Personal
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Impact of Biden Administration’s Student Loan Forgiveness Efforts
The Biden administration recently announced the forgiveness of $7.7 billion in student loans for over 160,000 borrowers. This move is part of the U.S. Department of Education’s efforts to improve income-driven repayment plans and the Public Service Loan Forgiveness program. Education Secretary Miguel Cardona expressed the administration’s commitment to providing relief to millions of Americans…
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Why Raiding Your 401(k) for a Home Purchase Might Not Be the Best Idea
Many young retirement savers are considering raiding their 401(k) accounts to buy a home. A survey conducted by BMO Financial Group found that nearly one-third of aspiring homeowners are planning to withdraw funds from their retirement accounts to fund a home purchase. Millennials and Gen Zers are more likely than older generations to consider this…
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Examining the Potential Impact of Federal Children’s Savings Accounts
Wealth disparity in the United States has long been a pressing issue, particularly when it comes to the opportunities available to children from different socioeconomic backgrounds. Lawmakers are currently mulling over the possibility of implementing federal children’s savings accounts to address this problem. One such proposal, the 401Kids Savings Act, aims to create savings accounts…
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Examining Airfare Trends for Summer 2024
As Americans gear up for summer travel, they are facing a mixed bag when it comes to airfare prices. While overall prices have decreased, certain regions and destinations have seen an increase in airfare costs compared to the previous year. For example, flights to Tokyo, Japan have gone up by 2% this summer, making it…
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The Truth About Social Security: Myths vs. Reality
Despite a recent report showing that a strong economy has helped the Social Security program, there is still a looming threat of the trust funds being depleted within the next decade. Many Americans have the misconception that benefits will completely disappear once the trust fund runs out. The reality, however, is that even if the…
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The Impending Tax Cliff in The U.S.
One of the most significant pieces of legislation in recent history was the Tax Cuts and Jobs Act of 2017, or TCJA, signed into law by former President Donald Trump. This act brought about several changes to individual income tax provisions, resulting in lower tax rates for many Americans. However, it was only a temporary…
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The Rising Interest Rates on Federal Student Loans
The recent announcement by the U.S. Department of Education regarding the interest rates on federal student loans has left many parents feeling uneasy. Specifically, the news of a 9.08% interest rate on Direct PLUS loans for parents for the upcoming 2024-2025 academic year came as a shock to many. This rate, according to higher education…
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The Complex Dynamics of Inflation and Deflation in the U.S. Economy
In the midst of overall higher inflation rates in the U.S. economy, there are certain sectors experiencing a different phenomenon known as deflation. Deflation refers to a scenario where prices of goods and services are decreasing for consumers. This trend has been particularly noticeable in the prices of physical goods, such as cars, appliances, and…
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The Benefits of Loan Consolidation for Student Loan Borrowers
The U.S. Department of Education has recently extended the deadline for borrowers to meet a crucial student loan forgiveness requirement. By requesting a loan consolidation before June 30, individuals can combine their federal student loans into one new federal loan, potentially leading to the cancellation of their debt sooner than expected. Previously, the deadline for…
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Analysis of the Recent Meme Stock Rally
The recent surge in shares of AMC Entertainment and GameStop has once again caught the attention of investors, leading to a new wave of “meme stock” rally triggered by social media influencers. The emergence of a social media account named “Roaring Kitty” posting for the first time in three years has ignited a trading frenzy,…