Author: Arabian Media staff
If your federal student loan servicer changes, it means you’ll be dealing with a different company for loan management, payment processing, and customer service. This usually happens when federal contracts expire or your loan status changes. While the transition is designed to be seamless, it’s your responsibility to confirm that everything updates correctly. Key Takeaways Student loan servicers may change due to contract expiration or repayment plan updates.Keep an eye out for notices from both your old and new servicers, and update your contact and banking information with the new servicer right away.You’ll want to make copies of relevant documents,…
Teen employment in the U.S. has been declining for decades. Today, many working teens today come from higher-income families that encourage them to seek learning opportunities outside of the classroom. Source link
High inflation can both directly and indirectly make student loan repayments less affordable. As prices rise, borrowers may struggle to find sufficient room in their budgets for their monthly debt payments, especially if they have variable-rate loans that charge more amidst higher inflation. However, even fixed-rate student loans can be difficult to pay back during inflationary periods, due to the aforementioned budget constraints. Key Takeaways The effects of inflation are often cyclical: Rising costs mean businesses have to pay more to provide their goods and services, which usually leads to them raising their own prices.Inflation can affect student loan repayments…
When most people think about retirement, they imagine downsizing to a smaller home, thus enjoying fewer responsibilities and embracing a lighter financial load. Downsizing often brings perks such as reduced maintenance, lower utility bills, and freeing up extra money that can be spent on travel and hobbies. But for some, retirement sparks the opposite idea: upsizing. Whether it’s to be closer to family, accommodate caregiving, or finally purchase a dream home, some retirees consider buying a larger, more expensive property. Key Takeaways Upsizing is often driven by personal and lifestyle reasons, not financial benefits. Due to having a fixed income…
Student loans can be costly, but securing a lower interest rate can help you save money by reducing your monthly payments. From applying for consolidation (or a refinance) to setting up autopay, there are a few smart tactics you can employ to reduce your rate and make your debt more manageable. Key Takeaways Interest rates on student loans vary based on the loan type, the borrower’s credit score, and the lender.Consolidating or refinancing your loans can simplify payments and may grant you a lower interest rate.Depending on the lender, you may earn an interest rate discount for setting up autopay.…
Want a peek into the mind of the ultrarich? Check out their summer reading list. For 26 years, J.P. Morgan has been providing a summer reading list for its clients all over the world. This year’s list focuses on curiosity. “Our 2025 Summer Reading List is a celebration of curiosity’s boundless power,” said Darin Oduyoye, chief communications officer of J.P. Morgan Asset and Wealth Management. “This year’s selections challenge us to think and explore boldly. With topics ranging from personal values to innovative frontiers such as AI, electric vehicles, and the universe’s wonders, this list is designed to inspire growth and…
Big Tech is expected to see double the earnings growth of the S&P 500, as long as the group can maintain momentum in a key area. Source link
Saving for retirement is arguably one of the important financial goals in your life. That’s because it impacts your financial security and quality of life, especially after you leave the workforce. Although it’s never too late to start saving at any age, the earlier you start, the better for various reasons. Not only do you secure your financial independence, but you also benefit from compound growth, protect yourself from inflation, and don’t have to rely on Social Security as your sole source of income. Key Takeaways There are many benefits to saving early for retirement, including the power of compounding…
Orders for long-lasting goods skyrocketed 16% in May to mark the biggest increase in 11 years, but the headline number was exaggerated by a flush of new Boeing contracts that masked ongoing weakness in business investment. Source link
You may fantasize about owing a comfortable lake house in a quiet rural setting, but such homes often come with their own problems. Among other issues, well water can contain higher-than-acceptable levels of uranium and/or radon. Fortunately, you don’t have to give up on your dream of having a vacation home, as there are systems you can have installed that filter out these contaminants. Key Takeaways Uranium and radon occur naturally but can be hazardous to your health if they exceed certain levels. Municipal water systems filter out these contaminants, but homeowners who rely on well water may need to…