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The interest rate for direct federal undergraduate student loans disbursed after July 1, 2024 will be 6.53%, the Department of Education announced Tuesday. That's up from the current 5.5% interest rate, and the highest rates have been since 2008, according to ED data. New graduate student loans will have an 8.08% interest rate and parent PLUS loans will come with a 9.09% rate. Here are three ways to lower your overall college costs and reduce the amount you may need to borrow. Starting your college education at a community college or trade school is one way you may be able to cut down on costs while racking up course credits.
Persons: That's, Gabriella Carter, Ethan Nguonly, Nguonly hustled, Nguonly Organizations: Department of Education, Princeton University grad, CNBC, University of California — Locations: University of California — Berkeley
Read previewI recently reviewed my Yale admissions file after being a student there for three years. I believe that everyone's college application journey is unique and that mine is just one sample, but I equally understand the urge to hear about other people's experiences. So, I'm now sharing a deeper look into my college application. I tried to highlight my passions in my extracurricularsThe author's college application. I wanted to capture who I truly am in my college essayThe author's college essay.
Persons: , I'm, Brian Zhang, Brian, genuineness Organizations: Service, Yale, YouTube, Business, Dartmouth, Colleges, Ivy League Locations: Sunset Park , Brooklyn, Brooklyn
Now look at AI, we’re going to have that same disruption except it’s going to be much faster. We really need to rethink how we manage change. There are many communities and many groups of individuals who don’t really feel like contemporary capitalism is serving them well. If I said, “I’m going to have a block grant for communities. I’m going to boost community colleges,” why is that bad?
Persons: Columbia Business School Glenn Hubbard, Bell, Hubbard, they’ve, that’s, it’s, That’s, I’m, don’t, we’re, “ I’m Organizations: CNN Business, Bell, New York CNN, Columbia Business School, Biden Locations: New York, United States
Hartford, Connecticut Sean Pavone | Istock | Getty ImagesWhen it comes to improving access to higher education, each state is largely left to its own devices. Connecticut, for example, recently rolled out several programs to establish pathways to college and lower the debt burden. Free college program"We're trying to do everything we can to make education less expensive to start with," Lamont said. Like a growing number of states, Connecticut recently introduced a free tuition program for students attending community college either full- or part-time. In Connecticut, students receive "last-dollar" scholarships, meaning the program pays for whatever tuition and fees are left after federal aid and other grants are applied.
Persons: Hartford , Connecticut Sean Pavone, Anthony Carnevale, Ned Lamont, Here's, Lamont, Joe Biden, Terrence Cheng, Sandy Baum, Baum Organizations: Istock, Georgetown's Center, Education, Workforce, CNBC, Free, Finance, Harvard, State Colleges, Urban Institute's Center Locations: Hartford , Connecticut, Connecticut, , Connecticut
Hybrid sales are booming in the US. In his latest earnings report, the company blamed demand for hybrid vehicles for depressing global EV sales. "We believe this is not the right strategy, and electric vehicles will ultimately dominate the market," he added. "A lot of hybrid electric vehicles now are not far off from their internal combustion engine alternatives. "What we've seen historically is that when gas prices rise, hybrid electric vehicle price or acquisitions rise as well," he told BI.
Persons: , Elon Musk, Nick O'Brien, O'Brien, EVs, Edmunds, Mark Singer, Tesla, Jeff Buchanan, Buchanan, Singer Organizations: Toyota, Service, EV, General Motors, Ford, Business, Jefferson Community College, Maverick, New York Times, National Renewable Energy Laboratory, Soaring, Singer, US Locations: Edmunds, North America, Kentucky
New York CNN —The good news is your child got into college and is preparing to enroll this fall. The bad news is that you’ve just learned the aid package your child’s school is offering is much smaller than you’d hoped. Over four years of college, students can take out a total of up to $27,000. “That’s cash-flow friendly while your child is in college,” Walker said. Also, Bogardus suggests checking to see if your state offers a tuition aid plan or subsidized loan rates for educational expenses.
Persons: you’ve, sobering, , Beth Walker, , ” Walker, they’ve, Joseph Bogardus, it’s, Bogardus, Skip, Walker, you’ll Organizations: New, New York CNN, College Board, Center for College Planning Solutions, College, , Stafford, PLUS Locations: New York, New England, Stafford
A millennial quit his job in 2015 to pursue a college degree because his career growth had stalled. AdvertisementIn 2015, at age 34, Dan Colflesh decided to quit his job in the customer service industry and pursue a college degree. AdvertisementColflesh said he's been looking for work over the last few years and applied to more than 100 jobs. Colflesh has a few other theories for why his job search has been difficult. AdvertisementAre you a man who's not looking for work or has struggled to find a job?
Persons: he's, who've, , Dan Colflesh, hasn't, Colflesh, it's, couldn't, He's Organizations: Service, University of Massachusetts, Bureau of Labor Statistics Locations: Massachusetts, University of Massachusetts Amherst, Appalachian
Washington CNN —President Joe Biden’s decision this week to make public his ultimatum that a major Israeli offensive in the city of Rafah would result in a shut-off of some US weapons did not come easily or lightly. Last week, Biden signed off on a pause of 3,500 bombs to Israel that administration officials feared would be dropped on Rafah. Aware or not of the president’s views, Israeli officials reacted with shock to the public announcement. Israeli officials also sought to downplay the significance of Biden’s announcement. It marked the clearest signal yet that six months into the war, Biden was starting to seriously consider conditioning US support for Israel.
Persons: Joe Biden’s, Benjamin Netanyahu, Biden’s, Netanyahu, Biden, Still, CNN’s Erin Burnett, he’d, ” Biden, Burnett, wasn’t, , Erin Burnett, , John Kirby, Kirby, Daniel Hagari, Israel, , Jesus, Israel’s, ” Kirby, straightforwardly, pare, Donald Trump, Utah Sen, Mitt Romney, Mike Johnson, who’d, Pennsylvania Sen, John Fetterman, they’re, CNN’s Manu Raju, Sen, Jon Tester, Ben Cardin, “ I’m, I’ve, we’ve, ” Sen, Bernie Sanders Organizations: Washington CNN, Israel Defense Forces, White, National Security, CNN, Kitchen, Capitol, Israel, Biden’s CNN, GOP, Politico, Pennsylvania, Foreign Relations Locations: Rafah, Gaza, Israel, Wisconsin, I’m, Rafah Israel, “ Israel, Utah, Montana, Vermont
Cheryl Simmons, a parking lot attendant, lives in her car but makes too much for affordable housing. She lives in her car, even though she makes about $42,000 a year. She makes slightly too much for a single-room occupancy unit in affordable housing and exceeds the income limit for food stamps and other government assistance. AdvertisementSimmons is one of the 30 million "peak boomers" entering retirement age in the next few years, but most are not financially prepared to retire. A new report from the Alliance for Lifetime Income's Retirement Income Institute found that 52.5% of peak boomers have below $250,000 in assets.
Persons: Cheryl Simmons, Simmons, , she'll, she's, ALICE —, ALICE, it's Organizations: Service, Alliance, Lifetime, Assistance, Food Locations: San Diego, Albuquerque, California, Texas
Signage at a job fair at Brunswick Community College in Bolivia, North Carolina, US, on Thursday, April 11, 2024. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. Average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation. The jobless rate tied for the highest level since January 2022.
Persons: Dow Jones Organizations: Brunswick Community College, Reserve, Dow Locations: Bolivia , North Carolina, U.S
Here's what to expect from the April jobs report on Friday
  + stars: | 2024-05-02 | by ( Jeff Cox | ) www.cnbc.com   time to read: +5 min
Allison Joyce | Bloomberg | Getty ImagesHiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. If that top-line number is accurate, it actually would reflect a small step back from the average 276,000 jobs a month created so far in 2024. April's jobs market featured more strength in health care and leisure and hospitality, Glaser added. Beating expectationsIndeed, the labor market has been full of surprises this year, topping Wall Street estimates at a time when many economists expected hiring to have slowed down. "The Goldilocks scenario is an unemployment rate rise with a participation rate rise," Matus said.
Persons: Allison Joyce, Nonfarm payrolls, Dow Jones, Amy Glaser, resiliency, Glaser, we've, Drew Matus, Matus, Jerome Powell Organizations: Brunswick Community College, Bloomberg, Getty, Federal Reserve, MetLife Investment Management, of Labor Locations: Bolivia , North Carolina
The hallmarks of a state dinner were there: lavish floral displays festooning the White House, the first lady arriving in a floor-length sequined gown, and members of Congress and cabinet secretaries mingling with attendees. But the honored guest was not the president of France or the prime minister of Japan. It was Missy Testerman of Rogersville City School in rural Tennessee. Jill Biden, the first lady, kicked off a new format for delivering the National Teacher of the Year award on Thursday by hosting this year’s winner, Ms. Testerman, and dozens of other teachers from across the country at the White House with a ceremony emulating the pomp normally reserved for foreign dignitaries. “Tonight we celebrate you because teaching isn’t just a job, it’s a calling,” Dr. Biden said, adding, “To answer this call of service is in itself an act of hope.”
Persons: Missy Testerman, Jill Biden, Testerman, Dr . Biden, isn’t, it’s, ” Dr, Biden, Organizations: Rogersville City School, White Locations: France, Japan, Tennessee
A college enrollment crisis is likely coming this fall. It's a result of complications with the FAFSA form, along with a lower supply of high school seniors. There's also a limited supply of high school seniors right now due to lower birth rates during the Great Recession. But the immediate enrollment shock will likely come this fall — and both students and colleges will feel the impact. AdvertisementAre you a recent high school graduate not going to college?
Persons: It's, , aren't, Katharine Meyer, Gen Zers, MorraLee Keller, Keller, There's, Meyer, They're, they're, there's, Hodges University —, Zers Organizations: Service, Brown Center, Education, Brookings Institution, National Center for Education Statistics, Federal Student Aid, Education Department, National College, Hodges University Locations: Florida, New York, Texas
Two White House officials noted that the number of speeches for Biden and Harris is similar to the two previous years. Another White House official declined to preview how Biden might address the campus unrest. Biden campaign officials say that despite the media focus on campus protests, public polling and their own research show that young voters are more concerned with other issues. "We know from the conversations we have that young voters are planning to vote, and voters are planning to vote for us," she said. Rep. Ro Khanna, D-Calif., visited multiple Wisconsin college campuses this week as a member of the Biden campaign's national advisory board.
Persons: Joe Biden, Kamala Harris, Biden, Harris, Jill Biden, Barack Obama, Karine Jean, Pierre, John Della Volpe, Della Volpe, Eve Levenson, aren't, Levenson, Ro Khanna, It's Organizations: U.S, Capitol, Montgomery County Community College, Morehouse College, U.S . Military Academy, West, Air Force Academy, White House, Barnard College, Joplin High School, White, Harvard University, Harvard Kennedy School Institute of Politics, Biden campaign's, Freedoms, Democratic, Biden, Harvard Locations: Blue Bell, Valley Forge , Pennsylvania, U.S, West, Virginia, Florida, Gaza, Wisconsin
Read previewMy college journey began at 40 years old when I enrolled in a community college. Not only was I starting college later in life, but I was also doing it as a mother of five children — ages 8 to 14. Related storiesInitially, I attended classes while my children were in school, praying no one got sick. I had all my children help out around the houseFrom shopping and meal preparation to laundry and cleaning, everyone helped — regardless of their age. AdvertisementI may have started college to help my children and to prove my father wrong, but I finished to help myself.
Persons: , didn't, here's Organizations: Service, Business, Sports, University of Pennsylvania
Municipal governments across the United States are looking to rein in spending as pandemic-era stimulus dries up and inflation lingers for longer than expected. The group issued a AA investment grade general obligation bond rating for New York City in March 2024. The financial challenges within cities appear to be mounting despite high municipal credit ratings and robust demand for urban commodities like housing. "I think we can all agree that we're broke," said Houston Mayor John Whitmire in a March 2024 City Council budget hearing. Meanwhile, in the case of New York City, leaders remain optimistic about future returns.
Persons: Michael Rinaldi, Brad Lander, Sheila Weinberg, we're, Houston Mayor John Whitmire, Weinberg, We've, Lander, Eric Adams, Rinaldi, Adams Organizations: Fitch, AA, New, Truth, University of Denver, New York, Apple, Houston Mayor, Accounting, CNBC, Lander Locations: United States, U.S, New York City, Chicago, Houston, Portland , Oregon, New York
The new Florida law has limited exemptions for rape, incest and to protect the life of the mother. In the electionPresident Joe Biden visited Florida to focus on abortion rights Tuesday. Referendums placing the issue of abortion rights before voters will be on the ballot in Arizona and Florida. New realityIt is the cases currently before the Supreme Court that could have the most direct effect on the new reality for pregnant American women. Cox fled Texas to obtain an abortion just before the state Supreme Court denied her access to the care under the medical exemption in Texas’ abortion law.
Persons: Roe, Wade, Joe Biden, Kamala Harris, CNN’s Edward, Isaac Dovere, Donald Trump, Wade . Biden, Harris, Trump, CNN’s Tierney Sneed, , Read, Jen Adkins, Adkins, CNN’s Meg Tirrell, John Bonifield, Julie Lyons, who’s, ” Lyons, Allie Phillips, Dobbs, Amanda Zurawski, Trump’s, Jill Biden, Kate Cox, Cox, CNN’s Priscilla Alvarez, Michael Williams, Dale Mabry, Biden, Joe Raedle, Dovere, he’s, , Court’s Dobbs Organizations: CNN —, Senate, Biden, CNN, Jackson, Health, Hillsborough Community, Republican, Locations: Florida, Arizona, Florida ., Idaho, Sneed, Portland , Oregon, Hailey, Sun Valley, New York, Tennessee, Texas, Florida , Arizona, year’s State, Tampa , Florida
Here's what to do if you missed the federal tax deadline
  + stars: | 2024-04-23 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
The federal tax deadline was April 15 for most filers — and if you missed it, you should file your return and pay your balance as soon as possible, experts say. The late filing penalty is 5% of your unpaid balance per month or partial month, capped at 25% of your balance. Here's why it may work this timeHowever, that doesn't mean you should rush to file a return if you're still missing key information, like tax forms for your investments or other earnings. With missing information, the IRS could flag your tax return for audit, processing could be delayed or you could receive an agency notice. Of course, some filers in disaster areas automatically have more time to file federal returns and pay taxes owed.
Persons: Mark Steber, Jackson Hewitt, Biden, Steber Organizations: Finance, IRS
When President Joe Biden unveiled the details of his Plan B for student loan forgiveness, he revealed that his hope to make some college free was not dead. "I also want to make community college tuition free so you don't need loans at all," Biden said after including free community college as part of his $7.3 trillion budget for fiscal 2025. "Student loan forgiveness is a Band-Aid," said Ryan Morgan, CEO of the Campaign for Free College Tuition. "Loan forgiveness is a snapshot in time in terms of a fix," Morgan said. Alternatively, free college appeals more broadly to those struggling in the face of rising college costs, rather than after the fact.
Persons: Joe Biden, Biden, Ryan Morgan, overstepping, Morgan Organizations: Free College, Finance, Harvard
Biden and his wife report $620,000 income in 2023 tax returns
  + stars: | 2024-04-15 | by ( ) www.cnbc.com   time to read: +3 min
President Joe Biden and his wife Jill on Monday released tax returns showing that their income rose 7% to $619,976 in 2023 and that the couple paid 23.7% of their income in federal taxes. Biden released the data on the day U.S. taxes for the prior year are due, and as the Democrat seeks re-election in 2024. Joe Biden drew a $400,000 wage, while Jill Biden earned $85,985 from her job teaching English at Northern Virginia Community College. The proportion of Joe Biden's income that went to federal taxes was roughly equal to the prior year. Biden's running mate Vice President Kamala Harris and her husband, Douglas Emhoff, also released a tax return showing $450,380 income for 2023, federal taxes of $88,570 and charitable donations of $23,026.
Persons: Joe Biden, Jill Biden, Jill, Biden, Donald Trump, Trump, Joe Biden's, Kamala Harris, Douglas Emhoff Organizations: White, Democrat, Republican, Internal Revenue Service, U.S . House, Northern Virginia Community College, Epilepsy Foundation, of Police Locations: Virginia, Washington , U.S, New York, Scranton , Pennsylvania, Pennsylvania
Although I was born in Mexico, I spent most of my life living in the US so moving to Spain was a big difference. I've lived here for 14 months and I have a much better quality of life in Spain than I had in the US. Living in Spain has shown me there's a different way to existI love the work culture in Spain. I definitely miss my friends, but I wouldn't let that keep me from life in Spain. Correction: January 9, 2024 — An earlier version of this story misspelled the name of the person who moved to Spain.
Persons: Jeronimo Noriega, It's, I'd, Europe — I'd, I've, I'm, it's, Geronimo Organizations: Service Locations: Spain, Oviedo, Asturias, Northwest Spain, San Antonio, United States, Europe, Mexico, America, cafés
But I’m All Grown Up With a Job of My Own
  + stars: | 2024-04-13 | by ( Roxane Gay | ) www.nytimes.com   time to read: +3 min
You ProblemsI work in a wonderful environment where everyone cares about everyone … a little too much. Most colleagues are worried I’m going to burn out, which is fair, but I have the energy and capacity they don’t have anymore. You’re simply interested in developing a more robust skill set. This man is no longer your co-worker, so there is little downside to politely telling him you simply don’t have time to socialize when he comes in. Tell him you hope he is enjoying his retirement and wish him the very best in this new chapter of his life.
Persons: , You’re, it’s, Locations: eggshells
PhotoAlto/Dinoco GrecoGetting a college degree seems increasingly less appealing. College degree earners fall nearly 3%Community college pathway is 'at risk'Historically, a two-year degree was considered an economical alternative to a bachelor's, or even a more affordable pathway to a four-year college. In fact, just 16% of all community college students ultimately attain a bachelor's degree, according to recent reports by the Community College Research Center at Columbia University, the Aspen Institute College Excellence Program and the National Student Clearinghouse Research Center. Community college as a stepping stone is "at risk," Shapiro said, and "that's very bad news." Submitting a FAFSA is also one of the best predictors of whether a high school senior will go on to college, according to the National College Attainment Network.
Persons: Shapiro, Joe Biden, it's, Sandy Baum, Baum Organizations: Community College Research Center, Columbia University, Aspen Institute College Excellence, Student Clearinghouse Research, Community, Federal, National College, Network, Seniors, U.S . Department of Education, Education, Urban Institute
In particular, the researchers looked at a group dubbed "disconnected youth," who aren't working and are also not in school. As of 2022, disconnected youth comprised 13% of this age group; that share has been rising overall since 1998, according to calculations from the Federal Reserve Bank of Dallas. AdvertisementYounger Americans are facing stagnant incomesThe Dallas Fed found that, even after a post-pandemic dip, the rate of disconnected youth has increased since the end of the 1990s. AdvertisementAnd the number of young adults with no income has been on the rise; in 1990, around one in five young adults said they had no wage or salary income. Are you or were you a "disconnected youth," or supporting one?
Persons: , Louis, Gen, Zers, Louis Fed's, Louis Fed, William M, Rodgers III, Rodgers Organizations: Service, Louis Federal Reserve's Institute for Economic Equity, Business, Federal Reserve Bank of Dallas, Dallas Fed, Federal Reserve's Survey, Consumer, Louis Fed, National Health, Blacks, Louis, Louis Fed's Institute for Economic Equity
Still, the Biden campaign sees student debt forgiveness as a winning issue. The administration is working on developing another student loan forgiveness program, relying on a different legal authority this time. Student debt policy has come a long wayStill, student loan borrower advocates agree that forgiveness for nearly 4 million people is worth acknowledging. Before the 2016 presidential campaign, broad student debt cancellation was not an issue that candidates usually campaigned on. Cole also served on the Department of Education’s rulemaking committee tasked with developing the new student loan forgiveness program.
Persons: Joe Biden, Biden, It’s, , , Braxton Brewington, , ” Biden, Donald Trump, Trump, we’ll, it’s Joe Biden, Seth Schuster, Trump Democratic Sen, Elizabeth Warren –, Betsy DeVos, “ Joe Biden, ” Warren, DeVos, he’s, The Trump, it’s, There’s, that’s, Brewington, Wisdom Cole, Cole, Jill Biden’s, ” Cole, Warren, CNN’s Ariel Edwards, Levy Organizations: Washington CNN, Supreme, Republican, Biden, Trump Democratic, CNN, Education Department, Corinthian Colleges, The, PSLF, Department of Education, NAACP Youth & College Division, Department, Education’s, State, Union, Black, KFF, NAACP Locations: California, United States, Massachusetts
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