The “Saving on a Valuable Education,” or SAVE plan, announced in August 2023, is not just for civilians. Service members, family members and civil servants alike can also benefit from the program to help reduce or even eliminate student loan debt. The SAVE plan, managed by the Department of Education, is an income-driven repayment plan…
Experts say there are a few good ways to get out of credit card debt if you’re overwhelmed by what you owe. Getty Images Credit cards have never been a cheap way to finance purchases, but thanks to the Federal Reserve’s recent moves, today’s consumers are seeing the highest rates in decades. The Fed started…
As medical debt grows more prevalent and harmful, state and local governments are taking action to forgive debt in their region. How can we expand these one-off actions into policy changes that prevent debt before it starts? The toll of medical debt Medical debt keeps the most vulnerable under water with an unavoidable financial burden,…
Credit: Pixabay/CC0 Public Domain When it comes to helping Americans manage rising health care costs, one increasingly popular policy stands out for both its simplicity and potential payoff: Buy up vast amounts of medical debt for pennies on the dollar and cancel it, thereby giving struggling families a break from one major stressor. Over the…
President Joe Biden has just taken another broad swipe at student debt, recently announcing an array of policies that will reduce or eliminate student debt for millions of borrowers. Spreading the word at three separate events on April 8, Biden, Vice President Kamala Harris and Education Secretary Miguel Cardona sat down with AFT members and…
From Philly and the Pa. suburbs to South Jersey and Delaware, what would you like WHYY News to cover? Let us know! Philadelphia social worker Kelly Monique Gray wept as she shared what it meant for her student loans to be forgiven. Gray shared her experience during a roundtable discussion in North Philadelphias Fairhill neighborhood.…
President Joe Biden said on Monday at an event in Madison, Wisconsin, that his latest efforts to reduce or eliminate student debt would be a boon to the US economy. Mr Biden said his administrations newest initiatives are an outgrowth of his promise to find alternative paths to reduce student debt loads that have become…
Credit card debt relief can work for the right person, but it may not be the best fit for every borrower. Cavan Images Today’s high interest rate environment is making borrowing money expensive, and while there could be rate cuts later this year, it’s looking less likely right now. Not only has inflation remained persistent, but…
A nonprofit group called R.I.P. Medical Debt has relieved Americans of $11 billion in hospital bills. But that did not improve their mental health or their credit scores, a study found. Over the past decade, R.I.P. Medical Debt has grown from a tiny nonprofit group that received less than $3,000 in donations to a multimillion-dollar…
Higher education financing allows many Americans from lower- and middle-income backgrounds to invest in education. However, over the past 30 years, college tuition prices have increased faster than median incomes, leaving many Americans with large amounts of student debt that they struggle or are unable to, pay off. Recognizing the burden of this debt, the…