On May 22, U.S. District Judge Myong J. Joun issued a preliminary injunction that decisively halted the Trump administration’s controversial proposal to shift the management of over $1.6 trillion in federal student loans from the Department of Education to the Small Business Administration (SBA). This unexpected legal turn not only reinstated the jobs of more
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The financial landscape has always been volatile, but recent months have enlivened this reality. President Donald Trump’s fluctuating tariff policies have sent market indices like the S&P 500 into dramatic swings. For many families who have dedicated time and effort to save for their children’s education through 529 college savings plans, this volatility can evoke
For many investors, mutual funds represent a key pillar of their financial portfolio, providing diversification and professional management. Yet, an often-overlooked aspect of mutual fund investments is the potential for unexpected tax bills during year-end payouts. This situation arises from the peculiarities of capital gains distributions, which can catch investors off-guard even if they haven’t
President Donald Trump’s ambitious tax and spending scheme is characterized by grand promises, notably the expansion of the child tax credit. However, dissecting the proposal reveals deep flaws that primarily benefit only a small segment of families while neglecting those most in need. The plan’s potential to solidify a maximum credit of $2,500 between 2025
The recent unanimous passage of the No Tax on Tips Act in the Senate caught many off guard, showcasing the unpredictable nature of contemporary politics. With echoes of President Donald Trump’s 2024 campaign proposals, this legislation stands to create a notable federal income tax deduction of up to $25,000 annually for workers in tip-receiving professions.
The return of aggressive collections on defaulted federal student loans under the Trump administration has ignited a financial crisis for millions of Americans. Since the moratorium on student loan payments due to the COVID-19 pandemic was lifted, borrowers have suddenly been thrust back into the reality of financial obligations that many were either unprepared for
In an unexpected twist shaped by recent economic pressures, Americans are beginning to rethink their relationship with consumer goods. President Donald Trump’s controversial remarks on “living with less” serve as a startling reflection of this shift. While some may see this as merely a call for minimalism, it resonates deeply during a time when overindulgence
Teachers like Jason Collier epitomize the struggles of countless borrowers drowning in student debt, often resorting to waiting for payday to fill their gas tanks. Collier, a special education teacher from Virginia, faces a double whammy: the financial strain attached to his profession and the looming threat of wage garnishment due to delinquent student loans.
As the Trump administration intensifies efforts to collect on student loans, borrowers find themselves trapped in a landscape filled with confusion and fear. The distinction between being delinquent and being in default is crucial, yet many borrowers fail to grasp its implications. A staggering number of borrowers are under the misconception that once they miss
Amid the celebratory atmosphere of college graduations, a stark reality looms— the employment landscape is shifting in ways that defy traditional logic. For many years, the mantra has been clear: major in STEM (science, technology, engineering, and mathematics) for a guaranteed job and high income. However, recent data from the Federal Reserve Bank of New