Do you have student loans to pay off? You're certainly not alone. Personal finance company WalletHub released its list of states with the highest student loan payments, and Massachusetts took the No. 2 spot. The list was compiled based on consumer data and the median...
While saving for college is a great way to prepare for your Massachusetts child’s future, it can also penalize you when it comes time to apply for financial aid. The Free Application for Federal Student Aid (FAFSA) form is used by most institutions to calculate aid....
For Massachusetts students who have taken out loans or plan to, President Donald Trump’s “One Big Beautiful Bill” which he signed could have drastic effects. From restricting how much people can borrow to completely eliminating repayment plan options, the bill will be...
Source: Fidelity Investments *This hypothetical example illustrates the potential value of different regular monthly investments for different periods of time and assumes an average annual return of 4.5% rounded to the nearest $50. Contributions to a 529 plan account...
Interest rates on new federal student loans are rising again this year, which means it will be even more expensive to borrow money for Massachusetts college students Undergraduate loans will now carry a rate of 5.50%, up from 4.99% last year. Graduate student direct...
If you borrow for college for your Massachusetts children with federal student loans and you fail to repay them, you should know that the federal government may reduce your annual Social Security income by an average of $2,500. We say “may” because there are scenarios...
529 plans can make it easier for Massachusetts families to save for their children's college educations thanks to the tax breaks they offer. But the accounts have always had a pretty significant drawback: If you withdraw money from them to use for anything other than...
Massachusetts parents are continuing to save for college with 529 plans as the fate of President Joe Biden’s student debt loan relief program is awaiting a Supreme Court decision in June. These plans, which are advantaged savings plans designed to encourage saving for...
Over 20,000 Massachusetts babies have already begun saving for college. BabySteps, a program from the Office of Economic Empowerment that jumpstarts families into saving for their children’s higher education, has cleared the new signup milestone. The program, run by...
Student loan borrowers in Massachusetts who are in default may see their Social Security benefits diminish. The Social Security Administration (SSA) can take up to 15% of benefits to pay off student loans in default, according to the Legal Aid Society of Cleveland....