Personal finance

Getty Images Nearly half — 48% — of student loan borrowers expect debt forgiveness in the future. Many of those borrowers anticipate that the government will excuse them from their education loans, according to Sallie Mae’s annual How America Pays for College report. (Between April 8 and May 14, global market research company Ipsos conducted the
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Jeremy Poland | E+ | Getty Images American consumers claimed $8.4 billion of Inflation Reduction Act tax breaks tied to boosting the energy efficiency of their homes in 2023, according to Internal Revenue Service data, a sum that exceeded officials’ projections. More than 3.4 million U.S. households claimed at least one of two tax breaks
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Vice presidential candidate Minnesota Governor Tim Walz looks on during a campaign rally with U.S. Vice President and Democratic presidential candidate Kamala Harris in Philadelphia, Pennsylvania, U.S., August 6, 2024.  Elizabeth Frantz | Reuters As many retirees struggle to afford the basics, there’s been bipartisan support to exempt Social Security from income taxes. That policy
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Credit card debt is on the rise. Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at $6,329, up 4.8% year over year, according to a separate quarterly credit industryinsights report from TransUnion. Credit card delinquency rates are also higher
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Lisa5201 | E+ | Getty Images Senate Republicans on Thursday blocked legislation that would have expanded the child tax credit, a key tax break for millions of families. Despite strong bipartisan support for the House bill passed in January, the legislation met resistance from Senate Republicans. Thursday’s procedural vote wasn’t expected to clear the 60-vote
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Republican presidential nominee and former U.S. President Donald Trump speaks on a panel of the National Association of Black Journalists (NABJ) convention in Chicago, Illinois, U.S. July 31, 2024.  Vincent Alban | Reuters At the National Association of Black Journalists‘ annual convention in Chicago on Wednesday, former President Donald Trump said inflation and high interest rates are “destroying
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Twenty47studio | Moment | Getty Images Workers who pay into Social Security while they’re working should expect benefits from the program when they retire. Yet 72% of adults worry Social Security will run out of funding in their lifetimes, a new survey from Nationwide Retirement Institute finds. Meanwhile, 23% do not expect to receive even
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U.S. Vice President Kamala Harris and second gentleman Douglas Emhoff descend from Air Force Two in Wilmington, DE, U.S., July 22, 2024.  Erin Schaff | Via Reuters Vice President Kamala Harris‘ personal financial records are under fresh scrutiny now that she is running for the highest office in the United States. Experts say recent tax
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Martin-dm | E+ | Getty Images The IRS has finalized rules on required withdrawals for certain inherited individual retirement accounts and other plans. But heirs could owe more taxes later by only taking minimums now, experts say. In final regulations last week, the agency confirmed most non-spouse beneficiaries have 10 years after the original owner’s
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