Published February 03, 2025 11:39 AM EST Lars Hagberg/AFP via Getty Images KEY TAKEAWAYS President Donald Trump has implemented long-promised tariffs on some of the U.S.’s largest trading partners, but economists say these tariffs could raise inflation. Most voters said the Trump administration should focus on cutting goods, services, and healthcare prices rather than imposing
KEY TAKEAWAYS Federal student loan borrowers could see their credit scores suffer for missed payments for the first time since the COVID-19 student loan payment pause. Late or missing payments have not been reported to credit reporting agencies and wages have not been garnished since the pandemic. Borrowers are designated as delinquent once they miss
KEY TAKEAWAYS The White House has retracted a previous order that paused some grants, loans, and assistance the federal government awards to nonprofits and states. The prior order was supposed to take effect at 5 p.m. Tuesday, but it created massive confusion among federal agencies as it did not specify which federal payments would be
KEY TAKEAWAYS The White House sent a memo to all government agencies that ordered a pause on federal grants, loans, and other financial assistance programs starting Tuesday at 5 p.m. The Department of Education said that federal student loans and grants that are “received directly by individuals” will not be affected by the White House’s
KEY TAKEAWAYS Federal student loan borrowers can get some relief from payments if they live in areas where the Southern California wildfires caused up to $275 billion in damages and economic loss. Residents of one of the Federal Emergency Management Agency (FEMA)- designated areas can request a three-month forbearance from their loan servicer. This pause
KEY TAKEAWAYS Before being elected, President Joe Biden promised broad student loan forgiveness and more generous repayment plans. However, he only accomplished some of his proposals. The Supreme Court blocked Biden’s initial student loan forgiveness plan, and legal challenges are still preventing his more generous income-driven repayment plan from being implemented. Under various other initiatives
Published January 17, 2025 05:02 PM EST Investopedia / Photo Illustration by Alice Morgan / Getty Images KEY TAKEAWAYS Joe Biden’s administration oversaw several rounds of student loan forgiveness, totaling $188.8 billion for 5.3 million borrowers. The Biden administration granted loan forgiveness and discharges to borrowers in income-driven repayment plans, the Public Service Loan Forgiveness