8 million student loan borrowers will get automatic forgiveness

Leopatrizi | E+ | Getty Images Under President Joe Biden’s landmark student loan forgiveness plan, up to 8 million people could get automatic debt relief, according to the White House. Overall, most people with federal student debt will be eligible for a rebate: up to $10,000 if they did not receive a Pell grant, which … Read more

CBO says Biden’s student loan cancellation plan could cost $400 billion

Washington CNN — President Joe Biden’s plan to forgive up to $20,000 in federal student loan debt for low- and middle-income borrowers could cost $400 billion, according to a Congressional Budget Office report released Monday. Biden announced the forgiveness plan in August, after facing growing pressure from progressives to write off some student loan debt … Read more

Home buyers are canceling purchase contracts. What to know before you do

Steve Pfost | News day | Getty Images In an environment of higher interest rates and a slowing housing market, homebuyers continue to withdraw from purchase contracts at a high rate. About 64,000 home purchase contracts were canceled in August, according to a new report from Redfin. This equates to 15.2% of real estate contracts … Read more

Careers where over 50% of workers are happy with their pay

Want to feel good about how much money you make? Go into product management, engineering or real estate, where workers are more likely to say they feel well compensated for their work. That’s according to LinkedIn’s Workforce Confidence Index, which surveyed more than 32,000 American workers from June through September. About 60% of workers in … Read more

Government bond yields soar as markets weigh threat of a recession

Hoxton/Sam Edwards | Getty Images Bond yields jumped this week after another big rate hike from the Federal Reserve, signaling a warning of market distress. On Friday, the policy-sensitive 2-year Treasury yield climbed to 4.266%, hitting a 15-year high, and the benchmark 10-year Treasury yield hit 3.829%, the highest in 11 years. The surge in … Read more

Retiring from your small business? You need a good exit strategy.

Baby boomers own about 40% of the nation’s small businesses and private franchises, and as they head into retirement over the next few years, they will need appropriate strategies to “exit” their businesses, whether bequeathing them to heirs or selling them to strangers. . Exit planning is important for a myriad of reasons, including understanding … Read more

How high inflation may affect which tax bracket you’re in next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives … Read more

22-year-old goes viral for sharing job scam nightmare and red flags

Callie Heim was thrilled to start her marketing job at trendy self-driving car company Waymo earlier this summer. She had had a difficult year – her mother recently passed away, she came home and was adjusting to life after college. The job offer marked a turning point: ‘I was at rock bottom and felt like … Read more

Want a risk-free 4% return? How investors can buy a simple Treasury

The surge in short-term Treasury yields may prompt some investors to consider adding the Notes to their portfolio. The 2-year Treasury yield rose above 3.9% on Friday, the highest level since 2007. Bond yields move inversely to their prices. The 2-year note sits at the point on the Treasury yield curve that is most sensitive … Read more

Should your small business get a loan to cover rising costs of inflation? This can help you decide.

Small business owners have spent years trying to battle the effects of the COVID-19 pandemic, and now inflation has thrown a damper on the progress of the recovery. Four in five businesses say rising prices have had a significant impact on their operations, according to the U.S. Chamber of Commerce’s 2022 Second Quarter Small Business … Read more