On Wednesday, May 4, 2022, the Federal Reserve Bank announced they will be raising interest rates by a half-point. The rising rates have been at their highest point in more than 20 years, and the increased rates have caused the stock market to go into a frenzy, with the S&P 500 dropping by 3.5% the following day.
by Matin VarshochiDuring the COVID-19 pandemic, there was high economic turmoil. To help keep the economy going, the Federal Open Market Committee (FOMC) determined that it was a good idea to lower interest rates to an all-time low.
by Nailah HerbertOverseas events such as the invasion of Ukraine often reach beyond their borders, impacting global financial markets, energy prices, and mortgage rates.
by Pam HillRefinancing is not right for everyone. Banks will try to push you to refinance because they can get you a lower rate or a lower monthly payment. That doesn't mean that refinancing is the best long-term choice. Here is how to decide whether to refinance.
by Shaun MorganThe Biden administration recently announced that it will not extend the federal student loan forbearance deadline, which is set to expire on January 31, 2022.
by Nailah HerbertGroup economics is when groups of people have a common economic goal and work together to achieve it, and is one route that assists with the closing of the racial wealth gap, including the practice of supporting local businesses.
by Nailah HerbertPresident Joe Biden recently announced that the government has canceled $11.5 billion in student loan debt. Currently, the outstanding student loan debt is $1.73 trillion, according to the Federal Reserve.
by Nailah HerbertIs refinancing your student loans the best option for you and your financial wellness? Check out the infographic below to learn more about the process, requirements, and benefits of refinancing your student loans.
by Viviana VazquezLet's explore how the payment relief options will affect you long after the pandemic is over. Your financial future depends on making sound decisions now so that you know what to expect later. There are four scenarios that you could encounter after agreeing with your lender to modify your payment schedule.
by Jala EatonCo-signing on a loan is a big responsibility that shouldn’t be taken lightly. Knowing the pros and cons of doing such an act for someone else is essential. Let’s take a deep dive into what co-signing means, the effects of co-signing, and more.
by CapWay