Category: Loans
A Comprehensive Guide to 2024’s New and Used Car Payment Trends
Car costs have been rising significantly, and inflation has played a major role, pushing auto loan interest rates to their highest levels in decades. ### Increased Car Costs Heading Into 2024 As we move into 2024, car payments are on the rise, whether you’re buying or leasing a new or used vehicle. The overall expense…
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Deciding Between Leasing and Buying a New Car in 2024: 9 Key Advantages and Disadvantages
If you’re in the market for a new car, you’ve probably wondered whether it’s better to buy or lease. The answer isn’t straightforward and depends on various factors that can change over time. Both options have their advantages and disadvantages. ### Leasing a New Car in 2024 When you lease a car, you don’t own…
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Savings on Your 2024 Mortgage: The Impact of Expert-Projected Interest Rates
There’s some good news for those looking to buy a home: industry experts are predicting a noticeable drop in mortgage rates after they peaked in late 2023. If these predictions hold true, potential homeowners could see real savings. To understand this better, let’s first look at the current mortgage market and how these predictions might…
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Navigating Student Loans: Key Repayment Challenges and Strategies to Save Money
Student loans resumed in October after a three-year break, following the Supreme Court’s decision to strike down President Joe Biden’s forgiveness program in June. Since then, many borrowers have encountered issues with their loan servicers, as highlighted in a recent Consumer Financial Protection Bureau (CFPB) report. These problems include long wait times to reach loan…
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Future Prospects for Student Loan Forgiveness in 2024
President Joe Biden’s efforts to forgive federal student loan debt have faced significant opposition from lawmakers and legal authorities. Despite this, he continues to explore debt relief options. Recently, his administration announced the elimination of approximately $1.2 billion in debt for over 150,000 borrowers enrolled in the Saving on a Valuable Education (SAVE) Plan. This…
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The Unexpected Burden of Student Loans on Boomers — Effective Strategies for Rapid Reduction
The average student loan for boomers, those born between 1946 and 1964, is a staggering $43,554. Despite being an older generation, boomers carry more student loan debt than any other generation. Let’s explore why boomers have the highest student loan debt and how they can reduce it quickly. ### Reasons Boomers Have the Most Student…
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Ingenious Strategies for Homebuyers to Secure Reduced Mortgage Rates in 2024
If you’re looking to buy a new house, you might be concerned about how to manage the mortgage, especially with rates hovering around 7%. Some buyers are finding creative ways to secure lower mortgage rates. ### Consider an Assumable Mortgage One option is to purchase a home with an assumable mortgage. This means you take…
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The Financial Landscape of Higher Education Across the United States
As people across the United States continue to pursue higher education, understanding the financial aspects of college tuition is essential for making informed decisions. To assist those in college or considering higher education, GOBankingRates conducted a study on average tuition costs at colleges across the U.S. for the 2022-23 school year. The study found that…
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Navigating Autopay for Student Loans: 6 Pitfalls to Steer Clear Of
Managing your student loans can feel daunting, but autopay offers a simple way to keep your payments on track. However, using autopay effectively involves more than just setting it up and forgetting about it. To help you avoid common pitfalls, here are six important dos and don’ts for using autopay with your student loans. This…
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Anticipating the Arrival of 9 Groundbreaking Cars
By the time consumers see the new-model vehicles debut each fall, automakers have already spent three to five years developing these showroom-ready cars. Due to design and safety changes along the way, the life cycles and projected release years can vary significantly. However, automakers don’t keep all their upcoming models a secret. Here are nine…
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