Few college admission cycles have been as hard on students as this one. National College Decision Day — the deadline most schools set to decide on a college — is just two weeks away. But many college hopefuls are still unsure of where they stand financially, as problems persist with the new Free Application for Federal Student Aid. … Read more
U.S. President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House in Washington, D.C., on Aug. 24, 2022. Evan Vucci | AP Here is who benefits from this round of forgiveness In this round of forgiveness, more than 206,000 borrowers will collectively get $3.6 billion in debt erased … Read more
College degree earners fall by nearly 3% For the second year in a row, the number of students earning an undergraduate degree declined, according to a recent report by the National Student Clearinghouse Research Center. Overall, undergraduate degree earners fell by nearly 3% in the 2022-23 academic year — the steepest decline ever recorded, the … Read more
1. Borrowers with ‘runaway interest’ More than 25 million borrowers owe more than they originally borrowed in federal student loans because of accrued interest charges, according to the Biden administration. As part of this plan, those borrowers could get up to $20,000 of unpaid interest on their debt forgiven, regardless of income. Certain low- and middle-income … Read more
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The price tag for a college education has never been higher — and it’s only going up. The cost of attendance at some schools, including New York University, Tufts, Brown, Yale, and Washington University in St. Louis, is now nearing six figures a year, after factoring in tuition, fees, room and board, books, transportation and … Read more
Getting into college is one thing, staying in is another. Although college enrollment declines leveled off this year, the number of students who started but then withdrew has been on the rise, according to the National Student Clearinghouse Research Center. There are now more than 40 million students who are currently unenrolled. At the same time, roughly … Read more
Amid arguably the worst year to apply for financial aid, some colleges are implementing new strategies to entice students wary of the high cost. Vanderbilt University announced it is expanding Opportunity Vanderbilt to include full-tuition scholarships to students of families with an annual income of $150,000 or less. Meanwhile, Dartmouth also said it is nearly … Read more
U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024. Sara Stathas | Bloomberg | Getty Images How student loan forgiveness used to be taxed Before that Covid-era change, any student loan debt canceled by the government was considered taxable and levied at the borrower’s normal … Read more
Economists expect the Federal Reserve to leave interest rates unchanged at the end of its two-day meeting this week, even though many experts anticipate the central bank is preparing to start cutting rates in the months ahead. In prepared remarks earlier this month, Federal Reserve Chair Jerome Powell said policymakers don’t want to ease up too quickly. Powell … Read more
