Few college admission cycles have been as hard on students as this one. National College Decision Day — the deadline most schools set to decide on a college — is just two weeks away. But many college hopefuls are still unsure of where they stand financially, as problems persist with the new Free Application for Federal Student Aid. … Read more
College degree earners fall by nearly 3% For the second year in a row, the number of students earning an undergraduate degree declined, according to a recent report by the National Student Clearinghouse Research Center. Overall, undergraduate degree earners fell by nearly 3% in the 2022-23 academic year — the steepest decline ever recorded, the … Read more
Problems with the new Free Application for Federal Student Aid have left many students in a bind. In an early April update, the U.S. Department of Education said the delivery of some FAFSA applications would be further delayed due to ongoing issues with applicants’ tax data. “We are working hard to address these challenges and ensure schools … Read more
The price tag for a college education has never been higher — and it’s only going up. The cost of attendance at some schools, including New York University, Tufts, Brown, Yale, and Washington University in St. Louis, is now nearing six figures a year, after factoring in tuition, fees, room and board, books, transportation and … Read more
Economists expect the Federal Reserve to leave interest rates unchanged at the end of its two-day meeting this week, even though many experts anticipate the central bank is preparing to start cutting rates in the months ahead. In prepared remarks earlier this month, Federal Reserve Chair Jerome Powell said policymakers don’t want to ease up too quickly. Powell … Read more
U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024. Sara Stathas | Bloomberg | Getty Images How student loan forgiveness used to be taxed Before that Covid-era change, any student loan debt canceled by the government was considered taxable and levied at the borrower’s normal … Read more
U.S. President Joe Biden delivers remarks at an event at Culver City Julian Dixon Library, in Culver City, California, U.S. February 21, 2024. Kevin Lamarque | Reuters When Marlon Fox, a chiropractor in North Charleston, South Carolina, got his student debt forgiven last year, he was thrilled. His $119,500 balance was reset to zero. But the … Read more
President Joe Biden speaks about his economic plan at the Flex LTD manufacturing plant in West Columbia, South Carolina, on July 6, 2023. Sean Rayford | Getty Images Since the Biden administration’s first student loan forgiveness plan was rejected at the Supreme Court, it has been working on creating a new, legally viable relief package. … Read more
Marlon and his dog, George. Courtesy: Since 1988, Marlon Fox has been paying down his federal student debt. He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!” His $119,500 balance was reset to zero. “I … Read more
PeopleImages | E+ | Getty Images Above all else, the new Free Application for Federal Student Aid was designed to improve college access. However, problems with the rollout have left many students and their families frustrated with fewer students applying overall. As of the last tally, nearly 4 million students have submitted the 2024-25 FAFSA form so … Read more
