The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week, after recent reports showed the economy grew at a much more rapid pace than expected and inflation eased. “In many ways, we already have a soft landing,” said Columbia Business School economics professor Brett House. … Read more
The U.S. Department of Education says it plans to update a key part of the new Free Application for Federal Student Aid formula, which will result in $1.8 billion more in aid for college-bound students this year. The announcement comes weeks after the simplified FAFSA soft launched Dec. 30 after a monthslong delay. Since then, the 2024-25 form … Read more
For the first time in over a decade, more students are choosing to go to college. Undergraduate enrollment rose 1.2% in the fall of 2023 compared with one year earlier — a gain of roughly 176,000 students, according to the National Student Clearinghouse’s latest research. “The number of students in college has finally turned the … Read more
D3sign | Moment | Getty Images On-ramp period should protect your credit Generally, failing to make timely payments on debts, including your student loans, can damage your credit. Payment history accounts for 35% of your score, according to FICO. Typically, “missing just one payment can cause your credit score to drop by 50 to 100 … Read more
Chris Tobin | Digitalvision | Getty Images Beginning in February, certain student loan borrowers who have spent a decade in repayment will get their federal student loan debt forgiven, the Biden administration recently announced. Most borrowers need to make payments for 20 years or 25 years on an income-driven repayment plan before their debt is … Read more
For many families, financial aid is crucial when it comes to affording college. But students must first fill out the Free Application for Federal Student Aid to access any assistance, including student loans, work study and grants. And this year, a new FAFSA form has been plagued by problems. “It does seem consistent with a process that was rushed … Read more
A new Free Application for Federal Student Aid soft launched over the holiday weekend with much anticipation after a long delay. However, for now, the 2024–25 FAFSA form is only available for short periods of time as the U.S. Department of Education works to “resolve minor issues,” according to a department spokesperson. This soft launch period … Read more
U.S. President Joe Biden speaks on the student debt relief plan as Secretary of Education Miguel Cardona (R) listens in the South Court Auditorium at the Eisenhower Executive Office Building on October 17, 2022 in Washington, DC. Alex Wong | Getty Images How Plan A, Plan B student loan forgiveness compares Nearly 40 million Americans would have … Read more
A simplified Free Application for Federal Student Aid is finally online after a significant delay. However, as part of a “soft launch,” the new FAFSA form has only been periodically available. It’s likely few, if any, of the millions of students applying to college for the 2024-25 academic year have been able to successfully submit an application, … Read more
Miodrag Ignjatovic | E+ | Getty Images Borrowers don’t need to apply Borrowers do not need to enroll in the on-ramp period, the U.S. Department of Education says. If your loans were eligible for the pandemic-era payment pause, which mainly include those in the Direct program, then borrowers will also qualify for this relief. Loans … Read more
