Author: administración
Discover is out of the student loan business. The lender stopped accepting new applications on January 31, 2024, and in July 2024 agreed to sell its roughly $10.1 billion private student loan portfolio. If you already have a Discover student loan, your account didn’t disappear — it’s now serviced by Firstmark Services. But you can no longer get a new loan from Discover.Since Discover was one of the larger student loan lenders, we have some Discover Student Loan alternatives below ->Why Discover Exited The Student Loan BusinessDiscover’s student loan unit drew federal scrutiny for years. The Consumer Financial Protection Bureau…
Key PointsThe “Student Loan Tax Bomb” is a term that refers to the taxes owed on forgiven student loan debt in some circumstances.The tax bomb is set to return for many borrowers in 2026.Programs like PSLF are always tax-free federally, but others, like IDR-based loan forgiveness may face tax consequences. Taxes on many student loan forgiveness programs are set to return in 2026 and beyond. The American Rescue Plan Act (ARPA) made student loan forgiveness, regardless of the reason, tax-free federally from 2021 to December 31, 2025. However, the Big Beautiful Bill did not renew most of those provisions. Instead,…
State-chartered nonprofit student loan authorities are rolling out graduate school loans to catch borrowers who lose access to federal Grad PLUS loans on July 1.Why it matters: The One Big Beautiful Bill Act closes Grad PLUS to new borrowers and imposes hard caps on what graduate and professional students can borrow from the federal government. For students in expensive medical, dental, law, and other advanced programs, that leaves a funding gap that only private loans or institutional aid can fill — and a handful of states are now trying to fill it themselves.Driving the news: Connecticut and Minnesota have each…
US appeals court blocks Trump admin from enacting new plans to slash consumer watchdog staff
“My understanding is that they have five years to withdraw the money.”
During his first press conference as Fed chair Wednesday, Kevin Warsh repeated one refrain in his answers to many reporters’ questions: A task force is looking into it.
European stocks tick lower as mining losses weigh
“We have combined savings of $950,000 in retirement plans, Roth IRAs and Treasuries.”
Part of the reason I’ve been writing about distribution and the importance of eventually betting on yourself was to gear myself up for Y Combinator Demo Day. For those unfamiliar, YC is the largest and arguably the best startup accelerator in the world. And it happens to be based in my backyard in San Francisco. I’ve been a startup investor since 2002, a venture capital LP since 2006, and a private company operator since 2009 with Financial Samurai. I’ve loved startups and the entrepreneurial life ever since spending my middle school years in Kuala Lumpur, Malaysia. The families with large…
People are still holding back on participating in Roth plans at work, Vanguard says.