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A new study shows that the parents who take on the greatest college debt repayments tend to be those who are black, have two children 17 or older with college-related debt, have a college degree themselves, and are upper-middle income or high-income earners. The average debt was around $21,000. High-income parents repay an estimated $30,000 in college debt on their childís behalf. This could have implications for parents, such as delaying retirement.
The Government Accountability Officeís recent analysis of characteristics of student loan debt using data from the Departments of Education (DoEd), Treasury, and the Social Security Administration (SSA) from fiscal years 2001- 2015 shows that for older borrowers subject to offset for the first time, about 43 percent had held their student loans for 20 years or more. In addition, three-quarters of those older borrowers had taken loans only for their own education, and most owed less than $10,000 at the time of their initial offset.
The annual online shopping frenzy is in session, which means consumers need to be on the lookout for cyber scams, from phishing emails to malicious advertisements, fraudulent apps and illegitimate coupons and surveys.
As the years go by and mom and dad age, life can become complicated. Certain things are practically impossible to prepare for, while others, like finances, can and should be organized and taken care of early on. What do you need to know about your parents’ finances? &nb...
When disaster hits, communities rally to support those affected. If you're interested in helping those distressed by Hurricane Matthew, visit USA.gov. If you decide to donate money to charities, make sure you do your due diligence on the charity you're giving to. The Federal Emergency M...
Kiplinger has revealed its annual list of the most and least tax-friendly states for retirees. Kiplingerís 2016 Retiree Tax Map reveals senior tax breaks across all 50 states, and compares taxes on income (including Social Security benefits, pensions and other forms of retirement income), property, everyday purchases and, ultimately, your estate.
With October being Disability Employment Awareness Month, the unemployment rate for persons with a disability rising and 2015 disability benefits barely enough to keep a beneficiary above 2014 poverty levels, the personal-finance website WalletHub conducted an in-depth analysis of 2016ís Best & Worst Cities for People with Disabilities.
The U.S. Census Bureau has released the official poverty statistics for 2015. Although the trends are positive and the poverty rate for seniors has decreased, the official statistics donít tell the full story on senior poverty in the United States, especially as it relates to women and communities of color.
Your elder loved one is in the hospital in a bed, but is he or she an inpatient or an outpatient under observation? Donít make the mistake of thinking it doesnít matter. It does
If you are providing care for an older loved one who lives in their own home, chances are they want to stay there for as long as possible, advises the Cleveland, OH-based Benjamin Rose Institute on Aging. If this is the case, you need to be aware that home upkeep may become a challenge, especially if your loved one has mobility issues.
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