Connecticut has been making strides in improving access to higher education through various initiatives aimed at reducing the debt burden and increasing college affordability. While these efforts have gone somewhat unnoticed, the state has rolled out programs that offer pathways to college and aim to narrow the wealth gap that has plagued Connecticut for years.
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President Joe Biden’s economic advisor recently discussed the impending debate surrounding expiring tax breaks put in place by former President Donald Trump. In 2017, Trump implemented the Tax Cuts and Jobs Act (TCJA), which included various provisions that are set to expire after 2025 unless Congress takes action. Some of these provisions include lower federal
When considering a Roth individual retirement account conversion, experts emphasize the importance of timing. Roth conversions involve transferring pretax or nondeductible IRA funds to a Roth IRA, allowing for tax-free growth in the future. However, this also means incurring upfront taxes on the converted balance. The decision to convert a pretax balance depends on various
President Joe Biden’s administration is facing a significant challenge as they aim to start forgiving the student loans of millions of Americans before the November presidential election. The proposal for debt relief was published in the Federal Register in April, inviting public comments on the initiative. It is noteworthy that the administration will need to
The anticipated “great wealth transfer” from baby boomers to their children is a topic that has been gaining traction in recent years. Various studies have shown that millennials and Generation Z have high expectations when it comes to inheritances, with many believing that they will receive substantial sums of money. However, the reality may be
The annual trustees’ report released on Monday indicates that the trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected. This delay is attributed to more people contributing to the program amid a strong economy, low unemployment, and higher job
Growing up on a New Jersey farm, sisters Rebekah Alstede Modery and Sarah Alstede developed a strong connection to the family business. Rebekah, with a double major in agricultural business and sustainable agricultural production, graduated from Delaware Valley University and decided to continue her career at Alstede Farms. Sarah, on the other hand, pursued an
In today’s competitive job market, attracting and retaining top talent has become increasingly challenging for employers. As a result, equity compensation has emerged as a key workplace benefit, with 72% of companies now offering some form of equity compensation to certain employees. This ownership stake in the company is designed to motivate employees and align
The Public Service Loan Forgiveness program, established by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments. However, the program has faced numerous challenges over the years, with many borrowers facing difficulties in qualifying for loan forgiveness due to
The U.S. Department of Education recently announced that it will be transferring some student loan borrowers currently serviced by Mohela to different servicers. This change will impact more than 1 million borrowers under Mohela’s management. The Department of Education contracts with various companies to service federal student loans, including Mohela, Nelnet, and EdFinancial, paying them