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☆ FAFSA 'fiasco' could cause decline in the number of students going to college, experts say
▼ + stars: | 2024-03-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

"Students have no confidence that they are going to get the financial aid they need to make college affordable and they are opting out." Under the new aid formula, an additional 2.1 million students should be eligible for the maximum Pell Grant, according to the U.S. Department of Education. However, given the slower pace of FAFSA applications being submitted, "the number of Pell Grant recipients will be about the same as last year, despite the new Pell Grant formula making it easier for students to qualify," Kantrowitz said. "The goal of FAFSA simplification was to increase the number of lower-income students applying. FAFSA completion paves the way to college

Persons: Anne Zinn, Kantrowitz, Pell Grant Organizations: National College, Network, Norwich Free Academy, U.S . Department of Education Locations: Norwich, Conn

☆ Biden wants to make student loan forgiveness tax-free permanently
▼ + stars: | 2024-03-18 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Sara Stathas | Bloomberg | Getty ImagesHow student loan forgiveness used to be taxedBefore that Covid-era change, any student loan debt canceled by the government was considered taxable and levied at the borrower's normal income tax rate. The federal tax bill could be hefty. watch now'Replacing education debt with tax debt'Many student loan borrowers who get forgiveness aren't able to afford a tax bill, Kantrowitz said. If borrowers sign up for a payment plan with the IRS, they're merely "replacing education debt with tax debt," Kantrowitz said. Other student debt forgiveness plans, including a popular one for public servants and another that cancels the debt for those with serious disabilities, are already nontaxable.

Persons: Joe Biden, Sara Stathas, Mark Kantrowitz, Kantrowitz, aren't, they're Organizations: Hillside Boys, Girls Club, Bloomberg, Getty Locations: Milwaukee , Wisconsin

☆ White House targets 'junk fees' on student loans and other higher education costs
▼ + stars: | 2024-03-15 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The White House is talking up its actions to reduce the expenses burdening students, including moving to end origination fees on student loans. While most private lenders have done away with student loan origination fees, the federal government still charges them. Federal student loan borrowers can face expenses of 1% to 4% of their total borrowing amount. The White House said on Friday it considers these "junk fees," which it defined as "hidden costs or surprise fees that companies and institutions include on customer or student bills, increasing their costs." "By eliminating origination fees on federal student loans, borrowers should be able to borrow less to cover their costs," said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit.

Persons: Joe Biden, Culver City Julian, Biden, Joe Biden's, Betsy Mayotte, Mark Kantrowitz Organizations: Culver City, Culver City Julian Dixon Library, Federal, Consumer, The, Student Loan Advisors, Finance Locations: Culver City , CA, California

☆ Not all AI players need to be a part of the Magnificent 7, says Alex Kantrowitz
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot all AI players need to be a part of the Magnificent 7, says Alex KantrowitzAlex Kantrowitz, Big Technology Founder, discusses whether Adobe should take Tesla's place in the Magnificent 7.

Persons: Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Adobe

☆ Biden touts 'fixed' student loan forgiveness programs in State of the Union. Here's what he meant
▼ + stars: | 2024-03-08 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Income-driven repayment plansIncome-driven repayment plans, which date to 1994, set borrowers' monthly payments based on a share of their discretionary income. "The loan servicers weren't keeping track of the number of qualifying payments," Kantrowitz said in a previous CNBC interview. watch nowThe Biden administration has been evaluating millions of borrowers' loan accounts to see if they should have had their debt forgiven. Most people with federal student loans qualify for income-driven repayment plans, and can review the options and apply at Studentaid.gov. Public Service Loan ForgivenessNavigating the Public Service Loan Forgiveness program has been famously difficult.

Persons: Joe Biden, Shawn Thew, Mark Kantrowitz, Kantrowitz, Biden, George W, Bush Organizations: Chamber, Afp, Getty, CNBC, Education Department, Valuable Education, Public, Consumer Financial Locations: Washington ,

☆ Google can recover from the Gemini flop. Just look at Apple Maps.
▼ + stars: | 2024-03-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Google's Gemini flop looks bad from the outside. Ask the folks who worked on Apple Maps. Apple Maps fiasco could point the way forwardBut let's be more positive this time around, with a different echo from the Big Tech Screwups file: Remember Apple Maps? And then, over time, Apple did get its act together, and people did start using Apple Maps, and now there are plenty of normal people who use Apple Maps as a default, and some of them even argue that it's better than Google Maps. Except: The time between Apple Maps' flop and that article I linked to above — headline: "People Have Begun to Love Apple's Most Hated Product" — was more than a decade.

Persons: —, Alex Kantrowitz, wokeness, OpenAI, Hunter, Tim Cook, Cook, Apple's, Gemini Organizations: Google, Big Tech, Apple, Service, Gemini, Microsoft

☆ Issues with new FAFSA may cause 'shocking' decline in the number of students getting college aid, expert says
▼ + stars: | 2024-02-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Under the new aid formula, an additional 2.1 million students should be eligible for the maximum Pell Grant, according to the Department of Education. "The goal of FAFSA simplification was to increase the number of lower-income students applying. The new FAFSA was meant to improve college accessIn ordinary years, high school graduates miss out on billions in federal grants because they don't fill out the FAFSA. In New York alone, students left $226 million in Pell grants on the table in 2023. Jacobson is sponsoring a bill requiring high school seniors to complete the FAFSA.

Persons: Pell Grant, Kantrowitz, Jonathan Jacobson, Jacobson Organizations: Department of Education, York, Universal, National College, Research Locations: New York, Pell, Louisiana

☆ Google's search isn't in danger of replacement by AI, says Big Tech's Alex Kantrowitz
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle's search isn't in danger of replacement by AI, says Big Tech's Alex KantrowitzCNBC’s Deirdre Bosa and Big Technology’s Alex Kantrowitz, join 'Closing Bell' to discuss Google Gemini's AI inaccuracies and what it could mean for the mega cap tech company.

Persons: Big, Alex Kantrowitz CNBC’s Deirdre Bosa, Alex Kantrowitz Organizations: Google

☆ Watch CNBC’s full interview with Big Technology’s Alex Kantrowitz and Solus’ Dan Greenhaus
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Big Technology’s Alex Kantrowitz and Solus’ Dan GreenhausCNBC’s Deirdre Bosa, Big Technology’s Alex Kantrowitz and Solus’ Dan Greenhaus, join 'Closing Bell' to discuss Google Gemini's AI inaccuracies and what it could mean for the mega cap tech company.

Persons: Big, Alex Kantrowitz, Dan Greenhaus CNBC’s Deirdre Bosa, Dan Greenhaus Organizations: Google

☆ Reddit is a 'smaller, more volatile' Twitter, says Big Technology's Alex Kantrowitz
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReddit is a 'smaller, more volatile' Twitter, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Squawk Box' to discuss Reddit's decision to go public, the company's journey to IPO, Sam Altman's stake in the company, and more.

Persons: Big, Alex Kantrowitz Alex Kantrowitz, Sam Altman's Organizations: Big Technology

☆ After student loan forgiveness, the Education Dept. is sending some borrowers refunds. What to know
▼ + stars: | 2024-02-22 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

So far, almost 3.9 million borrowers have gotten their education debt erased, totaling $138 billion in relief . Under the U.S. Department of Education's income-driven repayment plans, student loan borrowers are entitled to get any of their remaining debt forgiven after 20 or 25 years. The companies earn a fee per borrower per month, which advocates say discourages transparency around loan forgiveness opportunities. "Loan servicers were not tracking the number of qualifying payments, and the automatic forgiveness was not occurring," Kantrowitz said. Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers, denied that the companies benefit by veering from the government's orders.

Persons: Joe Biden, Culver City Julian, Mark Kantrowitz, servicers, Nadine Chabrier, Kantrowitz, he'd, Scott Buchanan, Buchanan, Biden, who've, Persis Yu Organizations: Culver City, Culver City Julian Dixon Library, Education Department, U.S . Department of Education, U.S . Department, Center for, Lending, The Education, Finance, IRS, Student Loan, Alliance, Student, Protection Locations: Culver City , California, U.S

☆ New FAFSA 'loophole' lets grandparents help pay for college without affecting financial aid eligibility
▼ + stars: | 2024-02-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Under the old FAFSA rules, assets held in grandparent-owned 529 college savings plans were not reported on the form, but distributions from those accounts counted as untaxed student income. Still, the idea of a loophole is not entirely new, according to Kalman Chany, a financial aid consultant and author of The Princeton Review's "Paying for College." "There were always planning strategies that families could use when it came to third-party 529 plans," Chany said. "Even with this change, you still need to look before you leap if grandparents are going to help pay for college," Chany said. The other advantages of 529 plans

Persons: Mark Kantrowitz, Michael Green, Green, Kalman Chany, Chany Organizations: IRS, slims, Apollon Wealth Management, Princeton Locations: Charleston , North Carolina

☆ Big Technology's Alex Kantrowitz: The legal action against social media companies has merit
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology's Alex Kantrowitz: The legal action against social media companies has meritCNBC's Julia Boorstin with Big Technology's Alex Kantrowitz and University of Florida's Andrew Selepak, join 'Power Lunch' to discuss the lawsuits against the various social media apps.

Persons: Alex Kantrowitz, Julia Boorstin, Big, University of Florida's Andrew Selepak Organizations: University of Florida's

☆ New student loan repayment plan could make it easier for borrowers to become homeowners
▼ + stars: | 2024-02-13 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Row of townhouses in Alexandria, Virginia Grace Cary | Moment | Getty ImagesA new, more affordable repayment plan for federal student loan borrowers may come with another advantage: It could make it easier to become a homeowner. Half of student loan borrowers — including 60% of millennial borrowers — who haven't yet purchased a home say their education debt is delaying them from doing so, according to a 2021 report by the National Association of Realtors. Previously, someone who made $40,000 a year would have a monthly student loan payment of around $151. watch nowIn the past, most mortgage lenders assumed that a borrower's monthly student loan payment was a certain percentage of their loan balance, even if the actual payment was lower, Kantrowitz said. There's one catch: Many mortgage lenders won't use a $0 monthly student loan payment in their underwriting process, which the SAVE plan could leave many borrowers with.

Persons: Alexandria , Virginia Grace Cary, Biden, Mark Kantrowitz, Christelle Bamona, Barmona, Kantrowitz, Bamona Organizations: Valuable Education, National Association of Realtors, Here's, Center for, SAVE, Finance, Lending Locations: Alexandria , Virginia

☆ Biden has forgiven $136 billion in student debt. More relief is on the way
▼ + stars: | 2024-02-12 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesIt's never been a better time to get rid of your student debt. Paul Morigi | Getty ImagesThe Biden administration has tried to reverse the trend of borrowers being excluded from the relief on technicalities. Some 790,000 public servants have gotten their debt erased as a result, amounting to more than $56 billion in relief. Total and Permanent Disability DischargeThe Biden administration has also forgiven the student debt of more than 510,000 disabled borrowers. Borrower defenseAnother 1.3 million borrowers have walked away from their debt over the past few years thanks to the Borrower Defense Loan Discharge.

Persons: Joe Biden, Andrew Caballero, Reynolds, Joe Biden's, James Clyburn, he's, George W, Bush, Paul Morigi, Biden, Kantrowitz Organizations: Air Force, Joint Base Andrews, AFP, Getty, Supreme, CNBC, U.S . Department of Education, Public, Consumer Financial, Studentaid.gov, of Education, Social Security Administration, Department of Veterans Affairs, Education Department Locations: Maryland

☆ These stocks could be the hardest hit if Treasury yields don't come down, says Piper Sandler
▼ + stars: | 2024-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

If higher Treasury yields persist, Piper Sandler believes certain stocks could see their earnings at risk. The yield on the 10-year Treasury rose as high as 4.16% on Monday after hitting a low around 3.8% last week. The 10-year Treasury was last hovering at the 4.09% level. The firm looked for stocks with a high correlation to the 10-year Treasury yield and downbeat earnings revisions, based on a proprietary EPS revisions ratio. Pharmaceutical stock Bristol-Myers Squibb has a comparatively lower correlation value of 0.188 to the 10-year yield.

Persons: Piper Sandler, Jerome Powell, Russell, Charles Schwab, Myers Squibb Organizations: Federal Reserve, Treasury, Piper, Bank of America, Bank, LSEG, East West Bancorp, West Bancorp, Oil, Pharmaceutical, Bristol, Myers Squibb, Redburn Locations: Bristol

☆ Amid rocky FAFSA rollout, Education Department looks to smooth the so-far bumpy debut — 'too little, too late,' expert says
▼ + stars: | 2024-02-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

The U.S. Department of Education announced Monday it is introducing a "FAFSA College Support Strategy" with additional personnel, funding, resources and technology to help colleges process the new Free Application for Federal Student Aid forms after the rollout was repeatedly complicated by a number of setbacks. "We are determined to get this right," U.S. Secretary of Education Miguel Cardona said in a statement. However, the consensus among college financial aid administrators seems to be that it is "too little, too late," said higher education expert Mark Kantrowitz. It will also offer a "concierge service" to answer questions from colleges about the new form and help schools drive FAFSA completion so students can get their aid packages in time. Last week, the Department of Education said colleges won't receive FAFSA applicant information until early March, instead of late January as initially estimated, potentially delaying financial aid award letters until April or later.

Persons: Education Miguel Cardona, Mark Kantrowitz, Biden Organizations: U.S . Department of Education, Federal, Education, Finance, Department of Education

☆ Kantrowitz: Amazon is really an AWS company now
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKantrowitz: Amazon is really an AWS company nowBig Technology founder Alex Kantrowitz discusses the big takeaways from earnings from Meta, Amazon and Apple.

Persons: Alex Kantrowitz Organizations: Big Technology, Meta, Apple

☆ Watch CNBC’s full interview with Fundstrat's Tom Lee, NewEdge's Cameron Dawson and Big Technology’s Alex Kantrowitz
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Fundstrat's Tom Lee, NewEdge's Cameron Dawson and Big Technology’s Alex KantrowitzFundstrat's Tom Lee, NewEdge Wealth’s Cameron Dawson and Big Technology’s Alex Kantrowitz, join 'Closing Bell' to discuss the Fed decision and market reaction.

Persons: Fundstrat's Tom Lee, NewEdge's Cameron Dawson, Big, Alex Kantrowitz Fundstrat's Tom Lee, NewEdge Wealth’s Cameron Dawson, Alex Kantrowitz

☆ FAFSA delays likely to slow college decisions. 'It's a real mess,' expert says. Here's what to do if your financial aid letter is late
▼ + stars: | 2024-02-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

For most students and their families, which college they will choose hinges on the amount of financial aid offered and the breakdown between grants, scholarships, work-study opportunities and student loans. This year, schools are now waiting on that FAFSA information to begin building financial aid packages and to give students and families enough time to weigh their options. "The delay in sending FAFSA data to colleges will cause college financial aid offers to be delayed until at least April, maybe even May." "Making an offer of admission without offering a full financial aid offer really isn't useful for most families," said Adam Miller, vice president for admission and financial aid at Whitman College in Walla Walla, Washington. To do this, Whitman and other colleges would need to leverage the information families provided in their completed CSS Profile.

Persons: Mark, Mark Kantrowitz, Adam Miller, Whitman, Miller, Rick Castellano, Sallie Mae, Castellano Organizations: National College, Whitman College, College Board, Decision Locations: Walla Walla , Washington

☆ A top Wall Street strategist shares the 3 Magnificent 7 stocks that are most likely to continue their outperformance in 2024 — and 2 loaded with 'red flags'
▼ + stars: | 2024-02-01 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Read previewJust seven stocks accounted for the lion's share of returns for the S&P 500 in 2023. Piper SandlerIn a January 23 note to clients, he said that only three of the seven stocks are well-positioned to keep rising, while two are in a more neutral position and another two are loaded with "red flags." When analyzing the seven stocks, he looked at fundamental traits that make them a strong buy, as well as downside risks to the companies. On fundamentals, Alphabet and Meta each scored a one and Apple came in right behind with a two. But the remaining two stocks in the group — Tesla (TSLA) and Nvidia (NVDA) had a ton of downside risks, he said.

Persons: —, Michael Kantrowitz, Piper Sandler, Kantrowitz, Meta's, Tesla Organizations: Service, Apple, Nvidia, Tesla, Microsoft, Meta, Business, Google, Facebook Locations: lockstep

☆ Recent tech layoffs isn't a moment where AI is replacing engineers: Big Technology's Alex Kantrowitz
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRecent tech layoffs isn't a moment where AI is replacing engineers: Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Squawk Box' to discuss the mounting tech layoffs, the impact of Ai on the job cuts, and more.

Persons: Big, Alex Kantrowitz Alex Kantrowitz, Ai Organizations: Big Technology

☆ Yields will end the year lower than where they are now, says Piper Sandler's Michael Kantrowitz
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYields will end the year lower than where they are now, says Piper Sandler's Michael KantrowitzMichael Kantrowitz, chief investment strategist at Piper Sandler, joins 'Squawk on the Street' to discuss how the strategist is parsing through the earnings results thus far, if there are still hopes for a bond rally, and more.

Persons: Piper Sandler's Michael Kantrowitz Michael Kantrowitz, Piper Sandler

☆ I quit Amazon Prime and it was way easier than I expected. It's made me reevaluate everything.
▼ + stars: | 2024-01-28 | by ( Alex Kantrowitz | Big Technology | ) www.businessinsider.com time to read: +3 min

Last June, on a whim, I canceled Amazon Prime. I still regularly buy things from Amazon with free shipping, but I'm happily out on Prime. After canceling Prime, I've been able to reevaluate the necessity of that ultra-fast, free shipping and have found it mostly unneeded. AdvertisementLeaving Prime also meant the end of free Amazon Prime Video, but I've been able to bear it. If Amazon Prime members started reconsidering and discarded the service en masse, it would be trouble for the company.

Persons: I'd, I'm, I've, Max Organizations: Amazon Prime, Amazon, Netflix, Big Technology Locations: America

☆ Despite Supreme Court ruling, Biden has forgiven student debt for millions. Is it enough for voters?
▼ + stars: | 2024-01-24 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden talks to reporters as he departs the White House on June 28, 2023 in Washington, DC. The Supreme Court's conservative majority in June ruled that President Joe Biden didn't have the authority to cancel student debt for millions of Americans. That alternative plan, which has become known as Biden's Plan B, could forgive student debt for as many as 10 million people, according to one estimate. "President Biden has done more to implement student loan forgiveness than any previous president," said higher education expert Mark Kantrowitz. A spokesperson for the White House did not respond to a request for comment.

Persons: Joe Biden, Joe Biden didn't, He's, Biden, cancelation, Mark Kantrowitz Organizations: House, Finance, U.S . Department of Education, White Locations: Washington ,

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