Predominantly nonwhite areas in more than 50 of 60 major US cities have below-prime median credit scores.
Tax reform is an opportunity to address wealth inequality, which has grown from both gains at the top and declines at the bottom.
Borrowers who become disabled can have their loans discharged, but they must pay income taxes associated with the amount forgiven.
Nearly one in three nonelderly black Americans have past-due medical bills—a concerning number given the consequences for physical and financial health.
Each year, roughly one in four American families will face an “income shock,” like losing a job or experiencing a sudden health or work limitation.
Lower rates of health insurance coverage and wealth accumulation are making it harder for younger generations to pay off past-due medical bills.
Spousal and survivor benefits are often worth hundreds of thousands of dollars for the non-working spouse, but worth far less if both spouses work.
In a new study, participants offered financial coaching had an average debt reduction of $10,644 more than those who were not offered services.
Coaching helps people across the income spectrum set goals and plan concrete steps to meet intermediate- and long-term financial goals.