Personal finance

President Joe Biden speaks on July 25, 2023. Samuel Corum/Sipa/Bloomberg via Getty Images The White House on Tuesday forgave $130 million in student debt for 7,400 borrowers who attended CollegeAmerica, a now-defunct institution in Colorado that officials said misled borrowers about their loans and career prospects. These borrowers “were lied to, ripped off and saddled

Michael H | Stone | Getty Images Car repair costs are up almost 20% in the past year, according to the consumer price index — more than six times the national inflation rate and among the largest annual price increases of any household good or service. So, what’s driving up prices? It’s a combination of

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images The IRS on Monday ended its controversial practice of unannounced visits to homes or businesses from agency revenue officers for most taxpayers. Part of a broader IRS overhaul, the policy

It was the betrayal heard around the world. Earlier this year, when Bravo’s “Vanderpump Rules” star Tom Sandoval cheated on his long-time girlfriend Ariana Madix with their co-star and real-life friend, Raquel Leviss, it reverberated from social media to front-page news. Madix summed up the cheating scandal, dubbed “Scandoval,” well, stepping out days later on her way

Woman carrying a cardboard box, leaving office. JGI/Tom Grill Even though the job market is still favorable for workers, Americans looking for a new role are facing more competition compared with two years ago. But workers who find themselves unexpectedly job hunting aren’t always making the most of a valuable resource: their network. To that

The thought of retiring and funding your retirement adequately might be daunting. But if you start planning now, you’ll certainly be thankful later. It’s never too early to start thinking about retirement. Retirement usually entails replacing your annual salary from a workplace with other income sources to maintain your current lifestyle. While Social Security may

Natnan Srisuwan | Moment | Getty Images “Skiplagging” is a money hack for travelers looking to save on airline tickets — but travel experts warn the practice comes with big risks. Also known as “hidden city ticketing,” the practice is a way to leverage a quirk in airfare pricing. Here’s the basic concept: Rather than

This year, consumers are spending more on back-to-school supplies — and coughing up more to cover a particular kind of credit card fee at the same time. Total back-to-school spending is expected to reach a record $41.5 billion, according to the National Retail Federation. The so-called swipe fees, which companies such as Visa or Mastercard charge

Voronchuk Daria | Istock | Getty Images Last summer, Sherry Gui brought a date to her local bar in Manhattan. Gui, a law school student, had been going to the establishment for three years, and was friends with the bartenders and staff. When the evening ended, the guy picked up the check, which she was

Stephen Frink | The Image Bank | Getty Images Investors can get swept away by the fear or euphoria of the recent past — and it often costs them financially. “Recency bias” is the tendency to put too much emphasis on recent events, like a stock-market rout or the meteoric rise of bitcoin or a

bymuratdeniz | E+ | Getty Images One of the costs retirees pay — Medicare Part B premiums — may be increasing in 2024, driven by a new Alzheimer’s treatment on the market. The Medicare trustees projected in March that the standard monthly Part B premium may increase to $174.80 in 2024, an almost $10 monthly

Students at Wesleyan University Joanne Rathe | The Boston Globe | Getty Images In the wake of Supreme Court‘s ruling on affirmative action admission policies, Wesleyan University announced on Wednesday that it will end its policy of giving preferential treatment to legacy students. “We still value the ongoing relationships that come from multi-generational Wesleyan attendance, but there

The Powerball jackpot reached $1.08 billion on July 19, 2023. Joe Raedle | Getty It’s official: There’s a winner for the $1.08 billion Powerball jackpot — and the taxman will take a hefty cut. A single ticket sold in California matched all six numbers drawn on Wednesday night, making it the third-largest prize in the

The U.S. Department of Education in Washington, D.C. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images Just weeks after the Supreme Court struck down President Joe Biden’s plan to cancel up to $20,000 of their debt, some borrowers got good news: The Biden administration announced it would be forgiving loans for more than 800,000

The Powerball jackpot has reached $1 billion by July 19, 2023. Scott Olson / Getty The Powerball jackpot has ballooned to an estimated $1 billion, raising the stakes for the next drawing at 10:59 p.m. ET on Wednesday night. It’s the third-biggest prize in the game’s history — falling behind the record $2.04 billion jackpot

Damircudic | E+ | Getty Images The looming end of a pandemic-era pause to student loan payments and interest puts a spotlight on a big difference between two types of debt: subsidized and unsubsidized loans. Interest accrual is among the primary differences between the federal loans — also known as Stafford Loans — which are

People rally in support of the Biden administration’s student debt relief plan in front of the the U.S. Supreme Court on Feb. 28, 2023. Drew Angerer | Getty Images News | Getty Images Following a Supreme Court ruling last month that effectively killed President Joe Biden’s original student loan forgiveness plan, the White House is quickly moving

Supporters of student debt forgiveness demonstrate outside the U.S. Supreme Court on June 30, 2023, in Washington, DC. Olivier Douliery | AFP | Getty Images If you’re expecting debt cancellation from the latest round of student loan forgiveness, there’s good news: It won’t trigger a federal tax bill. The Biden administration on Friday announced a

President Joe Biden and U.S. Secretary of Education Miguel Cardona, June 30, 2023. Demetrius Freeman/The Washington Post via Getty Images The Biden administration Friday said it would forgive $39 billion of student debt for 804,000 borrowers, many of whom may be wondering if the action will meet the same doom as the forgiveness plan killed

First tip prompts, now surcharges. These fees, which typically range between 3% and 5%, are catching on at restaurants across the country. They may cover health insurance, inflation, credit card transactions or even tap water. Similar to ‘tipflation,’ the extra expenses can add a significant amount to the cost of dining in or carrying out. More