Author: administración

200,000 Borrowers Await Ninth Circuit Ruling on $12 Billion Student Loan Settlement

Loans

Exterior view of the United States Court of Appeals, Ninth Circuit Key PointsThe Ninth Circuit Court of Appeals heard arguments today on the Education Department’s motion to stop the Sweet v. McMahon borrower defense settlement.Judge Wardlaw signaled impatience with the government’s delays, stating: “The time for negotiating is over. You missed your deadline.” More than 200,000 student loan borrowers are awaiting loan forgiveness as a result of this litigation. A federal appeals court heard arguments on Friday over whether the Education Department can further delay a court-approved settlement that promises loan discharges, payment refunds, and credit report corrections to more than…

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Spousal IRA: How Non-Working Spouses Can Still Save for Retirement

Passive Income

Key PointsA non-working spouse can contribute up to an IRA, as long as the household has enough earned income to cover the contribution.Couples must file taxes jointly to use a spousal IRA, and the working spouse’s income must equal or exceed the total contributed across both accounts.Whether a Traditional spousal IRA contribution is tax-deductible depends on whether the working spouse has a workplace retirement plan and the couple’s combined modified adjusted gross income (MAGI). Millions of Americans leave the workforce each year — to raise children, care for aging parents, or simply because one income is enough. But stepping away…

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