Images by GettyImages; Illustration by Bankrate About 200 days into the Trump Administration, leadership at both the White House and the Department of Education have attempted to reshape higher education, including how we repay the debt borrowed for it. And only once did they have to rely on student loan-related…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Lenders calculate how much interest you’ll pay with each payment in two main ways: simple or on an amortization schedule. Short-term loans often have simple interest. Larger loans, like mortgages, personal loans and most auto loans, have an amortization schedule. The…
Morsa Images/Getty Images Robo-advisors are a great option for investors who are looking to automate the investment management process at a cost below that of traditional financial advisors. Fortunately, there are robo-advisors that offer the best of both worlds, including some that offer access to certified financial planners (CFPs). Here’s…
South_agency/Getty Images One of the most common and best pieces of investment advice is to invest in a low-cost S&P 500 index fund. These funds allow investors to participate in the long-term growth of the economy by purchasing a diversified basket of stocks at a low cost. But recently some…
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New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
Many people in economics, finance, business, and regular consumer life have been waiting for the forecast inflation, the tariff shock,…
President Trump’s 2026 budget would freeze spending for many services for older adults, deeply cut others, continue his efforts to…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
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Traditionally, when a homeowner hired a real estate agent to handle the sale of their property, they agreed to pay that agent, as well as their eventual buyer’s agent, a commission. This fee typically amounted to between 5 and 6 percent of the home’s selling…
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Key takeaways It may be difficult to obtain a new loan after you enter a debt management plan, especially if you have recently…
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OBSERVATIONS FROM THE FINTECH SNARK TANK In 2022, President Biden signed an executive order directing the government to develop a framework for digital…
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Brokerages are aggressively competing for your money. One way they do so is by offering competitive bonuses that you can add right to your brokerage account. It’s important to know the best offers so that you can decide whether it’s a good time to open a brokerage account and take…
Key takeaways The typical minimum amount to open a jumbo CD is $100,000, although some jumbos require a minimum of $95,000, even less. Although many jumbo CDs offer competitive APYs, there are many standard CDs that earn higher yields than jumbos, so it’s important to compare rates. Depositing a large…
Getty Images, MesquitaFMS The August 1 deadline for the latest round of trade negotiations has passed, and drivers remain in insurance purgatory — waiting to see how tariffs will impact auto rates and repair costs. The U.S.-EU trade agreement may bring some stability to the global auto market, but it…
Key takeaways Federal loan borrowers lose government protections when refinancing, making it a bigger trade-off Autopay discounts offer an easy way to cut rates without changing loan terms Cosigners remain responsible for loans even after refinancing Tens of millions of Americans have borrowed money to pay for college. If you…
$100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible 250/500/100 level: $50,000 bodily injury liability per person $100,000 bodily injury liability…
I found it funny — and a bit scary — when I noticed Halloween decorations on the shelves beside the back-to-school section of the local grocery store last week. The ghosts and goblins smiled mockingly at me, reminding me of the days when I experienced the horror of another school…
Witthaya Prasongsin/Getty Images Key takeaways The best high-yield savings account rate today is 4.35% APY. The highest rates are more than seven times greater than the national average savings account rate. The Federal Reserve has held its benchmark rate steady so far in 2025. As a result, high-yield savings account…
Eternity in an Instant/Getty Images Key takeaways Prepayment penalties are fees charged by lenders if you pay off a loan early or make extra payments. Very few lenders charge prepayment penalties, but they can make refinancing your auto loan or paying down the principal more challenging. It is important to…
Key takeaways Short-term business loans are a quick way to get funds for your business, with repayment terms typically lasting between three to 18 months. Short-terms are often offered by online lenders, who can process applications and disburse funds faster than most traditional lenders. Common reasons for taking out a…
Key takeaways Nonstandard car insurance is insurance for drivers who present a greater risk to insurers, making it more expensive than standard insurance. New drivers, those with poor driving history, a lapse in coverage or a foreign driver’s license could be considered high-risk drivers. Shopping around with multiple carriers may…
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