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The Inside Scoop on the Biden Federal Student Loan Forgiveness Plan From the Fed

By Jacob Goss, Daniel Mangrum, and Joelle Scally – Federal Reserve Bank of New York On August 24, 2022, the White House released a plan to cancel federal student loans for most borrowers. In April,  we wrote about the costs and who most benefits from a few hypothetical loan forgiveness proposals using our Consumer Credit Panel, based on Equifax credit …

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5 Tips for Managing Payroll Effectively

How you manage your payroll process can reflect your business’s effectiveness and employees’ satisfaction. You might be in a situation where your business snowballs and you find it hard to keep your payroll operations running smoothly, or you have just started with a new business and want to get this task right from the very …

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A Peak Into 2022 Student Loan Data is Not Promising Given Pandemic Relief Tweaks

By Daniel Mangrum, Joelle Scally, and Crystal Wang Today, researchers from the Center for Microeconomic Data released the 2022 Student Loan Update, which contains statistics summarizing who holds student loans along with characteristics of these balances. To compute these statistics, we use the New York Fed Consumer Credit Panel (CCP), a nationally representative 5 percent …

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Things To Know Before You Get Sucked Into A Multilevel Marketing Program

Did you know that only 25% of multilevel marketing program participants turn a profit, and 50% of participants quit after the first year? Multilevel marketing programs aren’t always the best idea, and you could end up spending more money than you earn through an MLM. Sometimes, MLMs are hard to spot, so people can quickly …

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The Rising Cost of Automotive Insurance and What You Can Do About It

Owning a vehicle is getting more expensive. Apart from the actual car payments, rising fuel costs, and toll fees, you also have to pay for insurance coverage. In most states, minimum third-party liability coverage is required by law. But according to USAA auto insurance reviews, most car owners also opt for more comprehensive insurance coverage …

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How Much Do You Know About the First Global Credit Crisis?

June 2022 marks the 250th anniversary of the outbreak of the 1772-3 credit crisis. Although not widely known today, this was arguably the first “modern” global financial crisis in terms of the role that private-sector credit and financial products played in it, in the paths of financial contagion that propagated the initial shock, and in …

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Do You Need to Get a Blow Jar for Spontaneous Fun?

Since most people don’t grow up with a complete understanding of how to manage their money, concepts like budgeting and personal finance can seem restrictive because they are. Listen to the Podcast You can subscribe to my podcast on any of these sites below.                      A concept that’s not commonly addressed is irregular income. …

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