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Cyano66 | Istock | Getty Images With much fanfare, President Joe Biden has signed into law the Inflation Reduction Act. Historians may one day say this legislation did more to complicate an already too complicated tax code than any tax bill in the past 50 years. It is now up to the Internal Revenue Service…
AntonioGuillem | Getty Images It’s something more than 40 million Americans have in common: They hold federal student loans. But the lending system is famously complicated, and these loans come with various names and terms depending on when they were taken out and for what purpose. What are usually just technical differences could now determine…
Fast-food workers and supporters fight to raise the minimum wage to $15 an hour. James Leynse | Corbis Historical | Getty Images The Biden administration seems to have pegged a student loan policy announced Wednesday to its broader push for a national $15-an-hour minimum wage. The White House detailed a long-awaited plan to forgive up…
[This stream is set to start at 2:15 p.m. ET.] Visit CNBC’s Personal Finance page for coverage of Biden’s remarks and how they affect borrowers. President Joe Biden announced Wednesday that he will forgive $10,000 in federal student debt for most borrowers, fulfilling a campaign pledge and delivering financial relief to millions of Americans. Biden will…
For millions of Americans, learning Wednesday that the Biden administration plans to move ahead with sweeping student loan forgiveness likely sparked feelings of relief — followed by a lot of questions. The government has already made a surprising number of answers available, though time will tell how smoothly the cancellation unfolds between the U.S. Department…
The Biden administration has grappled with ending the pause on student loan payments as the economy’s recovery from pandemic lows continues. Supachok Pichetkul / Eyeem | Eyeem | Getty Images Some policy experts were quick to sound an alarm after President Joe Biden announced a sweeping new plan Wednesday to cancel up to $10,000 in…
Comstock | Stockbyte | Getty Images The labor market is strong, and unemployment is low. But economists fear a recession looms — and 50% of employers expect to reduce headcount in the next six to 12 months, according to a recent PwC survey. Workers who turn to jobless benefits for financial help will find a…
Air conditioner units for sale during a heat wave in Austin, Texas, on Tuesday, July 19, 2022. Sergio Flores | Bloomberg | Getty Images Labor Day deals are already underway, with big discounts on summer clothing, appliances and outdoor furniture. “Sales have already started,” said Julie Ramhold, a consumer analyst at DealNews.com. For cash-strapped consumers, this…
dowell | Moment | Getty Images After nearly eight months of market volatility, many investors still worry about rising interest rates and how those changes affect their portfolio. Some 88% of investors are concerned about rising inflation and interest rates, according to a J.P. Morgan Wealth Management study published Monday, polling more than 2,000 Americans,…
Credit cards are one of the easiest and most common ways to borrow money — but also one of the most expensive. Now the Consumer Financial Protection Bureau is looking into just how much banks charge in credit card interest. With inflation surging, consumers have increasingly turned to credit cards to make ends meet, prompting the federal…
A pedestrian carries shopping bags in San Francisco, California, US, on Wednesday, June 1, 2022. David Paul Morris | Bloomberg | Getty Images Even as many people struggle to stretch their incomes amid high inflation, it turns out there’s money they already have they’re probably overlooking — unused gift cards. To that point, 47% of…
Srdjanpav | E+ | Getty Images Many companies have announced layoffs in recent weeks, and others have hinted that cuts may be coming. Luckily, there are steps workers can take to prepare. At the end of day, you can’t control what’s happening in the economy, but you can control building a strong professional resilience,” according…