The Sum is your friendly guide to personal finance and economic news.
We’re a team of McClatchy journalists cutting through the financial jargon so you know how these issues impact your life. We verify information from diverse sources and keep the facts front-and-center, making finance and economic news add up for you.
How much will you pay? That depends. You can use the loan simulator through the Office of Federal Student Aid to calculate your student loan payments and pick the option that works best for you. Here are a few SAVE examples. If you make $30,000, your estimated monthly payment is $0. If you make $60,000 and it’s just you, you could pay $227. With four people in your family, you could pay $0. What questions do you have about student loan payments restarting? #TheSumNews#StudentLoans#StudentDebt#SAVEPlan#StudentLoanPayments
Before signing up, you can use the Office of Federal Student Aid’s loan calculator at studentaid.gov/loan-simulator/. That tool can show you how to lower your payment, how to pay off your loans faster or decide whether to consolidate. “This testing period will allow the Department to monitor site performance through real-world use, test the site ahead of the official application launch, refine processes, and uncover any possible bugs prior to official launch,” a department spokesperson told Business Insider. The new plan was introduced after the Supreme Court shot down President Joe Biden’s student debt forgiveness plan. #TheSumNews#StudentLoans#StudentDebt#EducationDepartment#FederalStudentAid#SAVEPlan#Biden
When could we see a decision? It could be as soon as Tuesday, June 27, though Forbes reported the court could extend its term, which wraps up in June. Even if it’s upheld, we don’t know when it would officially start back up and when people could see their loans forgiven. Currently, student loan payments will be due starting in October, according to the Education Department. Interest starts accruing again on Sept. 1. #TheSumNews#StudentLoans#StudentDebt#StudentLoanForgiveness#SupremeCourt
Where you get married makes an impact on your wedding costs too. These states (plus D.C.) are the top 10 most expensive average weddings. Washington, DC: $45,400 New Jersey: $44,219 New York: $43,863 Massachusetts: $40,097 Illinois: $36,844 West Virginia: $33,333 Pennsylvania: $32,562 California: $32,369 Connecticut: $31,350 Louisiana: $31,100 #TheSumNews#Wedding#WeddingBudgeting#WeddingCosts
