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Here's what happens to your student loan debt when you die
  + stars: | 2024-07-30 | by ( Annie Nova | ) www.cnbc.com   time to read: +2 min
Artisteer | Istock | Getty ImagesIt's not unusual to hear people struggling with their student loan debt bemoan that they feel like they'll be paying until they die. It may be a question increasingly on people's minds, as the number of older student loan borrowers trends upward. Federal student loans die with youFortunately, no one will be responsible for your federal education debt when you're gone, said higher education expert Mark Kantrowitz. watch nowThose who've lost someone with student debt should ask the borrower's loan servicer what proof they'll need to discharge it, Mayotte said. With private student loans, responsibility is murkier
Persons: Betsy Mayotte, Mark Kantrowitz, Kantrowitz, who've Organizations: Istock, Getty, U.S . Department of Education, The, Student Loan Advisors Locations: Mayotte, Studentaid.gov
Nancy Breland, 72, Georgia Retired and taking care of her husband, Breland has seen rising prices for everything from groceries and utilities to insurance and home maintenance eat into her fixed income. She has also seen her friends struggle with inflation, as well, through the church she volunteers at. At 72, Breland has been doing much of the upkeep around her home after her husband fell ill several years ago. Fixed income is very hard when inflation is so high.”Primary source of income: Combined, Breland and her husband have around $7,600 in monthly income from their retirement accounts and pension and Social Security payments. While Social Security checks have increased relative to inflation, other sources of income for retirees, like pension payments and retirement savings accounts, haven’t necessarily kept up for many.
Persons: Nancy Breland, Breland, , , I’m, What’s, I’ve, it’s, ” What’s, “ I’m Organizations: NBC, Social, Social Security, Insurance, Facebook Locations: Georgia, landscapers, Brunswick , Georgia, Montana
Jain's hypothetical seemed prescient when a quality control issue from cybersecurity firm CrowdStrike caused a worldwide IT outage that halted flights and freight, shuttered retail outlets, and caused hospitals to resort to charting on paper. "Insurers have been worried about something like what happened with CrowdStrike since cloud adoption happened," said Dale Gonzales, chief innovation officer at Axio, a cyber security risk analysis company. Fitch estimates that the number of insured losses will not exceed $10 billion, ending somewhere in the mid- to high-single billions and that the industry largely priced those in. The cybersecurity insurance market did get lucky, in some respects, with the CrowdStrike meltdown. "Cyber events that have more of a physical consequence would be much bigger in size or scope in terms of losses," Glombicki said.
Persons: Warren Buffett, Ajit Jain, Jain, CrowdStrike, Dale Gonzales, Gerald Glombicki, Fitch, Glombicki Organizations: Microsoft Corp, Fitch Locations: New Delhi, India, Berkshire, Fitch Rating's, Australia, Pacific Asia, U.S
But it's possible to help your child build a solid credit profile without putting your own credit health on the line. Remember, if an authorized user account is added to your child's credit reports, it has the potential to boost or damage your child's credit scores. A student credit card or a secured credit card can potentially be a good fit for young people who want to establish credit on their own. Can my child build credit without a credit card? Yes, you can build credit for your child without a credit card by using other methods like student loans and certain types of utility payments.
Persons: you'll, it's, you've, they're, It's Organizations: Social, American, Self Locations: Equifax, Chevron
Amazon Prime Credit Card OverviewFormerly known as the Amazon Prime Rewards Visa Signature Card, the newly renamed Prime Visa is a great choice for anyone who spends a lot on Amazon, Whole Foods, or both. Prime Visa Annual Fee and APRAnnual FeeThe Prime Visa doesn't have an annual fee. Prime Visa Card ComparisonThe Prime Visa is a great card if you make most of your household purchases from Amazon and/or Whole Foods. Amazon Prime Credit Card Frequently Asked QuestionsWhat are the main benefits of the Amazon Prime Rewards Visa Card? Do I need an Amazon Prime membership to apply for the Amazon Prime Visa?
Persons: Cardholders, Chase, , you'll, Wells, it's Organizations: Business, Amazon, Foods, Chase Travel, Visa, Amazon.com, FDIC, Amazon Prime, Read, Emergency, Chase, Chase Travel ℠, Wells, American, American Express, Global, Amex Locations: U.S, Wells
IntroductionThe Chase Sapphire Reserve® and The Platinum Card® from American Express are two of the best premium travel rewards cards. Here's a guide to help you compare the The Platinum Card® from American Express and Chase Sapphire Reserve® and decide which card is best for you. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Winner: The Platinum Card® from American Express, if you use all of these benefitsConcierge servicesThe Platinum Card® from American Express offers its famous Amex Concierge service for Platinum cardholders. Amex Platinum vs. Chase Sapphire Reserve frequently asked questionsHow do the annual fees for the Amex Platinum and Sapphire Reserve compare?
Persons: Chase Travel ℠, Chase, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, You'll, cardholders, Sapphire, you'll, Cardholders, that's, they're Organizations: Chase, American Express, Chase Sapphire, Chase Travel, Sapphire, TSA, FDIC, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, Global, Saks Fifth, Delta Sky, airline, Amex, Resorts, Paramount, TSA PreCheck, Hertz President's, Chase Sapphire Reserve, Avis, Avis , National, Hertz, Hulu Locations: Hulu, U.S, Hong Kong, The, Avis ,
Here are the best mortgage lenders for first-time homebuyers and the affordable loans they offer, as chosen by Business Insider editors in 2024. If you're a Bank of America Preferred Rewards customer, you can get discountsCheck mark icon A check mark. Offers many unique types of mortgagesCheck mark icon A check mark. Low Cost Mortgages come with only $295 in closing costsCheck mark icon A check mark. Mortgage credit certificatesSome HFAs also offer mortgage credit certificates to first-time homebuyers.
Persons: It's, Chase, Grant, You'll, Carrington, Carrington doesn't, forbearance, HELOC, homebuyers, Truist, doesn't, Flagstar, they're, homeownership, Fannie Mae, Freddie Mac's, you'll, Anthony Park, Molly Grace, Julie Aragon, There's, Lauryn Williams, , there's, PenFed, USAA, Wells, Wells Fargo, Ally Organizations: Homebuyers Bank of America Mortgage, Mortgage, Chase, Federal Credit Union Mortgage, New, U.S, Bank Mortgage, Federal Savings, Loan, Truist, Flagstar Bank, Business, Bank of America, of America, FHA, Bank, Bank of, Bank of America's, Miami . Bank of America, USDA, Guild Mortgage, Veterans, Navy, Credit, Federal, Navy Federal, Navy Federal Credit Union, Department of Defense, Student Loan, . Bank, US Bank, U.S . Bank, Carrington Mortgage, Carrington Mortgage Services, Consumer Financial Protection, DC, Private Mortgage Insurance, PMI, Down Payments, Quicken, Rocket Mortgage, Rocket, CrossCountry Mortgage, CrossCountry, Loans, Flagstar Bank Mortgage, Federal Housing Finance Agency, Federal Housing Administration, US Department of Housing, Urban, US Department of Veterans Affairs, US Department of Agriculture, Best, Chevron, CFP, Pentagon Federal Credit Union, BBB, Fairway Independent Mortgage Corporation, Veterans United, Movement Mortgage, NBKC, PNC Bank, Better Business Bureau Locations: VA, HELOC, Washington, DC, Charlotte, Dallas, Detroit, Los Angeles, Miami, Delaware, Vermont, Delaware , Vermont, Wyoming, J.D, New York, ., U.S, Massachusetts, North Dakota, Ohio, Florida, California , Colorado , Connecticut, Georgia , Illinois , Indiana , Kentucky, Maryland , Massachusetts , Missouri , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oregon , Pennsylvania, South Carolina , Tennessee, Virginia, Tennessee, Arizona , Alaska, Hawaii, Arizona , California, Florida , Indiana , Michigan , New Jersey , New York , Ohio, Wisconsin, Flagstar, Arizona , California , Connecticut , Idaho , Michigan, Nevada , Ohio, New Mexico, Chevron, Wells Fargo
For close to a century, putting your savings into a federally insured bank has been a sure thing: If the institution fails, up to $250,000 of your money will be protected. The promise of bank insurance — a tenet of U.S. consumer protection since the Great Depression — is now being tested by a crisis swirling around online-only lenders with hundreds of millions of dollars of deposits between them. Most depositors have little clue where their money has gone, and whether they will get any of it back. It operated banking software for fast-growing online lenders with names like Juno, Yieldstreet and Yotta. Their slick websites advertise insurance from the Federal Deposit Insurance Corporation, the U.S. agency that pledges to pay back lost funds.
Persons: you’ve Organizations: Synapse Technology, Federal Deposit Insurance Corporation, U.S . Locations: U.S
For some car owners, it might be more financially savvy to rent a vehicle for a road trip than use their own, experts said. Drivers would need to compare total rental costs — the daily rental rate and potential add-ons like insurance — versus those of operating their own car. "Most people will be shocked at what it actually costs to own and operate their car," Brannon said. The cost of rental car insurance might add $30 to $61 to the daily rate, depending on insurance type, according to Allianz Travel, citing MarketWatch data. Car owners may already get full coverage on a rental via their own car insurance policies, or may have some coverage through credit-card benefits, Brannon said.
Persons: Patchareeporn, Greg Brannon, Brian Moody, Autotrader, Moody, Brannon, Hopper, Alistair Berg, Digitalvision, Kelley, KBB, Autotrader's Moody Organizations: AAA, Toyota, Allianz Travel, Finance, Car, Getty, Allianz, State
British Prime Minister Rishi Sunak attends a Conservative party rally, after he called for a general election, in London, Britain, May 22, 2024. LONDON — British Prime Minister Rishi Sunak released his Conservative Party's official election manifesto on Tuesday, announcing help for first-time home buyers and promising more tax cuts. The pledges come as the Conservatives look set for a drubbing to the rival Labour party at the July 4 General Election, while Sunak has personally come under fire several times during the campaign. Sunak and Labour leader Keir Starmer are both forefronting economic growth, the cost of living and taxes in their campaign messaging. Polls have for some time been pointing toward a Labour victory in a General Election after the Conservatives' ratings tanked following a series of scandals under former Prime Minister Boris Johnson's tenure.
Persons: Rishi Sunak, Sunak, Insurance —, Keir Starmer, Boris Johnson's Organizations: British, Conservative, LONDON, Labour, Insurance, Conservatives Locations: London, Britain, France
When is the next stock market crash taking place? It's a question I get asked often since I wrote "A History of the United States in Five Crashes – Stock Market Meldowns That Defined a Nation." Until now, I've always been able to counsel that stock market crashes are comfortingly rare events that only occur when elements align, and that a crash is unlikely in the near future. The first is a frothy stock market. It is no accident that the first modern stock market crash, the Panic of 1907, occurred after the biggest two-year rally in the history of the Dow Jones Industrial Average .
Persons: I've, It's, it's Organizations: Dow Jones, Federal Reserve, San Locations: United States, San Francisco
CNN —Lydia Wu had never driven an electric vehicle before she rented a car from Avis last February. Rental car companies may have overestimated their customers’ readiness for a switch, though. In my case, I’ve rented EVs from Turo, a peer-to-peer car rental platform that’s sort of like Airbnb but for cars. Customer service as keyJoulez, an EV rental company, rents its fleet through its own website as well as through Turo. But not everyone has such a bad time when renting an EV from a big rental car company.
Persons: Lydia Wu, Wu, EVs, Hertz, Stephen Scherr, it’s, ” Hertz, Doug Jensen, Tesla, , , ” Wu, I’ve, Micah Bergdale, they’re, Joulez, Jay Waldron, Waldron, Kia Organizations: CNN, Avis, Cox Automotive, Tesla, General Motors, Hertz, Kia, EV, Turo, Hyundai Kona EV, National Locations: Kansas City , Kansas, Hertz, San Diego, it’s, Polestar, New York City, , Turo, Georgia, Washington, DC
But some markets are still very affordable relative to national median cost levels. A recent SmartAsset analysis reveals 19 cities with median monthly mortgage costs under $1,200. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Business
U.K. Prime Minister Rishi Sunak (left), leader of the incumbent Conservatives, and opposition leader Sir Keir Starmer of the Labour Party. The politicians traded barbs in their first head-to-head debate on Tuesday ahead of the July 4 General Election. "I'm clear that I'm going to keep cutting people's taxes as we now are ... Mark my words, Labour will raise your taxes, it's in their DNA. You name it, Labour will tax it," Sunak said. Labour leader Keir Starmer said the £2,000 calculation was "based on made-up Labour policies."
Persons: Rishi Sunak, Sir Keir Starmer, Sunak, Keir Starmer, Starmer, Liz Truss, Julie Etchingham Organizations: Conservatives, Labour Party, Conservative Party, Labour, Conservative, ITV News
Read previewA luxury gym chain is launching a program costing $40,000 a year that it says will help clients to boost their longevity. But experts told Business Insider you don't need to spend thousands of dollars to enjoy a long, healthy life. The program, which will later be available in other states, aims to help customers "live 100 healthy years," Jonathan Swerdlin, co-founder of Function Health, told CNBC. Research suggests that weight, or strength, training is beneficial for longevity because it builds muscle mass, which helps maintain strength and mobility into older age. One 2022 study found that those who did 30 minutes of strength training a week were 10% to 20% less likely to die from chronic illnesses, such as heart disease, diabetes, and cancer.
Persons: , Jonathan Swerdlin, Maveron, Dan Belsky, Robert N Butler, Michael Snyder, Snyder, Belsky, Virend Somers Organizations: Service, Function, CNBC, Business, Consulting, of Labor, Robert N Butler Columbia Aging Center, Center for Genomics, Medicine, Stanford University, Research, Mayo Clinic Locations: New York City, Highland Park , Texas
Some white-collar parents are leaving their jobs to take family gap years. It's sticking around as the world somewhat normalizes; Reddit is littered with threads looking for family gap year advice, which posters can easily find in various blogs. She now offers a family gap year and extended travel planning service for $80 to $100 an hour. "It could expand into a big business," she said, adding that her family gap year clients typically have disposable income and kids around 8 to 11 years old. AdvertisementWorld lessons, no classroom requiredNo family gap year is complete without immersive travel.
Persons: , Claire Williams, Matt, they'd, Claire, It's, Jennifer Spatz, itineraries, Amy Chang, Chang, Allen, they've, Spatz, Marisa Vitale, it's, She's, hadn't, what's Organizations: Service, Area, Federal, Global, United Nations Sustainable Locations: Sri Lanka, Sahara, worldschooling, COVID, Massachusetts, Asia, Europe, Venice, Italy, Airbnbs, Greece, Nepal, Sydney, Australia, Santiago, Chile, Spanish, Guatemala, Vietnam, Argentine, Jordan, Patagonia, Los Angeles, California, Salt Lake City, U.S
Now you can put your Botox on Affirm
  + stars: | 2024-04-24 | by ( Katie Notopoulos | ) www.businessinsider.com   time to read: +3 min
Buy now, pay later company Affirm is starting to offer loans for elective cosmetic procedures. Advertisement"Buy now, pay later" company Affirm has identified a new category for growth, according to a new report from Reuters: elective medical procedures like Botox, nose jobs, and even dental treatments. Buy now, pay later options like Klarna and Affirm have become ubiquitous at checkouts on e-commerce retail sites for some time. I know: It can be hard to sympathize with someone who's using lip filler they can't afford by putting it on Affirm. But go back to what it's actually being used for: "cosmetic treatments, dental services, medical devices, and veterinary procedures."
Persons: It's, , Klarna, Pat Suh, Affirm's, BNPL, it's Organizations: Service, Business Locations: San Francisco
A 7-acre private island off Florida's coast is on sale for $50 million. AdvertisementIf owning a private island is a personal dream for you, you're in luck — a 7-acre private island located just 3 miles off the coast of Florida just hit the market and could be all yours for $50 million. Jon Kohler & AssociatesFrom the dock on the mainland, the Panama City Beach International Airport is an hour-and-twenty-minute drive away. Jon Kohler & AssociatesJon Kohler & AssociatesIn this scenario, Weldon said the setup would be similar to a condo homeowners' association. Jon Kohler & AssociatesThe bungalows, which were first built in 2009, were remodeled when Seymour bought the island in 2018.
Persons: , Saint Joseph Bay, Joe, Samuel, Black Sam, Bellamy, Jon Kohler, Lori Bembry Weldon, Weldon, Scott Seymour, Associates Jon Kohler, Seymour Organizations: Service, Associates, Panama City Beach, Jon Kohler & Associates, Business Locations: Florida, Saint Joseph, Port St, Florida's, Black's, Panama, Atlanta
The stubbornly high inflation readings to start 2024 are good news for one group of stocks — insurance companies. Stocks to watch In general, Wall Street analysts are buying the underlying story for these insurance stocks. For a slightly different angle, Wells Fargo analyst Elyse Greenspan upgraded Hamilton Insurance Group to overweight last week. Potential downsides To be sure, there are several factors that could derail the rally for insurance stocks. Another concern is so-called "social inflation," in which legal trends or regulatory changes can drive costs higher for insurance companies.
Persons: Goldman, Robert Cox, Stocks, Goldman's Cox, Cox, Wells, Elyse Greenspan, Hamilton, HG, Greenspan, Jimmy Bhullar, Andrew McGee, McGee, — CNBC's Michael Bloom Organizations: Bureau of Labor Statistics, Allstate, Wall Street, PGR, Progressive, Hartford Financial Services, Hamilton Insurance Group, U.S . Insurance, JPMorgan, CNBC Locations: Northbrook , Illinois, Wells Fargo
This week, a reader's car was damaged when their friend drove it with the parking brake engaged. When he finally finished, my best friend did me a huge favor by driving from Portland to Seattle to bring me my car. While these feelings are perfectly natural, allowing them to ruin your relationship with your best friend would be unfair to you both. Knowing that your best friend "can barely afford rent" and still expecting her to repay you for the car parts is the wrong choice. But even if it isn't, I hope you don't lose your best friend over a single space-out.
Persons: I've, I'd, doesn't Organizations: VW Locations: Seattle, Portland , Oregon, Portland
If you choose to forgo life insurance, it might still make sense to include an unmarried partner in a will. Compare life insurance rates online with Ethos Life. If so, then you may need life insurance. Term life insurance is a better choice for most individuals since they don't need coverage for their entire lives. Get Life Insurance Quotes Compare the best life insurance companies with a quote from Ethos Life.
Persons: , Justin Pritchard, doesn't, Pritchard, Jay Zigmont Organizations: Service, CFP, Childfree
RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.
Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, , it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .
Dr. Mikhail Varshavski is known as Dr. Mike on social media. “Zoom out of just thinking about, ‘What I can take or what I can eat?’ and understand that there’s a lot of other things that impact your weight,” Dr. Mike said. “(Make) sure that you get help when it comes to mental health issues and concerns,” Dr. Mike said. For example, Dr. Mike said he recently had a guest on his podcast who tried to equate a chocolate kiss to a grape. While you may compare them based on their sugar content, that’s one way to categorize them,” Dr. Mike said.
Persons: Sanjay Gupta, what’s, Mikhail Varshavski, Mike, , Ponce de León, we’re, ” Dr, Dr, , ” “, edu ”, , That’s, “ It’s, You’re, Skip, you’re, Jennifer Lai Organizations: CNN, Facebook, YouTube, TED, Inc, US Centers for Disease Control, Harvard Medical Locations: Chatham , New Jersey, Ponce, “ .
"The amount of personal and car information that car companies collect, share and sometimes sell is beyond what is necessary to get someone from Point A to Point B safely. But there are growing privacy concerns as reports proliferate about car companies sharing driver data with insurers, and as car companies get into the insurance business themselves. To be sure, there can be valid reasons to collect driver and car data for safety and functionality purposes, and some essential services, such as emergency and security-related data sharing, may be difficult or impossible to opt out of. Ford, for example, said it provides customers with a choice regarding any sharing of connected vehicle data. The government is looking at car privacy regulationsThere are various regulatory efforts afoot to understand carmakers' data-sharing practices and reign in potential privacy violations.
Persons: Jen Caltrider, There's, That's, James Hodgson, Parv Sharma, Caltrider, Cobun Zweifel, Mo Al, Keegan, Edward J, Markey, Eric Goldman, Hodgson, It's Organizations: Mozilla Foundation, Mozilla, ABI Research, McKinsey, Counterpoint Technology Market Research, Ford, Hyundai, Nissan, BMW, Keegan, International Association of Privacy, SBD Automotive, Protection Agency, Federal Trade Commission, Zweifel, Senate Commerce, Science, Transportation, Santa Clara University School of Law, Apple Locations: U.S, California , Colorado, Connecticut, California
It's easy to see pet insurance as optional for most pets, but the cost of pet care can be high. Most pet insurance plans cover the big costsMany people also believe that pet insurance doesn't cover that much. There are two types of pet insurance — illness and accident insurance and accident-only insurance. Make sure the math works in your favorLike with human health insurance, pet insurance has a monthly premium you'll need to pay to maintain coverage. Looking to the futureWhile it's not always pleasant, thinking through all the scenarios can help you pick the best pet insurance policy for you.
Persons: , there's, It's, it's Organizations: Service, American Kennel Club, American Pet Health Insurance Association Locations: American
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