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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ALotOfPeople/Getty Images Key takeaways Private credit has become a popular investment, as investors seek out above-average returns. Private credit allows investors a way to buy into off-market loans that they might not have been able to access before, offering an alternative investment that could diversify their portfolios. However, private credit…
Key takeaways Requesting a credit limit increase can have both positive and negative impacts on your credit score. If you request the increase, expect the issuer to conduct a hard credit inquiry. If the issuer gives you an automatic increase, only a soft inquiry, if any, will be performed. …
Key takeaways The Bank of America travel rewards program can be lucrative and flexible, but the specifics of how you’ll earn points in this program depend on which credit card you sign up for. You can redeem most Bank of America travel rewards points for eligible travel purchases, cash back…
The U.S. public safety net can be a catch-22: These services act as a lifeline for people with disabilities, but it bars people from meaningfully saving, investing and building personal wealth. Money stashed in a retirement account or brokerage account counts against the small, strict asset limits imposed by certain…
Key Takeaways Focus on essential needs like food, housing, and utilities while reducing unnecessary purchases. Establish a structured budget to prioritize needs vs wants and stick to it. Consider community resources and government assistance that provide help with food, housing, and utilities. Investigate professional credit counseling from a non-profit agency…
Sarah-Jane Joel/Getty Images Key takeaways A deed of trust is a legal agreement used in real estate transactions in which a third party — the trustee — holds the title to the property until the borrower repays the mortgage. A mortgage is a similar agreement, but it doesn’t involve a…
Dependent life insurance is a type of life insurance you may not have encountered, but which could be good to investigate. Life insurance is designed to provide financial resources in the event that the insured person — often the policyholder — dies while the policy is in force. Dependent life…
Maria Korneeva/ Moment/ Getty Images Store credit cards have some advantages over general-purpose credit cards. They’re often easier to qualify for, which is handy if you’re working to establish your credit. You can also earn extra rewards and benefits at the places you shop at the most. The downside is…
Warren Buffett is arguably the greatest investor of all-time and has created massive amounts of wealth for Berkshire Hathaway shareholders. Buffett announced in May that he would step down as CEO of the conglomerate at the end of 2025, leaving many investors wondering — who will be the next Warren…
Key takeaways HO-3 insurance is the most common type of home insurance policy. Standard HO-3 policies provide coverage for your home’s structure, contents, liability, medical payments and additional living expenses. Standard HO-3 policies exclude damage from flooding and earthquakes, but coverage may be available through endorsements or standalone policies. It’s…
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