Tag: Higher Education Costs

I’m 49, my wife is 34, we have 4 kids and $2.3 million saved. I earn $300K a year but ‘lose a lot of sleep worrying about tomorrow’ — when can I retire?

I am 49 years old (turning 50 this year) and my wife is 34. We have two young children under the age of 2, and...

Do you have to pay taxes on withdrawals from 529 college-savings plans? Here’s how to avoid an unpleasant surprise

Are you among the many who have invested in a tax-favored Section 529 college savings plan for the benefit of a child or grandchild? If...

I’m 63 years old, recently divorced with $130,000 in debt. How will I ever retire?

I am 63 years old and recently divorced. I earn $68,000 a year and had always planned to retire when I reach my Full Retirement...

The government promised to forgive military members’ student loans after 10 years of service — it’s only worked for 124 of them

Almost 3 million people are employed by the Department of Defense, many of whom are performing a quintessential form of public service: Serving in the...

Student loan servicer Navient illegally deceived borrowers, judge finds

Student loan servicer Navient NAVI, +2.06% illegally deceived borrowers, parents, grandparents and others who put their credit on the line when they co-signed their relatives’...

‘It feels predatory’: 6 million people are not eligible for a COVID-19 pause on student-debt payments — even if they work in public service

When the federal government declared the coronavirus pandemic a national emergency in March, Christopher Granado continued sending $730 each month to pay his federal student-loan...

DeVos appointee who oversaw America’s student-loan portfolio resigns as Biden education secretary pledges to ease student-debt burden

Mark Brown, the head of the office overseeing the government’s student-loan portfolio, resigned Friday, following calls on the Biden administration to remove Brown, who was...

State attorneys general call on Biden to cancel up to $50,000 in student debt to provide ‘immediate relief to millions’

A multistate coalition of Democratic attorneys general is calling on President Joe Biden to cancel up to $50,000 in student debt per borrower.  The letter...

Elizabeth Warren calls for new leadership to oversee student loans — and calls Betsy DeVos era a ‘disaster’

When Congress ordered the Department of Education to stop garnishing the wages of borrowers who defaulted on their student loans as part of the CARES...

Biden administration to extend student loan payment pause on Day 1, transition officials say

Once in office, President-elect Joe Biden will extend the coronavirus-era payment pause on student loans, a member of his transition team told reporters Friday.  “On...

Biden on using executive action to cancel $50,000 in student debt: ‘I think that’s pretty questionable’

President-elect Joe Biden said he is “unlikely” to use his authority to unilaterally cancel $50,000 in student debt for individual borrowers, weighing in on a...

The new stimulus bill didn’t extend the student-loan payment pause — but it has 8 provisions that will affect how families pay for college

Whether borrowers will resume paying their student loans on February 1 will likely be up to President-elect Joe Biden, after Congress left any pause on...

I paid for my wife’s M.A. and vacations. I suggested we save for a house, but she left me — and my in-laws told me to be a man

I am 31 years old and my wife is 30. We both live in New York. We have been married for four years. She makes...

Weekend reads: $500,000 and a retirement problem

ISTOCK/GETTY IMAGES Everybody’s financial scenario heading into retirement is different. This encompasses more than levels of savings or income — emotions come into play. What...

My family paid $7K for my uncle’s funeral. Our cousins said they didn’t have any money, but one remodeled his kitchen and another bought $800 shoes. Would you ask for it back?

Dear Moneyist, My two sisters and I recently paid over $7,000 for the funeral of our uncle, because he had no insurance and his three...

Student debt is fueling the Black-white wealth gap — and pursuing a college degree has become ‘racialized,’ this professor says

That’s thanks in part to Fenaba Addo, an associate professor of consumer science at the University of Wisconsin-Madison who studies debt and its role in...

Student-loan borrowers can skip payments until 2021, but that may not be long enough

It’s official: Millions of student loan borrowers won’t have to make payments on their debts through the end of this year, the Department of Education...

Borrowers are still having their paychecks seized over defaulted student loans, even though the CARES Act was supposed to stop wage garnishment, lawsuit says

More than 2,800 borrowers are having their paychecks garnished over defaulted student loans, even though the CARES Act was supposed to pause student debt payments...

Inside the $5 billion ‘shadow’ student debt market that helps keep for-profit colleges afloat

A new report highlights the $5 billion ‘shadow’ student debt market. (Photo by Robyn Beck / AFP) Roughly 44 million Americans are coping with $1.6...