Americans have amassed $525.1 billion for educational expenses in 529 plans as of December 2024, according to the Education Data Initiative. That amounts to around an average of nearly $31,000 for the estimated 17 million families participating in 529 plans. With so much money on the table and college costs…
Key takeaways Student loan experts are still fully assessing the One Big Beautiful Bill’s fallouts. One is clear: Not all borrowers who need private loans to fill the funding gap created by new federal borrowing limits will have good enough credit to qualify. Private lenders are exploring new products and…
For many retirees, the biggest financial fear isn’t a market crash — it’s running out of money. One way to lock in predictable income for life — and avoid the nightmare of running out of money in retirement — is with an income annuity. You hand over a lump sum…
Key takeaways An auto loan allows you to purchase a vehicle without paying cash upfront. You’ll pay a fixed amount toward the principal and interest for a predetermined number of months. You can use dealer financing to purchase a vehicle or arrange auto loan financing through a bank, credit union…
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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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Key takeaways Insurance brokers work independently and represent clients, helping them find the best insurance policies to meet their unique needs and budgets. They can explore a broad range of policies from different insurers to find the best fit for their clients’ needs. Brokers typically…
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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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Cross-border tax planning between Canada and the U.S. will require you to manage income, assets and residency to avoid double taxation and meet rules in both countries. Key differences in retirement accounts, capital gains and estate taxes can create issues without careful planning. Tax treaties help, but dual filers and…
Photography by Getty Images; Illustration by Bankrate Key takeaways After you buy a new car, your insurer may offer a grace period lasting seven to 30 days for switching your car insurance. If your insurer doesn’t have a grace period, you must add your new car to your policy before…
When I set the goal to retire by the age of 40, my financial advisor laughed at me. I’d read about the FIRE movement, but I didn’t know anyone in real life who’d actually done it. I certainly didn’t grow up with the blueprint. I’m the eighth of my dad’s…
Preparing your home for a hurricane could be a wise decision, since the National Oceanic and Atmospheric Administration (NOAA) predicts a 60 percent chance of an above-normal hurricane season for 2025. To help you get started, Bankrate’s insurance editorial team put together a simple strategy for protecting your property. We’ll also…
Key takeaways The largest U.S. IPO of all time is of Chinese e-commerce giant Alibaba in September 2014. A company must have a total valuation of more than $54 billion to crack the top 10 list of American IPOs. The valuation includes the total value of all the company’s stock,…
Key takeaways Rates may vary significantly, but the average interest rate on a personal loan is under 13 percent. Match up lenders with your needs, such as debt consolidation, emergency cash or large home improvements. Watch for fees — they’ll be deducted from the funds you receive. Find out which…
Images by GettyImages; Illustration by Hunter Newton/Bankrate If you’re in the process of purchasing a home, you may have heard of escrow. Instead of paying taxes, homeowners insurance and mortgage insurance separately, these expenses typically come out of a single legal holding account, referred to as an escrow account. Your…
Inheriting an annuity can be a financial opportunity — but only if you understand the rules. One of the most important regulations to be aware of is the five-year rule. This IRS guideline tells non-spouse beneficiaries how long they have to withdraw funds from certain annuities after the original owner…
Flamingo Images/Shutterstock Key takeaways Cash management accounts combine the best parts of checking and savings accounts and are usually offered by investment companies. These accounts can provide more than $250,000 with FDIC insurance by automatically spreading your money across different banks. Cash management accounts often offer competitive interest rates while…
Understand your Debt: Debt from credit cards, loans, or medical bills can feel overwhelming. Recognizing its commonality is the first step in tackling it. Assess Your Finances: List all debts, including amounts and interest rates. Identify budget areas for cuts, like subscriptions and dining out. Create a Repayment Plan: Use…
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