Image by Getty Images; Illustration by Bankrate Key takeaways Forgiveness at the end of an income-driven repayment plan will be taxable beginning in 2026, potentially resulting in large tax bills for low-income borrowers. Most public service and occupation-based student loan forgiveness programs remain tax-free, including Public Service Loan Forgiveness (PSLF)…
AaronP/Bauer-Griffin / Contributor/Getty Images A bank failure occurs when a state or federal regulator closes it, typically after determining that it’s insolvent. When this happens, the Federal Deposit Insurance Corp. (FDIC) steps in to cover member banks’ insured deposits. Regardless of its size, the bank is insured, provided it’s a…
U.S. home prices have been on a roll. Defying the downward pull of an affordability squeeze and elevated mortgage rates, home values keep setting records. In fact, the National Association of Realtors (NAR) just reported 24 consecutive months of year-over-year price increases. When might this momentum finally reach its limits?…
Key takeaways The Capital One Spark Cash Plus and Ink Business Cash® Credit Card from Chase are both solid cash back cards for small business owners. The Capital One Spark Cash Plus is a better fit for high spenders (over $150,000 per year) who don’t mind paying an annual fee…
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Many people in economics, finance, business, and regular consumer life have been waiting for the forecast inflation, the tariff shock,…
San Francisco-based Chime, the largest digital bank in America, wants to go public at a price between $24 and $26…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
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Delmaine Donson/Getty Images Key takeaways Many money market accounts blend the features of a checking account and a savings account. Checking accounts may offer more liquidity and in some cases, may be best for daily use. Money market accounts and checking accounts are both deposit…
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3. Take Advantage of Your Bank’s Protection Services Many banks and credit card companies offer valuable tools to help protect you. These include:…
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OBSERVATIONS FROM THE FINTECH SNARK TANK JPMorgan Chase notified fintech data aggregators that, starting later this year, it plans to charge for access…
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Getty images, illustrated by Bankrate Key takeaways A rainy day fund is money set aside for small, unexpected expenses like car repairs or medical copays, typically $500-$2,000. Unlike emergency funds, rainy day funds cover minor financial hiccups rather than major life changes like job loss. Keep your rainy day fund…
Key takeaways You can use home equity to buy another house if you have enough of an ownership stake in your residence and meet other eligibility requirements. The most common ways to tap your equity are via a home equity loan or home equity line of credit (HELOC). Purchasing property…
Key takeaways High-yield savings accounts offer flexibility and competitive rates for short-term savings goals. 529 education savings plans provide tax-free growth for qualified education expenses, with no annual contribution limits. Custodial accounts (UGMA/UTMA) transfer ownership to grandchildren at adulthood, typically ages 18-21 depending on state. Saving for your grandchildren can…
Key takeaways Unsecured credit cards do not require any collateral for approval and come with a credit limit based on your creditworthiness. Most of the top rewards credit cards on the market are unsecured credit cards. To get approved for an unsecured credit card, you’ll likely need a good to…
Social Security doesn’t usually offer a “do-over,” but retirees can turn to this option in a few select cases. For those who find they can get by without their monthly benefit check, for now, suspending it could help secure a larger payout later. But don’t get this strategy confused with…
Key takeaways Banks and credit unions often offer free coin exchange services for customers, while charging small fees for non-customers. Coinstar machines charge up to 12.9 percent plus a 99-cent flat fee but are widely available at grocery stores and retailers. Rolling coins yourself is the most cost-effective method, requiring…
Image by GettyImages; Illustration by Bankrate Key takeaways Some business lenders require applicants to have a business checking account. A business checking account is recommended to track expenses, monitor spending and maximize business tax deductions. Business checking accounts often offer services like payroll processing and bookkeeping integrations to simplify business…
Key takeaways Estate planning is the process of legally deciding who receives your assets following your death and how they need to settle your affairs. Making an estate plan can be valuable for anyone who has any assets, though different types of plans can be more beneficial for those…
Key takeaways Carvana lets you purchase a used car or sell your vehicle from the comfort of your home. It’s a one-stop shop for buying and financing, and you can choose to pick up your vehicle from a vending machine or have it delivered to your front door. Carvana’s process…
Key takeaways Closing on a house is a complex process that takes several weeks and involves many steps for you and your lender. On closing day, you’ll sign a stack of documents, pay closing costs and receive the keys to your house. Several issues can delay closing, including a low…
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