Category: Finance

Carol Yepes | Moment | Getty Images For many students and their families, federal student aid is key for college access. And yet, the Trump administration’s budget proposal for fiscal year 2026 calls for significant cuts to higher education funding, including reducing the maximum federal Pell Grant award to $5,710 a year from $7,395, as well as […]

With more Americans job hopping in the wake of the Great Resignation, the risk of “forgetting” a 401(k) plan with a previous employer has jumped, recent studies show.  As of 2023, there were 29.2 million left-behind 401(k) accounts holding roughly $1.65 trillion in assets, up 20% from two years earlier, according to the latest data […]

A demonstrator speaks through a megaphone during a Defend Our Schools rally to protest U.S. President Donald Trump’s executive order to shut down the U.S. Department of Education, outside its building in Washington, D.C., U.S., March 21, 2025. Kent Nishimura | Reuters The Trump administration on Friday asked the Supreme Court to lift a court […]

A few months of market swings have taken a toll on retirement savers. The average 401(k) balance fell 3% in the first quarter of 2025 to $127,100, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. The average individual retirement account balance also sank 4% from the previous quarter […]

A Social Security Administration (SSA) office in Washington, DC, March 26, 2025.  Saul Loeb | Afp | Getty Images The Social Security Administration has now processed about 91% of cases related to a new law that is prompting higher benefits and lump-sum retroactive payments for nearly 3 million people, according to a new update from […]

The Trump administration paused its plan to garnish Social Security benefits for those who have defaulted on their student loans — but says borrowers’ paychecks are still at risk. “Wage garnishment will begin later this summer,” Ellen Keast, a U.S. Department of Education spokesperson, told CNBC. Since the Covid pandemic began in March 2020, collection activity […]

Aleksandarnakic | E+ | Getty Images Denmark has moved to increase its retirement age to 70 — making it the highest retirement age in Europe. Yet it may be difficult for the U.S. to follow its lead. The new change in Denmark will apply to public pension retirements starting in 2040. Since 2006, the country […]

Staff members remove a sign following a press conference after the House passage of the tax and spending bill, at the U.S. Capitol on May 22, 2025 in Washington, DC. Kevin Dietsch | Getty Images House Republicans passed a multitrillion-dollar tax and spending package after months of debate, which included many of President Donald Trump‘s […]

Klaus Vedfelt | Digitalvision | Getty Images Earlier this spring, consumers were feeling good about their summer vacation prospects. More people were planning to take a trip compared to last year, and summer travel budgets were up, too, according to a new report from Deloitte. But just a few weeks later — after President Donald […]

Alexander Spatari | Moment | Getty Images Federal student loan borrowers could be in repayment for up to 30 years under proposed changes in the House Republicans’ massive spending and tax package, dubbed the “One Big Beautiful Bill Act.” Currently, most student loan repayment plans range from 10 years to 25 years — which already […]