The Biden Administration published its second attempt at broad student loan forgiveness in the Federal Register on April 17, 2024. Although more targeted than the first attempt, which was blocked by the U.S. Supreme Court, the new proposed regulations would forgive all or part of the student loan debt of 27.6 million borrowers, nearly two-thirds of the total number of borrowers.  The draft regulations feature nine separate waivers (a waiver is a specific situation that will allow for student loan forgiveness). The waivers include situations where the borrower’s current balance exceeds t ..read more

Around 80% of mortgage borrowers in the United States have an escrow or impound account. In fact, these accounts are required by some lenders. 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 ..read more

Domain Money is a fee-only financial advising platform that connects users with Certified Financial Planners (CFPs) for financial planning sessions. While it’s not cheap, it could be a good value for some people who want help understanding their financial situation and creating a long-term plan for future savings and investments. The Domain Money team consists of four CFPs. Three plans are available, ranging from a single 90-minute session to a comprehensive six-month financial review. It offers a 100% satisfaction guarantee, so if the service doesn’t meet your expectations, you may be able ..read more

Ownwell is a service that helps you appeal and lower your property taxes. The cost of owning a property goes far beyond the purchase price. Even if you pay off your mortgage, you’ll still be on the hook for property taxes. Unfortunately, an unfair assessment could push your property tax costs higher and take a big bite out of your budget. As a property owner, you have the right to appeal the assessed value of your home, which can help you lower your property taxes. But the time-consuming process forces homeowners to jump through many hoops. That’s where Ownwell comes in to negotiate for you ..read more

When you think of financial scams, you may think of Bernie Madoff and Nigerian Princes. But if you listen to enough “financial experts” on YouTube and TikTok, you may hear that the humble 401(k) is a scam. 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. Table of Contents What is a 401(k)? Your Money Is Locked Away 401(k) Fees Wi ..read more

Capital One Shopping is a mobile app and browser extension that allows you to earn rewards when you shop. It takes the work out of having to look through flyers or shop around for the best prices.  But how does Capital One Shopping work, and how does it compare to other shopping rewards apps, such as Rakuten and Honey? Our full review explore's Capital One Shopping’s features to help you determine if it’s a good fit for your situation. Quick Summary Free tool that helps you get the best deal for items when shopping online. The tool will search and apply coupon codes automat ..read more

Key Points Cancellation of Accrued Interest: The plan proposes eliminating up to $20,000 in accrued interest for 23 million borrowers, making a significant dent in the total debt burden many carry. Forgiveness For Long-term Borrowers: For borrowers who have been in repayment for over 20 years, the administration seeks to cancel debts, acknowledging the long-term financial strain on this group and aiming to provide them with much-needed relief. Automatic Debt Cancellation: Proposed automatic cancellation for borrowers eligible under existing forgiveness programs, like the SAVE plan and ..read more

Choosing the right school for you can be difficult. Not only does the decision come while you’re still fairly young, but it can also be heavily influenced by external factors that end up not aligning with what you want. Take it from someone who’s been there. 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 se ..read more

Key Points Expanded PSLF Eligibility for Physicians in California and Texas: New rule specifically addresses the unique legal barriers in these states that previously excluded many physicians from participating in the PSLF program due to state laws prohibiting direct employment by non-profit hospitals and other healthcare entities. Important Deadlines For Loan Forgiveness: Physicians with older FFEL loans must act by April 30, 2024, to consolidate their loans for eligibility. Additionally, some payments made towards loans before the rule change may now qualify for forgiveness, benefiti ..read more

Key Points Borrowers with older federal student loans, specifically FFEL loans, have a critical deadline of April 30, 2024 to consolidate these into Direct Loans for a chance at loan forgiveness due to the Payment Count Adjustment The one-time payment count adjustment by the Department of Education aims to rectify previous administrative oversights by loan servicers This plan is part of the broader Biden Administration effort to alleviate the student loan crisis.  Borrowers with older student loans, specifically Federal Family Education Loans (FFEL) or Perkins Loans, need to ..read more