The landscape of student loans in the United States is precariously shifting as the Department of Education reinitiates “involuntary collections” for federal student loans. This process spells potential disaster for millions of borrowers who are already on the edge of financial ruin. Recent data reveals a staggering 31% of student loan borrowers are now in
Personal
In an age where societal milestones have morphed into vague markers of adulthood, the act of paying one’s own cell phone bill has bizarrely become a celebrated milestone. A recent survey by AT&T revealed that a staggering 76% of Americans view detachment from a parent’s cell phone plan as one of the “ultimate signs” of
The federal student loan system is on the precipice of a devastating transformation. While colleges and universities continue to hike tuition fees—outpacing household income growth at alarming rates—policymakers are poised to scale back financial aid significantly. This disturbing trend not only threatens the accessibility of higher education but also exacerbates the financial burdens on students
In an age where financial insecurity looms larger than ever, it seems that the so-called “American Dream” is slipping away, personifying a collective anxiety among the nation’s citizens. According to findings from Bankrate’s recent financial freedom survey, a staggering 45% of Americans now believe they need an annual income of $100,000 or more to feel
For most American households, the cost of electricity is no longer just a monthly expense; it’s an alarming cliff dive into financial uncertainty. Despite the general cooling of inflation, electricity prices are skyrocketing at an alarming rate of 4.5% over the past year alone, casting shadows on the budgets of families nationwide. According to the
In the current economic landscape, the shadow of credit card debt looms larger than ever, particularly for those already navigating financial instability. As reported, credit card interest rates have risen consistently, reaching averages that are nothing short of alarming—over 20% overall and 24.3% for new accounts. This troubling trend can be linked to the Federal
The latest report from the Social Security Board of Trustees is nothing short of a wake-up call; it has officially charted a troubling path towards 2033, the year when the core trust fund is expected to be fully depleted. For millions of Americans relying on Social Security for their retirement security, this forecast is alarming—yet
As Senate Republicans push forward with President Trump’s ambitious spending plan, the ongoing negotiations over the child tax credit present a troubling aspect of contemporary welfare policy. While the proposed reforms to the child tax credit aim to provide financial relief, the reality is far more complex. The Tax Cuts and Jobs Act of 2017
The proposal of establishing federally funded savings accounts for children, supposedly championed as “Trump accounts,” has sparked considerable debate. With an initial deposit of $1,000 for every U.S.-born child under the age of eight, the idea appears to incorporate a benevolent spirit of nurturing future financial independence. Yet, beneath the surface, one must question the
As the political landscape evolves, the discussions surrounding the federal deduction for state and local taxes, known as the SALT deduction, have become a battleground of ideological differences and legislative maneuvering. Originally part of the Tax Cuts and Jobs Act (TCJA) of 2017, the SALT deduction was a lifeline for many taxpayers, allowing them to