loans in your name.

Hopefully you were able to minimize your use of student loans for living expenses while you were in college. Now it's time to take a look at how to handle your living expenses as you start to repay your student loans.

The good news is that there are plenty of options to fit your student loan payments into your ongoing budget. The important part is to make sure that you are proactive and reasonable about how you will handle your basic living expenses during your student loan repayment.

By participating in these programs, eligible borrowers can have their student loans forgiven or significantly reduced after meeting specific requirements. However, the onus is always on the borrower to make sure they find, apply, and maintain eligibility for these programs.

Here’s what you need to know about the different ways to get nonprofit student loan forgiveness.

After chatting for a bit, I got around to asking him what made him so interested in the topic. He seemed like he was doing well enough. He definitely had some investable funds, was on his way to retirement, and everything seemed good.

He told me - "I feel like my advisor isn't steering me in the right path based on what I read online on sites like yours." I asked him to elaborate a little bit for me.

He said - "My advisor consistently talks about how he's the top performer in North Carolina. However, everywhere I read online says to invest with low cost Vanguard funds. When I mention that to him, he changes the subject or diverts to other topics. It makes me feel off..."

Beyond the fact that you shouldn't feel this way with a financial advisor, I firmly believe that your financial advisor should be very transparent with costs for you. When this reader shared his portfolio with me, I was so sad...

No one buys an investment with the expectation that it will lose money. But tax-loss harvesting provides a unique opportunity to benefit from downturns when they occur. 

Through tax-loss harvesting, you can use losing investments to offset your realized capital gains and/or some of your ordinary taxable income. Keep reading to learn all about how it works!

But while eliminating your student loans is an admirable goal, some sacrifices aren't worth it. For example, if you’re considering using your 401(k) to pay off your student loans, you may want to reconsider.

In this article, we cover the various 401(k) taxes and penalties, and present some alternative ways to eliminate your student loans.

Tack on grad school costs in case you want to advance your nursing career and you could be looking at around $60,000 in student loan debt.

Even if you do get a well-paying job as most nurses tend to get once they are out of school, a $60,000 loan hanging over your head is still stressful considering that paying back student loans will not be the only responsibility you have after you graduate.

If you are a nurse or healthcare worker who would really like those pesky student loans gone for good, this post is for you. In today’s post, we will provide you with some great resources that will help you get most if not all of your loans forgiven.

This guide is specific to nurses, but you might also find this guide helpful: 80 Ways To Get Student Loan Forgiveness. Let's dive in!

During the pandemic, however, the payment pause and interest waiver has caused the federal government to lose money on federal student loans, regardless of the method used to calculate the subsidy rates. By forgoing nearly $5 billion a month in interest, the federal student loan program swung from a profit to a loss even in the most optimistic of projections. 

Let’s take a tour of how the federal government’s budget calculates the subsidy rates for various federal programs. But, before we do this, let’s review the concept of net present value accounting.

In fact, about one-third of college students transfer schools at some point before finishing their degree. And total transfers represented over 13% of all continuing and returning undergraduates last year.

This article walks through the top reasons students choose to transfer, how to identify when the time is right, and what to do to set yourself up for success at a new school.

Beginning January 1, 2026, employees age 50 or older who earn more than $145,000 in the prior year will no longer be able to make pre-tax catch-up contributions to 401(k), 403(b), or 457(b) plans. Instead, these contributions must go into a Roth account, meaning they’ll be taxed upfront but grow and withdraw tax-free later.

The change stems from the SECURE 2.0 Act, which included dozens of provisions designed to expand retirement savings and modernize plan administration. The Roth catch-up rule was one of the most debated, prompting the IRS to delay its start date from 2024 to 2026 to give employers time to update payroll systems and plan documents.

In fact, just this month we've seen solo 401k plan providers update their plans to provide more options as well!

The buyback provision was introduced to address this gap. It allows borrowers to make a lump-sum payment covering past periods of deferment or forbearance, effectively turning those months into qualifying payments. For someone sitting at 117 or 118 payments, buyback could push them over the forgiveness threshold.

In theory, it’s a practical fix for years of technical disqualification. In practice, the process is opaque and there's currently a backlog of 74,000 PSLF buyback requests while the Department of Education is only processing about 5,000 per month.

Under earlier rules, consolidating wiped out your progress entirely, resetting your PSLF payment count to zero. Then came a one-time PSLF waiver, which let borrowers lock in the highest count from any loan - a major win for those with older debts.

That waiver ended in 2023. Now, as of Sept. 1, 2024, the Department of Education has adopted the weighted average rule as the default. This new rule assigns a weighted average of your PSLF payment count to your new consolidation loan.

Last month, AFT filed an amended complaint seeking to certify the case as a class action, potentially extending relief nationwide to impacted borrowers. If granted, the preliminary injunction could force ED to resume processing applications and cancel loans under longstanding repayment and loan forgiveness programs.

Meanwhile, the Department insists its pause was necessary to comply with litigation, and earlier this week began processing IBR-based student loan forgiveness again.

Before you get overwhelmed, remember three things:

1. You never have to pay to manage federal student loans. Enrollment in student loan repayment plans or loan forgiveness programs is always free at StudentAid.gov.
2. Never share your FSA ID. That login is your digital signature. Handing it over is like giving someone power of attorney on your finances.
3. Verify everything at the source. Ignore texts, ads, or calls. Log in at StudentAid.gov or call your loan servicer using the number listed in your secure dashboard.

This guide breaks down the most common scams in 2025, the red flags to watch for, and exactly what to do if you think you’ve been targeted.

In partnership with Cash App, let’s break down the most common types of banking scams, how people are falling victim, and how Cash App is helping users stay safe.

With artificial intelligence and machine learning analyzing transactions almost instantly, the app's system flags suspicious activity and provides users with immediate alerts. It's a safeguard that has helped Cash App users avoid losses that often result from peer-to-peer payment scams.

The emails, which many borrowers referred to as “golden letters,” confirmed that the borrowers had met the timeline required for loan forgiveness, and that the Department of Education would begin the process of loan forgiveness. 

Credit unions are cooperative financial institutions owned by their members — the people who use their services. Instead of aiming to generate profits for shareholders, they return earnings to members in the form of lower loan rates, reduced fees, and sometimes higher savings rates.

Membership is typically based on a “common bond.” This can mean working in a certain profession, living in a specific area, or being related to someone who is already a member. In practice, eligibility requirements are broad, and many people can qualify without difficulty.

Like banks, credit unions are safe. Deposits are insured up to $250,000 per account by the National Credit Union Administration (NCUA) (unless you happen to be in one of these states that allow credit unions NOT to be NCUA insured), just as banks are covered by the Federal Deposit Insurance Corporation (FDIC).

In July 2025, 29% of federal student loan borrowers in repayment, or about 5.4 million people, were at least 90 days behind on payments. While this figure is slightly lower than the April 2025 peak of 31%, it marks the fifth consecutive month with more than five million borrowers past due.

The modest improvement suggests that some households are managing to catch up, but the overall level of delinquency remains historically high. For comparison, delinquency rates prior to the pandemic hovered around 10% to 15%, depending on income and loan type, according to The College Investor's Student Loan Statistics.

“While the percentage of federal student loan borrowers who are seriously delinquent has slightly subsided in recent months, it continues to remain decidedly elevated,” said Michele Raneri, vice president and head of U.S. research and consulting at TransUnion, in a statement. 

The proportion of borrowers in serious delinquency is extremely elevated, and once they reach 270 days, they will be in default and face wage garnishments, tax offsets, and more. This comes right before tax season, when millions of Americans will be depending on their tax refunds.

The Department of Education, of course, has been very forceful in their messaging encouraging borrowers in SAVE to change repayment plans now. On the other hand, the One Big Beautiful Bill Act (OBBBA) gave a more measured timeline - possibly until 2028 to make the switch. Furthermore, the OBBBA implemented a new repayment plan called the Repayment Assistance Plan (RAP), but that doesn't go live until 2026.

Nelnet, one of the major loan servicers, has even started moving borrower's SAVE forbearance dates out until 2028.

The uncertainty has left many borrowers asking the same question: should I leave SAVE now, or wait to see what happens? For most, the choice depends on financial circumstances, forgiveness timelines, and long-term repayment goals. But it would be rare for any borrower to want to stick around until 2028. Most should have a clear path no later than mid-2026.

There have been 20 "funding gaps" and 4 full government shutdowns in the last 50 years. The last shutdown happened in December 2018 and January 2019. But the threat of a shutdown seems to loom every budget cycle.

Well, it really depends on what happens. For short government shutdowns (which might last the weekend or a few days into the week), nothing. For longer shutdowns (like we saw in 2013 or 2018), all the good stuff our government offers - like national parks, military death benefits, etc - stop, but all the "bad stuff" our government does, like collect taxes, and deal with student loans, keeps on keepin' on.

In fact, the Department of Education has a detailed government shutdown contingency plan (PDF File) because this happens often enough. This is from the last potential shutdown, but we would expect a similar plan this year.

As of right now, the last day that the government is funded through is September 30, 2025. So the earliest the government would shut down is October 1, 2025. As of today, it appears this might happen.

If you're curious about how the government shutdown will affect your investments, check out this article. However, one area that has not been discussed at great length is the impact that this shutdown will have on your student loans.

Ivy League schools are an elite group of eight private universities based in the northeastern U.S., best characterized by their historical campuses, rigorous academic programs, and strong alumni networks.

From explaining the term “Ivy League” to discussing the current global influence of this network of schools, we’ll walk you through the history of Ivy Leagues over time, including how they’ve impacted higher education and how relevant they are in the current age of expanding access to college.

But getting started with budgeting can feel intimidating. Between your bills, subscriptions, and in-person purchases, how in the world do you go about tracking all your expenses throughout the month? Learning how to create a budget may seem like more work than it’s worth.

But don’t give up on budgeting before you even start. With the right strategy and budgeting tools, building a budget may be a lot easier than you think. In this guide, we give step-by-step instructions on how to create a budget that actually works.

Despite these advantages, some families hesitate to commit. Concerns about what happens if a child does not attend college, limitations on investment choices, or uncertainty about future expenses push some parents to explore other options.

Alternatives such as UGMA/UTMA custodial accounts, Roth IRAs, or savings bonds can provide more flexibility. However, each comes with tradeoffs that influence financial aid eligibility, tax treatment, and long-term wealth planning.

Here are the main 529 plan alternatives, along with the pros and cons of each.

Reasons range from children receiving scholarships, choosing lower-cost schools, finishing degrees early, or even deciding not to attend college at all.

While funds in a 529 plan don’t expire, spending them on non-education costs generally triggers taxes and a 10% penalty on the earnings portion. Some states may levy a penalty as well! 

The good news is that families now have more ways than ever to use extra funds without losing the tax advantages.

The backlog now stands at 1,076,266, down significantly from nearly 2 million in the spring. For borrowers, this means faster processing of applications that determine monthly payment amounts and eligibility for long-term student loan forgiveness.

PSLF buyback processing also saw it's best month yet, with 5,400 PSLF buyback requests processed. However, the backlog of buyback requests still grew, highlighting that progress on this front is slow.

The improved processing signals that the Department may be allocating more resources to address longstanding delays. Still, over a million cases remain undecided, and how quickly the agency can sustain this pace remains a pressing question, especially as new repayment programs such as the Repayment Assistance Plan (RAP) are set to launch in 2026.

The filing follows a timeline in which the Department froze processing of IDR applications for months, leaving a backlog that started at two million borrowers, but still is blocking more than one million borrowers. The AFT argues that even as processing resumed, the Department has effectively blocked forgiveness by halting loan forgiveness under IDR plans and allowing a separate PSLF Buyback backlog to climb above 74,000 applications.

The complaint alleges these delays and denials violate federal statutes that require the government to offer affordable repayment options and cancel loans after 20 or 25 years of repayment, or after ten years of public service. The union is pressing the court to enforce these obligations before the end of the year, when the student loan tax bomb resumes.

But do NOT treat AI as a final authority. AI systems can “hallucinate” - inventing scholarship names, deadlines, or amounts that don’t exist. That risk makes verification essential.

Students should always cross-check opportunities against reliable scholarship search tools, such as the College Board’s Scholarship Search, Fastweb, Scholarships360, or state higher education portals.

Used correctly, AI can save hours of sifting through generic search results. Used carelessly, it can mislead students into chasing fake or outdated programs, or even get you disqualified from scholarships you might have earned.

Boseman was insanely private, keeping his illness within his tight circle of friends and family. He even married his wife in a secret ceremony before his passing. One thing the star did not do, however, was file a will or trust. 

Here are the six key estate planning documents that most people will eventually need. You might think all you need is a will, but once you understand how everything works, you'll see why you need all these documents and how they work together to ensure your family's needs and your final wishes are met. 

Remember, you don't want to end up like Chadwick Boseman's family.

If you don’t have a robust estate plan, keep reading to find out what you need.

Given the current cost of higher education, college students need all the help they can get when paying for college. There are a variety of different ways to pay for college, including paying your own way, scholarships, grants, and student loans.

Nearly all forms of financial aid start with filling out the Free Application for Federal Student Aid (FAFSA) form that is made available by the U.S. government. And one of the key sections of the FAFSA form is determining whether you are a dependent or independent student.

Here's what you need to know.

There are also federal income tax advantages for saving for college through 529 college savings plans, Coverdell Education Savings Accounts, and the Education Savings Bond Program. And some states provide state income tax deductions or tax credits based on contributions to 529 plans.

Going to college is getting more expensive every year. But by taking advantage of as many tax breaks for tuition and student loans as you can, you can effectively reduce the overall cost of your post-secondary education. Here are the credits and deductions that you should be aware of.

Do your student loans die with you (meaning your family is free and clear), or will someone else have to experience the burden of your student loan debt? Are student loans forgiven at death?

It's important to know what will happen — because if you don't follow these steps, your family could be liable for your student loans.

But can the President claw back student loan forgiveness that has already been granted?

It's sparked a lot of concern in recent weeks, especially as President Biden has continued to propose new student loan forgiveness plans and already has set a record during his presidency for the most student loan forgiven.

As of November 2024, President Biden has provided $175 billion in student loan forgiveness for 4.6 million borrowers, more than any previous president.

For borrowers that have already received forgiveness, the question looms:

Could Trump claw back student loan forgiveness that has already been granted? The answer is generally no.

Let's break it down and learn why past loan forgiveness is likely protected, but future loan forgiveness could be in jeopardy.

You've heard of money making ideas like starting a blog or starting a business, but those ideas take time. While they have great long term potential to earn extra money, sometimes you need to earn that extra money fast. And it can be hard to find ideas where you can actually do that.

Maybe you have a bill coming due, or you're looking for some extra cash pretty quick to do a fun activity. No matter what the reason, you need to remember that there are ways to make money quickly. And if you like quick money, make sure that you check out our guide to How To Get Free Money (yes, potentially $1000s).

However, when it comes to quick money, you should know that it's not great money. These ideas are real, they work, but they won't make you a millionaire by any means. They will help you close a small gap in your budget or earn a little extra when you need it.

You can also check out our 10 Best Money Making Apps if you want mobile access to making money!

I want you to read that again: The only way I see myself escaping my student loan debt is to kill myself.

Reading that sentence gets me emotional. I can sense the pain. I can feel the despair in the words. It creates a tightness in my chest as I hold back tears thinking about what that means. You can sense the burden that is on her shoulders thinking that the only way out is to end her life. Isn't that the most horrible thing you've read?

You want to know something, though? I've read that sentence twice this year talking to readers here on this site.

And the truth is that there are many more people out there than the two readers that reached out to me. People that we haven't necessarily connected with, but maybe will find this article and feel a little weight lifted off their shoulders.

Let's talk.

If you are feeling suicidal, please call the National Suicide Prevention Lifeline at 1-800-273-8255 or text HOME to 741741.

A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary. 

Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no limit on the type of 529 plan where grandparents can make contributions. Grandparents can contribute to grandparent-owned 529 plans, custodial 529 plans, and parent-owned 529 plans. 

Keep in mind that grandparent-owned 529 plans have a different impact on eligibility for need-based financial aid than parent-owned 529 plans. Here's what you need to know if you're interested in a grandparent-owned 520 plan. 

For workers, the appeal is straightforward: earn a paycheck while receiving substantial help with tuition. For employers, tuition assistance programs are a recruitment and retention tool in a competitive labor market.

The average annual benefit is about $5,200, with some companies covering 100 percent of tuition. Starbucks, Walmart, and Papa John’s reimburse all eligible tuition at partner universities. Others, like Microsoft and Goldman Sachs, provide up to $10,000 per year.

In today's world, so many people default to “just ask ChatGPT” for quick answers. But what happens when you do?

I posed two scenarios to ChatGPT. The first was straightforward: $20,000 in federal student loans, with a borrower earning $52,000 a year as a teacher. The second was more complicated: $220,000 in loans across undergraduate, graduate, and private loans, with a $120,000 income as an architect.

The results revealed the pitfalls of using artificial intelligence as a financial resource. 

While the tool offered a basic repayment overview, it also recommended outdated programs and struggled to provide clear answers on loan forgiveness programs like PSLF. Even when it recommended questions to help personalize the output, the questions weren't enough to provide a better answer.

The Department began beta testing of the form in early August, describing it as the "earliest testing phase in FAFSA history". According to officials, more than 1,000 students have already submitted applications during this period, with thousands more expected before the public launch.

For families eager to finalize their college financial aid plans, beta testing provides a chance to get an early start on the FAFSA.

Even though the Federal Pell Grant is a grant that normally does not need to be repaid, you may have to repay all or part of it in certain circumstances. 

And let's face it, even the best students may drop a class here and there. So here's what you need to know about the impact on your financial aid if you drop a class or even drop out.

But this program has also been plagued by years of confusion, regulatory changes, and uneven implementation. The whiplash for some borrowers has been intense. With AI growing in popularity, some student loan borrowers are using it to get answers to technical questions.

But can AI actually be trusted to explain a program as complex as PSLF?

To find out, we posed a series of questions to four leading AI platforms (ChatGPT, Google Gemini, Grok, and Perplexity) ranging from the most basic definition of PSLF to more detailed scenarios. While all four tools correctly explained the basics, most stumbled when asked about nuanced issues such as whether the SAVE plan’s administrative forbearance counts toward forgiveness, whether the new Repayment Assistance Plan (RAP) qualifies, and whether a borrower’s loan must be serviced by MOHELA.

The results show that AI may be useful for simple answers but cannot yet replace official resources or expert guidance when it comes to navigating student loan forgiveness.

Whether student loan forgiveness is processing or not depends on the loan forgiveness program you're waiting on.

The Public Service Loan Forgiveness program is still processing applications, even as a PSLF buyback backlog grows. The Income-Based Repayment plan, or IBR, is temporarily paused for "system updates", but not due to a court order. Student loan forgiveness under SAVE, PAYE, and ICR is blocked by a federal injunction. And even disability discharge is delayed for system updates.

The fact that so many issues are arising around student loan forgiveness processing is leading many to question what's happening. Are "system updates" really happening, or is the new administration slow-walking their legal mandates to provide loan forgiveness for eligible borrowers? It's concerning a lot of borrowers.

While the department has not provided details about how many accounts will move or which servicers will take them, officials did say that this will include some of the PSLF portfolio. “FSA is prioritizing efforts to improve customer service,” Sarah Ursprung, Acting Assistant Secretary for Legislation and Congressional Affairs, wrote in a letter to Senator Elizabeth Warren.

For borrowers, the news brings both relief and apprehension. A change in servicer might resolve long-standing frustrations, but the process of transferring accounts has often been messy in the past.

Borrowers in administrative forbearance under the SAVE (Saving on a Valuable Education) plan know the future now, but they don't know when. The OBBB makes it clear that borrowers in the SAVE forbearance will migrate to amended IBR, or have an option to enroll in the new Repayment Assistance Plan (RAP) in 2026. But the question as to when remains.

When will the SAVE forbearance officially end and borrowers be required to make payments again? Note: This isn't about interest accruing - that's starting back on August 1 and no payments are still due. This is about when payments may resume.

Several scenarios are on table for SAVE repayment resuming

1. ED forces SAVE borrowers into repayment before July 2026: The Department of Education could return borrowers to repayment as soon as December 2025, then still force them to move repayment plans between July 2026 and June 2028. 
2. The Department of Education keeps borrowers in forbearance until migration in mid-2026: The Department of Education simply migrates all borrowers on SAVE to amended IBR by July 2026, coinciding with the RAP plan beginning.
3. Other Timelines: Literally any timeline could happen between December 2025 and June 2028. But it would be rare to keep borrowers in forbearance until 2028, and logistically it would be a nightmare for loan servicers NOT to coordinate with the other changes happening.

The fastest option could see payments start again is the very end of 2025, though it's the least likely, because SAVE is enjoined they cannot simply restart SAVE payments. Our opinion is the highest probability of payments resuming is mid-2026 for SAVE plan borrowers.

Here's a more in-depth look at these three scenarios.

The group’s proposals include creating a new family savings account, fully defunding the CFPB, and eliminating Public Service Loan Forgiveness (PSLF), a program that forgives federal student loan debt for government and nonprofit workers after ten years of qualifying payments.

Supporters of the push are calling it “OBBBA 2.0,” positioning it as an extension of the first package, which was framed by Republicans as a landmark fiscal and cultural win. But the think tank’s ideas face procedural and legal barriers.

The FWS program, created to provide part-time employment for students with financial need, has long given institutions discretion in shaping job opportunities. As recently as 2024, the Department of Education allowed colleges to use FWS employment for voter registration drives or other non-partisan political activity. 

But the new Dear Colleague letter rescinds the previous directives, and makes clear that federal officials expect schools to connect students with work that helps build skills and experience for future employment.

Depending on the college, they may offer a variety of different college meal plans, ranging from pay as you go to an all-inclusive meal plan that covers all of your meals.

However, meal plans are an added expense, so understanding how college meal plans work and whether or not your student will use it is key.

With college costs and student debt on the rise, students and their parents need to think about ways to cut the overall cost of higher education. 

Even if a student wants to attend a four-year university, starting at a two-year university can conservatively lead to five-figure savings. Students who decide against earning a bachelor’s degree can gain a credential (associate’s degree) while spending less time and money than they would in a traditional public university.

However, even some community colleges are now offering bachelor's degrees to compete against 4-year schools.

Whether a student’s goal is to start a career as soon as possible or to earn a bachelor’s degree and beyond, using community college to save money and get ahead can be a smart move. In fact, attending a two-year college may be the most broadly-accessible method to reduce costs while still getting a head start on education.

It's a challenge to cover your tuition and living expenses when you’re a college student on a budget. According to the Education Data Initiative, the average public university loan student borrowed $31,410 to complete their degree.

Using federal loans to pay for a university education may seem like the only answer, but those loans usually have to be repaid. Plus, many people (including international students and people with DACA status) aren’t eligible to fill out the FAFSA.

The FAFSA is set to launch on October 1, and this year marks the second year that parents and students will experience the simplified FAFSA.

The simplified FAFSA cuts down on the number of questions asked, allows you to directly transfer information from your tax returns, and it uses a new “Student Aid Index” instead of the complex Expected Family Contribution.

Divorced parents may see some big changes when they complete the next FAFSA. In this article, I'll explain what divorced parents need to know when it comes to completing the FAFSA.

The survey, which polled more than 2,000 students and parents, shows a steady increase in the percentage of college-bound students prioritizing cost when choosing where or how to pursue higher education. In 2025, 47% listed cost as their most important factor, up from 40% in 2021. Among high school seniors, the figure rose to 54%.

Career outcomes weigh heavily too. 65% of students want a job in a field they care about, 61% seek salaries that support long-term goals, and another 61% aim for stable careers. These numbers have climbed since 2021, when fewer than 55% rated these as top priorities.

While most still plan on a traditional college route, interest in alternatives paths is growing. The share of students considering vocational or trade school as their primary option has tripled since 2021, from 2% to 6%, though still a clear minority.

The Treasury Department’s daily financial report released Tuesday recorded the total at $37,004,818,000,000. This milestone arrived years sooner than expected, with the Congressional Budget Office’s (CBO) pre-pandemic estimates projecting it wouldn’t occur until after fiscal year 2030.

The rapid rise reflects massive borrowing over the past six years. Federal spending surged in response to the Covid-19 pandemic, with emergency stimulus measures, unemployment expansions, and business aid programs passed under both the Trump and Biden administrations. The pace has remained brisk as new tax cuts and spending packages continue to push the debt higher.

The new rule, published today in the Federal Register (PDF File), would allow the Secretary of Education to block PSLF eligibility for organizations determined to have a “substantial illegal purpose.” The definition covers a wide range of activities, from providing medical care to transgender minors to allegedly violating immigration laws or engaging in (or even prohibiting to stop) certain protests.

The rule, slated to take effect July 1, 2026, would not strip existing PSLF participants of past qualifying payments. However, future payments would stop counting if an employer is disqualified under the new criteria.

Let’s put that into perspective, though. Of course, acceptance rates drop when more students are applying, and colleges have largely seen nonstop growth since the mid-twentieth century. There are roughly two million more students enrolled in college today than in 2004 and just over seven million more enrolled today than in 1984. In only four decades, that’s nothing to sneeze at!

And while colleges tend to emphasize the importance of an applicant’s academic performance, extracurricular involvement, and personal essay, there are more covert factors taken into account that are not discussed publicly. Read through these less obvious yet significant aspects that could play a role in your admissions decision.

According to recent court documents (PDF File), the office had 63 employees at the start of the year but now has 25.

As a result, number of unresolved complaints has risen sharply from about 16,000 in March to its current level of over 27,000, and the office continues to receive hundreds of new cases each week.

In May, the most recent month with available figures, the office closed just over 1,100 complaints. At that rate, the backlog could continue to grow for months. Senator Warren has pressed Education Secretary Linda McMahon for details on how the department will address the bottleneck, along with other operational issues stemming from the layoffs.

What makes this surge noteworthy is that it occurred before the full impact of the One Big Beautiful Bill Act (OBBBA). The new law, signed in July 2025, significantly broadens what families can pay for with 529 funds. While historically focused on higher education, 529 plans will soon be able to cover certain workforce training programs, licensing exam fees, and professional credentialing costs. The law also increased what's allowed for elementary education as well.

This expansion has the potential to accelerate account openings and contributions in the second half of the year and beyond, particularly among families who see 529s as a tax-advantaged way to invest in both traditional education and career-focused training.

The SAVE plan, designed to lower monthly payments for millions of federal student loan borrowers, has been blocked by court order since 2024. Under the injunction, the Department of Education cannot resume payments under the plan, leaving roughly 7 to 8 million borrowers in administrative forbearance. Interest on these loans resumed August 1, but no payments are due.

Congress officially ended SAVE as part of the One Big Beautiful Bill Act, signed into law in July, which also created a new Repayment Assistance Plan (RAP) scheduled to begin July 1, 2026. Borrowers currently in SAVE are expected to move to an amended version of Income-Based Repayment (IBR) sometime between now and June 30, 2028, but the exact timing is still unknown.

The next court update is scheduled for October 3. Until then, borrowers remain in a holding pattern, relying on estimated timelines rather than official announcements.

Each tool offered a broad framework: start with federal loans, then consider private loans if needed. Yet critical details were often missing.

In some cases, explanations failed to note that Direct Subsidized Loans require demonstrated financial need. None clearly spelled out federal borrowing limits, an omission that could leave families unprepared if federal aid runs short. Or even specific scenarios or borrowing order (such as borrow the student's Direct Loan first, then supplement with Private or Parent PLUS Loans).

Last year, we discovered that Google's AI was getting financial answers incorrect 43% of the time. 

When it comes to student loan recommendations, the results were better, but there were still key misses in an areas where policy change, interest rates vary, and borrower protections shift frequently.

Let’s face it: the college admissions process is notoriously competitive. Over the past few decades, getting into college has become increasingly difficult, with the average acceptance rate hovering just under 70% across the US.

Gone are the days when admissions officers only looked at a prospective student’s grades and test scores. Now, students face a whole list of factors that schools secretly look for.

Demonstrated interest is on that list. 

If you do it incorrectly, you may owe taxes and a 10% tax penalty, plus recapture of state income tax breaks attributable to the distribution.

If you're getting reading to take 529 plan distributions to pay for college (or K-12 tuition, student loans, or even a Roth IRA rollover), here's what you need to know so you don't end up receiving a tax penalty.

Sorority hashtags and content exploded on social media, as universities eased Covid-19 restrictions and let students resume fall recruitment activities. This was especially true for UA, which is often used as the benchmark for recruitment across the country due to its size and funding.

Earlier this year, Max (formerly HBO Max) released a documentary that examines UA rush through a magnifying glass. Whether you’ve seen the documentary, enthusiastically followed the #BamaRush trend, or you’re simply curious about the price that’s paid for Greek life, this article is a good starting point for learning about the true costs of sorority recruitment.

I’ll break down the rush process, point out its main financial factors, and weigh the pros and cons of taking on Greek life.

Early decision applications involve a commitment to enroll if admitted. In contrast, early action is non-binding.

Students who are admitted early action are not required to accept the offer of admission. They may accept or reject the offer of admission at the same due date as the regular admission pool, typically by May 1. 

Students who apply for early decision are limited to applying to just one college. Students who apply for early action may be limited to applying to just one college, called single-choice early action or restrictive early action. 

In some cases, restrictive early action colleges will allow early action applicants to apply early action to public colleges but not other private non-profit colleges. Some colleges with non-restrictive early action say that they do not share information about their early action applicants with other colleges, allowing the student to apply early action to more than one college. 

Here's a full breakdown of early action vs. early decision vs. regular admission.

Now, that the pandemic is over but there is still a lot of economic uncertainty, and student loans are restarting, more and more adults are wondering if it makes sense to go back to school.

If you're considering going back to school as an adult to earn a higher education degree, you'll want to carefully weigh the pros and cons. Let’s explore whether or not going back to school as an adult may be worth it for your situation.

To qualify for the Public Student Loan Forgiveness, you must have 120 months of qualifying payments made while employed in a qualifying public service job. 

Here's what you need to know.

When crafting a well-balanced college list, students should apply to a variety of colleges, considering financial fit in addition to academic fit. They should also include at least one financial aid safety school and pick three dream schools instead of just one.

Here's how you should craft a college list, with a focus on both academic and financial fit.

Parents of college-bound children who are considering high-cost private non-profit colleges often wonder how to qualify for institutional financial aid. These grants and scholarships may or may not really be based on merit, but rather function as a discount on the cost of attendance.

Students who want to increase their chances of receiving an institutional merit grant at a private non-profit 4-year college should apply to moderately selective colleges (especially higher-cost colleges), have stellar grades and test scores, pick wealthy parents, do not take a gap year and enroll in college full-time.

We look all the statistics of which students are getting institutional merit grants.

If you attended school for HVAC repair, cosmetology, the culinary arts, or any other trade program, your student loans could qualify for one of these student loan forgiveness programs.

We cover the factors that make trade school student loans unique, and how you can figure out whether your trade school loans qualify for loan forgiveness.

Each year, families across the country commit thousands of dollars toward college without fully understanding the terms behind the payment. If a student gets sick or has to take a leave during the semester, even for a serious medical reason, many schools don’t refund tuition. Housing and fees can be nonrefundable. Grants may be forfeited. And student loans may still need to be repaid, even without a completed term to show for it.

That’s why understanding school refund policies and looking into tuition insurance before the semester starts can help families avoid financial stress if a student’s college experience is interrupted. With tuition topping $25,000 a year at many public universities and twice that at private schools, a few hours of research can mean the difference between peace of mind and unexpected debt.

We’re partnering with GradGuard to help you understand how tuition insurance can protect your investment. GradGuard is a leading tuition insurance source, with affordable coverage. Get a quote or learn more here >>

However, there are also more options to have qualifying periods count - thanks to the PSLF buyback program.

If you've been stuck in the SAVE forbearance, served in the military, or paused your payments for economic hardship, you might be closer to loan forgiveness than you think.

But there’s a catch: the buyback program is only available to borrowers who are already near the finish line.

It also raises a question: if you’re just a handful of months away from forgiveness and in forbearance, should you apply for buyback? Or wait and risk getting stuck? Or switch repayment plans and start making payments again?

From laptop spills to missing laundry, a range of common mishaps can cause financial stress. 

In partnership with GradGuard, we’re going to highlight the most common dorm disasters you can face. GradGuard Renters Insurance Plan can help you manage the financial aspect of these disasters and you can make sure that you’re protected financially if something happens. Get a quote here >>

As you settle into dorm life, understanding these risks and how to manage them can prevent bigger problems later on.

Generally, IDR plans will yield lower student loan payments when the borrower’s total student loan debt exceeds their annual income. However, there are ways to decrease the student loan payments even further. 

Monthly student loan payments under IDR plans are based on a percentage of discretionary income. There are legitimate ways of reducing discretionary income and thereby reducing the student loan payment. 

Discretionary income is calculated by subtracting a multiple of the poverty line from Adjusted Gross Income (AGI). Discretionary income may be reduced by reducing AGI or by increasing the applicable poverty line.

Of course, avoid fraudulent tactics like underreporting income or falsely inflating family size, as these carry severe penalties.

Appealing a financial aid award after committing to a school is uncommon, but not impossible. In some cases, families report success in securing more need-based or merit-based aid even after housing contracts are signed and roommates are assigned. Whether that happens depends on the institution’s policies, remaining funds, and the circumstances behind the request.

If enacted, the legislation would limit federal borrowing, end Parent PLUS loans, change repayment options, and reshape Pell Grant eligibility. The changes would primarily affect new borrowers taking out loans after July 1, 2026, but some changes take effect as so as the bill is signed into law.

It's important to remember that this is the first work-up of proposals that are actually in print. Not all of these may make the final bill, and even then, they may change as well. That being said, many of these proposals mimic what was already proposed under the College Cost Reduction Act, and many are popular topics for Republicans. 

Let's break down some of the major proposals (though there are many others as well - the bill is 100+ pages long).

If you’re looking at your repayment plan options - even the shortest term is usually around 10 years. That can seem like forever!

At the same time, looking at these long time frames could also motivate you to see what you can do to get out of student loan debt fast. Luckily, there are a lot of ways to get out of student loan debt fast - it just takes a solid repayment strategy and knowing your options.

We’ve put together a list of ten of the best ways to help you formulate that plan. Remember - this is about paying your student loans faster. Getting aggressive with your student loan debt. These ideas might not work for everyone, or at least not today.

It’s always important to assess your own situation, and then layer in these tactics as you’re able to.

While taking time off before starting college has its benefits, it can also come with consequences. Financial aid is not automatically frozen or held for a year. Depending on the type of aid and the policies of the college, a gap year can mean recalculations, new paperwork, and in some cases, lost money.

Here’s what students and families need to understand about need-based aid, merit scholarships, and what happens if plans change.

Being deferred means your early application wasn’t denied, but it wasn’t accepted either. Instead, the admissions committee will evaluate your application again during the regular decision round, alongside new applicants. This delay gives the college time to compare you to the broader pool and assess updated academic records or accomplishments.

Waitlisting, by contrast, happens after regular decisions are made. It means you met the qualifications for admission, but there wasn’t enough space to offer you a spot. You may be admitted later if enough admitted students decline their offers.

There are many weird stock market indicators that pundits try to use to explain what you should be doing in the stock market at any given time.

There seems to be many ideas that people will suggest to determine your investing strategy including the January-effect, the presidential cycle, which team wins the Super Bowl, and how well stocks will fare.

Over time, the of the stock market are hard to beat, and timing the market is not something that many people can do on a reliable basis.

Based on this month, you may have encountered the "Sell in May and Go Away" philosophy. While it may sound kitschy or superstitious, does this theory actually have any legs? 

He talks about how to think about college costs, making smart student loan decisions, and how to have open and honest conversations with your family about money and education.

We hope you enjoy the episode. If you want to learn more about the Smart College Buyer podcast, check it out on your favorite podcast platform.

From what do I invest in, to how to get started investing, to picking individual stocks, everyone is looking for a magic investment strategy that will make them millionaires overnight.

The truth is that doesn't happen. You invest in stocks because over the long run, investing in the stock market has outperformed other investments. But that doesn't mean you should invest everything in stocks.

Here's how to craft the best investment strategy and why you should always think about your portfolio and all your money as a whole. While we call this the investment strategy by age guide - your age is really subject to your investment time horizon. Check it out on the website.

Maybe you love investing, and at this point nearly all of your money is in the stock market. You know it’s important to diversify, but aren’t sure if real estate investing is right for you. You might think it requires a lot of money up front, or requires a lot of work ongoing.

And while some of that is true, there are new options this year that can make real estate a potential investment for you.

While real estate investing certainly isn’t for everyone, it can be very lucrative. Many people have made millions investing in real estate. If you’re wanting to expand your investment horizons, here are 5 different ways to invest in real estate.

Diversifying an investment portfolio means not putting all your investment dollars into the same asset. 

Some people view a few dozen individual stocks as a diverse investment portfolio. Others want to buy broad-based index funds that represent entire stock markets. And others want bonds, stocks, and cash to keep their portfolio from having too much volatility.

However, diversification can go beyond typical financial assets. Some investors may turn towards alternative investments to augment their portfolios.

Although "alternative investments" are often described as a single group by financial advisors, this asset class represents a diverse array of investment opportunities. But which alternative investments are most popular? Keep reading to find out!

A Roth IRA is one of the best ways to invest for retirement, since the money inside it grows tax-free and in most cases, withdrawals for retirement come without any tax consequences. It can be an especially great way to save for retirement when you're young and your income is relatively low. If you're in a low tax bracket, getting a tax deduction (like for 401(k) or Traditional IRA contributions) won't benefit you nearly as much.

But while the primary use of a Roth IRA is for retirement, there are a couple of other ways that you can withdraw money from your Roth IRA without paying a penalty.

One of those is for qualified higher education expenses. That makes using a Roth IRA to save for college one option to consider.

Financial need is the difference between the college’s annual Cost of Attendance (COA) and the student’s Student Aid Index (SAI).

In some cases, a structured settlement can be used to shelter settlement money from student financial aid formulas. But ultimately the timing of the payments will determine how structured settlements impact financial aid applications. We break down the rules below to help you plan.

If you appealed for additional financial aid, but your appeal was denied, you still have a few options. In this article, we'll let you know what steps you can take to try and secure more financial aid. We'll also provide you with some alternative places to look for money. 

Instead, it often opposes undue hardship petitions. The general reasoning is that the availability of income-driven repayment plans provides sufficient financial relief for borrowers who face severe economic distress.

But is this reasonable, or should the Department of Education allow more student loan discharges in bankruptcy? Below, we discuss what we think, as well as a new bipartisan bill that could significantly change how students loans are handled in bankruptcy courts.

While we don’t usually like to think about it, we’re all going to die someday. Money-savvy folks want to know what happens to their HSAs when they die. Here’s an in-depth look at what happens so you know how to include your HSA in your estate plan.

If you look at their strategies as well, they aren't very difficult or complex - they stick to basic financials of a company and look for value. If they believe there is value, they invest, and make tidy profits!

Some of these names may be very familiar, but others you might not know about! There's no particular order, as all of these individuals have an interesting path to investing over the long run.

Unlike other college savings accounts or financial aid programs, 529 plans do not have time or age limits for contributions or withdrawals. 

However, some states do have different rules that may impact your 529 plan contribution or withdrawal decisions. Remember, since 529 plans are state-based, each state can create their own rules, regardless of what the federal rules say.

The truth is, passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time and hard work these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part.

Speaking from personal experience, adding passive income streams to your portfolio can help you increase your earnings and accelerate your financial goals in tremendous ways. For example, starting a savings account and earning interest, or investing in dividend paying stocks can all start adding income to your life without having to work! Your money is working for you!

For example, you can use passive income streams to help you get out of debt or achieve financial independence sooner. 

Let's get to the passive income ideas!

With a Dynasty 529 Plan, high net-worth parents save more than is required for their children’s college education, meaning, they can continue to save in the plan even after their kids have graduated. A Dynasty 529 Plan benefits from years of tax-free growth before parents tap into it to pay for the costs of college. 

However, passing on a 529 plan to future generations may result in gift taxes and generation-skipping transfer taxes. The 529 plans may also affect eligibility for need-based financial aid. 

Depending on the number of descendants and increases in college costs, a Dynasty 529 Plan might not be enough to pay for the college costs of all future generations. 

According to Sallie How America Pays for College report, 74% of students and families completed the Free Application for Federal Student Aid, or FAFSA for the 2023-2024 school year.

So why are over 25% of students deciding not to apply? They may believe their parents make too much or that they won't qualify for another reason and don't want to waste their time. 

But skipping the FAFSA can leave free money, access to student loans, and other opportunities on the table. 

Even if you don’t think you need it now you might wish you had later on. The FAFSA application window is open now.

Here’s why you should fill out the FAFSA even if you don’t think you’ll receive aid.

It can include college-specific awards, national programs from private scholarship providers, and athletic scholarships.

But while winning a full-ride scholarship is a prestigious accomplishment and significantly eases the cost of paying for college, it's very elusive, with few students winning a full-ride each year. The good news is, there are steps you can take to improve your chances.

For many students and alumni, a college transcript is more than a piece of paper – it’s a gateway to career opportunities, additional education, and professional development. But what happens when a college withholds your transcript? Is it even legal for an institution to do that?

The answer is complicated, yet this is a reality for many who face unpaid debts to their former colleges. Let’s dive into why this happens, the rules governing transcript withholding, and how recent regulatory changes could affect you.

Even though some popular programs like Public Service Loan Forgiveness (PSLF) are tax free federally, every state has a different law regarding state taxes on loan forgiveness.

The American Rescue Plan Act of 2021 added an exclusion from income on federal income tax returns for student loan forgiveness through December 31, 2025 - meaning all types of student loan forgiveness is tax free on the federal level.

But what about state policies for taxing student loan forgiveness? Some states provide tax-free status for student loan forgiveness and some do not. This could be an unexpected tax bomb waiting for some Americans.

Borrower Defense to Repayment can discharge a borrower’s federal student loans when they were defrauded by their college. But what does the Department of Education define as "defrauded"?

With the recent reports of colleges (especially some 'prestigious' ones) providing false information to boost their scores in rankings like US News, and other reports of colleges sending misleading financial aid award letters to make their schools appear less expensive to attend - the question of what is considered fraud extends well beyond the issues that we've seen with for-profit colleges.

Can you qualify for loan forgiveness if your college provided false and misleading information to the college rankings? Can you qualify for student loan forgiveness if your college provided a misleading financial aid award letter? 

The answer is, as is often the case in matters relating to financial aid for college, “it depends.” 

After you're admitted to college, you’ll receive a financial aid package that breaks down your cost of attendance minus any grants, scholarships, or other sources of financial aid you’re eligible for. This financial aid package includes federal student loans.

Many students choose to cover their college expenses with Federal student loans, but it's not the only way (or you may need to borrow more than Federal loans offer). You can also use private student loans. There are pros and cons to consider before going the private route, but it might be the right decision depending on your financial situation.

We explore the differences between federal vs. private student loans and what you should consider before signing on the dotted line.

Individuals can commit a certain amount of money for a specific period of time, and the issuing bank commits to paying a specified rate of interest.

CDs generally have terms ranging from a few months to several years, and usually offer higher yields than savings accounts. But with over $1 trillion in CDs maturing in 2025, investors have some big decisions to make.

A 529 plan can be used for dual enrollment but there are some things you should be mindful of before you withdraw funds from your account.

If you've come into a windfall of money, you might be wondering what is the best way to invest $50,000 (or even more)?

With a large amount of money to invest, you have several different options.

There is no single "right answer" that will work for everyone—instead, what works for you will depend on your own unique situation. But being aware of the different options helps you make the best choice.

And note - there might be some things you want to do before you invest such as paying off debt. Let's talk about some of these options.

Minimizing costs is usually key to maximizing returns, but not always. Sometimes, state income tax breaks can compensate for the cost of 529 plans with higher fees. So, how can you find the best 529 plan for your state and situation?

A more focused analysis of 529 plan portfolio performance net of costs and state income tax breaks yields results that differ from traditional 529 plan ratings.

Let's break it down.

If you don't do anything with your student loans, you're automatically signed up to a generic repayment plan that typically has even payments for 10 years. However, that can be tough, especially right after graduation.

Maybe you've just started working, or maybe you don't even have a job yet and you're just side hustling to make a little money? Maybe that standard repayment plan option just isn't working for you, and you're worried what will happen if you don't make a payment or you default. Maybe you haven't looked at your student loans since before the payment pause?

If you're considering student loan deferment or forbearance, or if you're thinking about simply ignoring your student loan payments, don't!

Here are five legal ways that you can lower your student loan payment so you don't have to go into default.

Who do you trust? Do you pay someone to help? How do you know you're not going to be ripped off? Or even worse - how do you know you won't lose all your money? If you want to invest after college, here are our thoughts.

For 20-somethings, investing is important, and you know it. In your 20s, time is on your side, and the more you save and invest now, the better off you'll be later.

But, frankly, getting started investing after college is confusing. There are so many options, tools, thoughts, blogs to read about, and more. What the heck do you do?

I'm

going to share my thoughts on what you should do to start investing

after college in your twenties when you're 22-29 years old. Let's dive

in.

Depending on the college you're applying to, you may have to submit grade transcripts, test scores, evidence of extracurricular activities, essays, and references. 

But one thing that colleges will almost never ask you about is your high school attendance. It's important to note that many high schools do include attendance information as part of your grade transcript.

However, in almost all cases, colleges will not look at your high school attendance record.

They’d spread papers and receipts across the kitchen table. Then they’d punch numbers in a calculator and flip through the IRS’s annual tax guide until ink coated their fingertips.

Yikes!

Today, thanks to tax software and other innovations, we can do our own taxes with fewer headaches. In fact, doing your own taxes with tax software should likely take you less than an hour (even less if you're organized). And new apps even allow you to do it on your phone!

Here's what you need to know about how to do your own taxes!

If you’re unfamiliar with the term “need-blind,” it refers to an admissions policy in which a college chooses not to consider a student’s financial situation when making the decision on whether to admit that student.

Here’s everything you need to know about need-blind schools and how they might impact your college decision.

So what should you do with these unwanted gifts? Well, not all hope is lost. Here are some ways that you can turn those unwanted Christmas gifts into cash.

Are you ready to earn money from those unwanted gifts?

What should you do with unused financial aid money? Should you spend it or save it for the future? More importantly, can you return it if you don’t need or want it?

Let’s dive deeper into the pros and cons of unused financial aid money and whether or not returning it is the right move to make.

And while many might warn you to prepare yourself for uneven workloads, unclear expectations, and endless group chat notifications, it’s not all bad.

Group projects don’t have to feel like a chore. In fact, they can actually create opportunities to learn essential skills, such as collaboration, leadership, and problem-solving. The secret to success lies in preparation, communication, and strategic planning.

With the right approach, group work can be a rewarding experience for everyone involved – and a chance to deliver results that are better than what you might have achieved on your own.

While post-pandemic applications are up, actual enrollments are down, so right now is as good a time as ever to send in your application.

One huge perk of graduate school is that your career earnings are likely to be higher than if you only had a bachelor's degree.

For 2022, the Bureau of Labor Statistics reported an annual median wage difference of $11,908 (or $229 weekly).

And that’s just the difference between a bachelor’s and a master’s – other professional or doctoral degrees can lead to even higher annual incomes.

Unless you’re an unbanked person, most of your personal and financial information is online.

That means it could be accessible to hackers and thieves who can cause headaches (and financial loss) as you try to clean up their mess.

Keeping your information as secure as possible will help you avoid these headache and keep your finances moving forward.

Whether you’re more worried about nameless hackers, nosy roommates, or kids who want to use your credit cards, here are a few of the best ways to secure your financial information.

At this point, you’re on an information highway that all seems confusing and blurry because of the number of things you have to think about in order to attend college next year.

PSATs, SATs, letters of recommendation, choosing a major, and visiting college campuses are most likely piling up on your agenda — or will be soon.

And hopefully, a year from now, you would have landed that coveted spot at the university of your choice. But how exactly does the college admissions process work? How do you get from here to there?

While it works differently at different colleges, there are common themes that run through the college admissions process and the goal with this post is to show you what you can expect as you go through the process.

A lender (usually a tax preparer) will give you an advance on your tax refund (often up to $3,000). In exchange, the tax preparer will pay the loan back (both principal, interest and fees) when the refund arrives at the preparer’s office. Then the remainder of the refund will then be passed to you. These are some of the pros and cons of taking a tax refund advance loan.

Now, here’s what you need to know about tax refund advances.

Servicing companies collect payments of principal and interest on behalf of the loan holder (the Department of Education in the case of federal loans). In exchange, they're paid a monthly fee for each loan serviced.

So how much do federal student loan servicers make per loan?

According to data from the Department of Education, around seven million borrowers have defaulted on their student loans. Those who are in default could risk having their tax refund seized come tax time.

You might be planning on getting a tax refund in 2025 but if you’re in default on your federal student loans, your refund could be at risk. Here’s what you need to know about how tax refund garnishments work and how to stay out of default to avoid losing your refund.

But will it? Does what college you go to actually matter?

Prestigious schools definitely have some benefits, such as networking opportunities and name recognition on your resume. But do the benefits outweigh the costs?

Public schools and community colleges can both offer a high quality education at a fraction of the cost. But are you giving up opportunities that a name brand school could give you?

Society values education and they may respect education from a prestigious college even more. Is there proof that prestigious universities offer more opportunities and financial footing, or is it just a dream we’re bribed to fall into?

Since the primary contributor to a 529 isn’t the beneficiary of the account, the ownership rules might feel a bit murky.

We get clear on 529 plan ownership rules in this guide. 

But how are you supposed to cash your tax refund check if you don’t have a bank account? Using a check-cashing outlet can involve expensive fees. Plus, it’s risky to walk around with thousands of dollars in cash in neighborhoods that are often dangerous.

Want to avoid excessive fees and keep your cash safe? Here are a few ways to get your tax refund when you don’t have a bank account.

But how about students who opt to attend a trade school instead of a traditional college or university? Can you still use the funds in your 529 to cover college costs.

We explore what the funds in your 529 can be used for, whether apprenticeships are eligible, and share some tips of how to fill any potential funding gaps. 

Several stakeholders share responsibility for this crisis: federal and state governments, educational institutions, loan servicers, private lenders, and even individual borrowers who may not fully grasp the long-term implications of their loans.

Colleges have raised tuition faster than inflation, and government grants have failed to keep pace with increases in college costs, pushing more costs onto students and their families. Loan servicers and lenders have also been criticized for misleading practices, and many borrowers lack access to sufficient financial education before taking on debt.

Solving the student loan problem requires a comprehensive strategy, not a single solution. Addressing the problem will require a multifaceted approach involving policy reforms, simplifying the student loan programs, and better regulation of college costs and lending practices. Additionally, increasing financial literacy can help students make more informed decisions about borrowing and repayment.

Ultimately, understanding the root causes of the student loan problem is key to developing effective and sustainable solutions.

Robert joined the Stacking Benjamin's podcast to discuss AI in Finance, including sharing the results of The College Investor's recent AI Study.

Check out the full interview here!

The truth is: not that much.

One of the most popular "alternatives" to blanket student loan forgiveness has been the argument that the federal student loan interest rate should be set to 0%.

But given the wide array of student loan forgiveness programs and other assistance - does your student loan interest rate really matter?

Let's look at how the interest rate impacts your student loans.

John Burton Advocates for Youth (JBAY) is a nonprofit organization that focuses on improving the lives of youth who have experienced foster care or homelessness. They work on policy advocacy and providing resources to at-risk youth, including stable housing, education, healthcare and financial support. The organization tries to address higher education access, financial aid and foster youth transitions into adulthood.

He talks about financial literacy for teens and parents, the ROI of college, how to think about student loans, 529 plans, and more!

We hope you enjoy the episode. If you want to learn more about the College Ready podcast, check it out on your favorite podcast platform.

After all the effort you’ve put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of that uncertainty and inform your next steps.

We’ll dig into how the college waitlist process works, factors that influence acceptance from a waitlist, and what you can do to improve your chances. We’ll also look at real data from UC Berkeley's 2022 admissions cycle to give you a sense of how waitlist odds play out in reality.

However, it may not be the easiest question to answer, as there are so many variables—many of which are unknown.

You can begin to grasp how much you will need to retire, though, by considering the following questions.

You may have recently experienced a financial hardship and are strongly considering consolidating your debts to relieve some pressure. Before bankruptcy, there are two main debt consolidation options to consider.

The first is a debt consolidation personal loan. This is often for those who still have a good credit score and debt-to-income (DTI) ratio. The second is debt consolidation via debt settlement, which is what we will cover today.

The debt settlement industry has had many companies that have been unscrupulous. In fact, the Consumer Financial Protection Bureau (CFPB) has repeatedly warned borrowers that dealing with debt settlement companies can be risky. Does that mean that all of these companies are bad and you should never work with one?

​Let's look at how debt settlement works, its pros and cons, and the most common scams and red flags of unethical debt settlement companies. Here's what you need to know.

The end of the year can be a whirlwind. But the actions you take over these final months can have large impacts on your tax bill next April and your long-term financial health. 

By taking proactive steps now, you can ensure that your financial life is organized and primed for success as you head into the new year. Wondering which items are most important to add to your end-of-year financial to-do list? Below are nine money moves to make before the new year to boost your bottom line.

As you know, the average cost of tuition has been on an upward trajectory since sometime around the 1980s. College tuition at a public four-year university increased 9.24% between 2010 and 2022, averaging a 12% increase each year in that period. 

Not only does higher tuition mean greater costs for education, but it also means greater likelihood of finding yourself graduating with larger student loans. This is particularly concerning when the average student loan debt of recent graduates is $33,500.

In this episode, I’ll dive into the reasons why opting for an in-state college might prove to be a better long-term decision for you. From location and affordability to in-state benefits and quality of education, I aim to shed light on the advantages of keeping your educational investment in-state.

In light of this spooky season, we’re sharing some scary financial statistics and facts about money that could happen to you. But no need to run screaming, we give you a few recommendations to help you if you’re ever caught in any of these situations.

The help of a tax preparation service can make your life easier and potentially lead to savings on your tax bill, but having to pay up front for tax prep services can feel like a hit to your wallet.

One option is to allow the company to take your tax preparation fees directly from your future tax refund. We explore when it makes sense to pay for tax preparation services, when it doesn't, and the logistics of paying.

With the holiday season on the horizon, you may be juggling the demands of your business while making space to spend time with family and friends.

There are several things you can do by the end of the year to end on a high note and get ready for tax season. With only 12 weeks left, here are some things business owners should do before the end of the year.

money using AI (artificial intelligence). The impact of AI on

freelancing has been the subject of plenty of discussion as artificial

intelligence begins to transform how freelancers operate and get paid. 

With

a wide range of tools available on several platforms, you can now

leverage AI to improve your productivity and provide clients with

cutting-edge solutions.

In this article, we'll explore how AI can be used to perform various side hustles and freelance work, from content writing to affiliate marketing to video creation via YouTube.

If you’re a millennial or Gen Zer, you might have heard people in their 50s and 60s talking about working their way through college and graduating with little debt. Today, that seems impossible. And that has contributed to students graduating with an average of $30,000 in student loan debt.

How much does college cost today? Is it worth it to pay that much for a college degree? Well, we have the data through 2023 (the most recent available), so let's break it down.

In today’s post, we’ll talk about the average cost of a college education over time and how you can get the most for your money as you research and decide on which colleges to attend.

There are various potential benefits and drawbacks to student loan refinancing. So when you're trying to decide if you should refinance your own student loans, there are multiple factors to consider.

The decision will often heavily depend on the type of loan that you have, whether federal or private. If you have federal loans and are currently taking advantage of one or more federal benefits, you might want to avoid refinancing so that you don't lose them.

But even if you aren't currently utilizing any federal student loan benefits, that doesn't necessarily mean that you should rush to refinance your loans right now. Here's how to decide when you should refinance your student loans and how to get the lowest rate when you do.

A decent car is the biggest asset most Americans own, other than their houses. And there are a lot of ways you can make money driving or with your car!  In fact, I've seen some people try to raise fast cash by selling their cars.

But what you might not realize is that there are a lot of other ways to make money using your

car. If you have a car and don't mind driving it around, then you're well on your way to earning hundreds of dollars on the side every month.

This has been true for decades — a paper route or a pizza delivery job has always meant using your own wheels — but the app-based gig economy and the Internet generally has vastly expanded the ease of getting paid to drive your own car. Without further ado, here are some of the best ways to start making money driving your car today.

If you want other money-making ideas, check out our Side Hustle Ideas post.

How much aid a student receives depends on a number of factors including their personal finances. Because many college students receive support from their parents, the entire family’s financial situation is also taken into account as part of the application process.

Filling out the FAFSA correctly is important if you’re expecting to receive financial aid to help pay for college.

Small errors can impact how much you receive or whether or not you receive financial aid at all. These are the 10 biggest FAFSA mistakes you’ll want to avoid.

She asked why she shouldn’t get a private student loan, when interest rates are so low right now. She would need to cosign with her daughter on the loan in order to get the best rate.

My advice was as follows: the biggest danger of a private student loan is that the cosigner is also liable for the debt. So, should something happen to her daughter, and she can’t graduate and earn income, she will be on the hook for the debt.

However, there are options to protect parents when it comes to paying their children’s tuition – tuition insurance.

Below, we’re giving you our best insights into tuition insurance and sharing our top picks for tuition insurance providers.

We recently discussed how to pay down $10,000 in debt in just one year. One of the strategies is to earn more money - but many people don't think they can earn $10,000 extra in just one year.

Today, I'm going to show you some of the more unique ways that you can do it.

In reality, there are countless ways to earn $10,000 more in a year. That breaks down to just $833.33 per month. If you don't like these more extreme ideas, here's a list of 50 ways you can do it more of "the old fashioned" way.

Believe it or not, these have happened. And people can make good money doing it.

With student loan debt balances on the rise, your best bet is to pay off your student loan debt as quickly as possible, or better yet, stop the debt from piling up by taking the preventative measures. 

Many graduates have to put their life on hold because of common student loan mistakes. Avoid making these mistakes and get rid of your student loans in 3 easy steps!

According to USA Today, up to 68% of college graduates enter the workforce with student loan debt. Our study found that the average student loan debt at graduation is roughly $30,000. 

To minimize the impact, follow these 3 simple steps to avoid unnecessary debt from accumulating.

We hope you enjoy the episode, and if you want to learn more about the Money Life Show, check them out on your favorite podcast platform.

Imagine this: One day your boss pulls you into his office, sits you down, and says there is a problem. However, your work itself has been flawless. But he doesn't want to talk to you about work — he wants to talk to you about your credit report.

You see, when you were hired, you agreed to let your employer run your credit report (maybe unknowingly, simply signing a form in your hiring packet). And now, for whatever reason, your boss lets you know that HR has concerns about your debt. Suddenly, you go from star employee to looking for a job.

You already know that student loans suck. It's a fact of life. But did you know that your student loan debt can get you fired? It's happened, and here are eight reasons why, and what you can do to prevent it.

Many parents, accustomed to having access to their child’s academic records throughout high school, are surprised when they no longer have the same access once their child enters college. As a result, some parents may consider requesting – or even pressuring – their child to sign a FERPA waiver. But is this a good idea?

We’ll explore the nuances of FERPA, the implications of signing a waiver, and the potential consequences of forcing a college student to comply.

These students are often academically talented and likely to be admitted.¹ ² Still, many end up at less-selective colleges, such as lower-cost public colleges and community colleges. Some don’t enroll in any college at all.

Public policy advocates have claimed that very selective colleges are more affordable for low-income students, despite the higher cost of attendance. For example, Matthew M. Chingos wrote in a Brookings Institution article, “For low-income students, these colleges will generally cost them and their families less than a less-selective institution with a lower sticker price but fewer resources for financial aid.” 

But is this true? Does generous financial aid really make selective colleges more affordable than lower-cost colleges? Or are selective colleges just trying to shift blame for their failure to enroll more low-income students? Below, we take a deep dive into the data to answer those questions.

After some long waits, you'll start to hear back about acceptance decisions and financial aid packages. The whole process is so complicated and drawn out that it’s easy to skip the final step of the application process, withdrawing your application from schools you won’t attend.

Withdrawing applications is a courtesy to other applicants (especially those on a waitlist), and it can give you a sense of peace to commit to a particular school. With this in mind, these are the things you need to know about withdrawing a college application.

If you find yourself saying, “I don’t know what to do after college,” you are not alone.

The truth is, most college grads have a "now what" moment. You've basically lived your entire life to-date in some type of educational setting. 

Even if continuing on to grad school or some form of post-baccalaureate education is not in your immediate future, and a job is not exactly what you are looking for, there are ways to live life after college that will still make you a productive member of society.

I'm going to share with you my thoughts on what to do after college. Maybe you think these are basic - fine. But maybe they will give you some food for thought.

You don’t need a financial advisor to develop your own financial plan. In fact, YOU are the best person to put one together.

When you’re directly involved in mapping out your finances you’ll be more likely to actually stick with your goals. Plus, you’ll have a keen awareness of where you stand financially and what it’s going to take to get you to the next level.

Here are six elements of a strong financial plan.

For example, working with a private tutor in a large city, will likely be more expensive than working with a tutor remotely. 

This article dives into tutoring costs and some of the things you’ll want to consider before you begin working with a tutor.

Enjoy! Let me know what you think.

It's possible to start investing in high school, or in college, or even in your 20s.

Even more food for thought - if you invested $100 in Apple stock in 2000, it would be worth $25,000 today. Or if you invested in Amazon stock at that same time, it would be work over $3,500 today. And that's just if you invested $100 once. 

Imagine if you invested $100 monthly since 2000 in Apple stock? You'd have well over $4,000,000 today. Seriously.

Whether you are a parent or student, tuition insurance can be a worthwhile way to secure your investment.

In partnership with GradGuard, let’s take a look at five common reasons you should consider tuition insurance. GradGuard is a leading tuition insurance provider and they can help you protect your college financial investment. 

Get a quote here and see how affordable tuition insurance can be >>

Either option holds its value. While fewer than 5% of high school students in the U.S. choose to take a gap year before enrolling in college, the Gap Year Association reports that “students who had taken a gap year were more likely to graduate with higher grade point averages than observationally identical individuals who went straight to college.”

In this article, we focus on common pros and cons of taking a gap year and identify some ways to help you take your next step, regardless of your decision.

If you are making your way through college after tying the knot, your financial situation will likely look different than that of your single peers, which could impact your access to financial aid.

But everyone’s situation is unique. We explore some of the potential benefits for married college students below. 

Having a pet in college was once a rarity, but pet-friendly campuses are now more common as colleges work to create a more supportive environment for their students.

That said, having a pet as a college student is a big commitment in terms of financial responsibility and time commitment. From explaining common pet policies to reviewing current trends on campuses, we break down the ins and outs of owning a pet as a college student to help you make the most informed decision for you and your pet!

You’re not alone in your concerns, though, and it’s likely your roommate has been thinking something similar. Finding harmony in your college roommate experience requires a number of soft skills to foster a positive relationship and safe living environment. And I bet that if thousands of students have successfully navigated this before you, you can do it, too!

Here are our tips for living with your first college roommate!

Each of these programs, however, have different purposes and eligibility requirements. However, when it comes to taxes and financial aid, it can be confusing to understand how each work. For example, do you need to include SSDI benefits received on the FAFSA?

But how exactly do these programs work? And how do they play into your tax bill? In this article, we’ll look at each one and their impact on your paycheck, taxes, and FAFSA.

With the rising costs of tuition, fees, and college living expenses have made financing a college education increasingly difficult.

The fact remains that most of us will apply for student loans at some point in life. And while loans provide essential financial support at an important time, they come with significant responsibility and long-term implications.

So how much do you really need? And how much should you accept? Making informed financial decisions now can truly set yourself up for success later, and student loans are a great example of this. So read on to start building good financial habits!

More than a decade after completing college, 7% of Millennials still have more than $50,000 in student loan balances. Facing our reality of digging out of debt and knowing our friends' horror stories, many millennials are motivated to help their kids get through college debt-free. 

While we can’t promise that you’ll be able to help your child avoid debt, we’ve got realistic tips to cover the cost of college from the day your child is born to after they graduate.

Homeownership can be a true joy. The thought of holding your very own keys in your hands and being able to point and say “That’s my house”.

That’s until it’s time to pay property taxes. The average property tax in California is $4,694 per year whereas in places like New Jersey and Connecticut, it ranges from $6,400-$9,300 per year. This is undoubtedly not one of the joys of home ownership.

Now of course, we all want to be great citizens and do our due diligence to help with infrastructure and projects that benefit our communities. However, there is no reason to be overpaying your property taxes.

There are ways to legally reduce your property tax bill - let's dive in.

If you don’t have good credit, there are steps you can take to fix it. The process is called credit repair. You can do it by yourself or have someone help you, for a fee of course.

We break down your options here!

There was another smaller period during the Great Financial Crisis. Both coincided with a recession. During a recession and deflation, people lose their jobs, demand drops, and with it, prices.

But for those who are able to hang on to their jobs and have investments, what should they look at for some of the best investments during a deflationary period? In this article, we'll explain how deflation works and offer a few strategies for defending against it.

These accounts hold money on behalf of the buyer to ensure certain payments are made on time - typically homeowners insurance and property taxes. This can help reduce liability and risk lenders take on, giving buyers access to better financing options.

What is an escrow or impound account? Is it required? More importantly, how do you cancel an escrow or impound account if you don’t actually need it? This article will dive into all of those questions to help you figure out whether or not an escrow account is a good move for you.

A 401(k) is a tax-advantaged retirement investment account offered by many employers. It's an account so basic that it may be a victim of its own success. Has the 401(k) scammed aspiring retirees out of their hard-earned money? We don’t think so, but we will explain why the account is being so harshly maligned.

Although it might not be the most enjoyable financial task, it's a necessary obligation that we each undertake every year. And if you use great tax software, filing taxes doesn’t take as much time as you may dread.

But tax filing time isn’t only about filing returns. There are things you can do today to help you save money on your tax bill, and help you save time on filing.

Here are the best last-minute tax tips to consider this season.

However, all is not lost. While SAT prep courses can be expensive, they don't have to be. There are affordable options to help you prepare for the SAT. Here's what you need to know

If you’re eager to learn the material covered in an MBA program without the burden of paying for one, you can create a DIY MBA curriculum. While this approach isn’t foolproof, it allows you to create a customized curriculum tailored to what you want to study while helping you learn the skills you’ll need to advance in your career.

Birch Gold, a company that helps investors buy and sell gold, polled its investors about their thoughts on the greatest threats to their well-being.

We combined some of the Birch Gold responses with other sources to deliver these top 10 threats to your investment portfolio.

The average tax refund payment was more than $2,753, according to the IRS. That's a lot of money that you can put to good use.

While you can probably imagine plenty of places to put your prized refund check today, you might not be thrilled with the choice tomorrow.

Rather than spend all of your money frivolously, why not use it to boost your bottom line?

Invest that money in one of the ideas listed below, and you can guarantee your future self with thank you. You may even have some fun along the way.

Here are some of the best ways to put your tax refund to good use this year.

You need this ID to complete the FAFSA online, view your financial aid history, accept loans, and select student loan repayment plans.

The sooner you get your FSA ID setup, the easier it will be for you to manage everything related to loans and grants. Let's explore how to set up your FSA ID.

Here are a few of the best ways you can use a Leap Year to maximize your finances.

Or, maybe you've been on and off deferment and forbearance for years, and every time you're encouraged to start repayment, you simply don't think you can afford it.

Sadly, too many people don't take action with their student loans - even if they can't afford it. That's why over 7% of student loans are delinquent according to the Department of Education. 

But simply ignoring it or going into default isn't the solution. There are better (and more affordable ways) to tackle a student loan debt payment you can't afford. 

If you're not quite sure where to start or what to do, consider hiring a CFA to help you with your student loans. We recommend The Student Loan Planner to help you put together a solid financial plan for your student loan debt. Check out The Student Loan Planner here.

Let's break down the options here.

Getting a tax refund is a big part of that question. Most people hope for a refund and look forward to getting their direct deposits (who gets a paper check anymore)?

But doing your taxes can be hard, or so the mainstream media tells you, along with commercials and more. So, should you pay someone to do your taxes?

As with most things, the answer is: it depends.

It depends on a few factors, and we break down whether you should pay someone to do your taxes, or whether it makes more sense to do it yourself. And if you are going to pay someone, who should you be paying - does using one of those big companies like H&R Block even make sense. 

Here's what you need to know.

Being rich doesn't always mean having money, but 90% of the time, it does. However, there are habits, behaviors, and "rules" that will essentially allow you to get rich and grow wealth. It's not an overnight process. There aren't any get-rich-quick schemes here.

What you're going to read below are my ten rules for getting rich and growing wealth - over time.

“Side hustle” is defined as a secondary business or job with the potential to produce extra income. Recent data indicates approximately 39% of working adults in the U.S. currently have a side hustle, which is a sharp increase from the number of adults who held a one before 2020.

A quick internet search will display endless lists of side hustle options, but there aren’t as many resources for how to get started on a side hustle.

So, we will take you through the steps of starting a side hustle for you and helping it go live, plus all the other things to keep in mind as you venture into new territory.

Check out the full article here: https://theci.co/start-side-hustle-pod