Tag:  Personal finance

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Business

Free FICO credit scores coming to millions

Millions of Americans will soon be able to access their FICO credit scores for free. FICO scores are used by nearly every major lender to assess the creditworthiness of credit card and loan applicants. But these scores are mostly invisible to consumers, unless you go to FICO’s website and sign up for a subscription of $14.95 per month—a service you need to cancel within 10 days if you don’t want to be charged anything. That’s going to change, however.

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Generation Y

‘I graduated with thousands of dollars left over’

Allie Nizam took an extra $10,000 with her when she graduated from University of Central Florida in 2009. (Photo Courtesy Allie Nizam) by Blake Ellis NEW YORK (CNNMoney) — While millions of Americans are drowning in student loan debt, some students are actually graduating with thousands of extra dollars to burn — thanks to scholarships and aid that exceeded their college costs.

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Generation Y

Coping with student loan repayments

CHARLENE CROWELL (NNPA)–A new report from the Consumer Financial Protection Bureau found that many of the same types of loan servicing problems that affected consumers in the mortgage market are now affecting student loan borrowers. Just as troubled homeowners were often unable to pay their mortgages, refinance their loans, or receive timely assistance from loan servicers, many student loan borrowers are now experiencing many of the same difficulties. Although the report focuses on private student loans, some of the servicing problems identified also affect federal student loan borrows.

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National

Detroit manager defends actions before bankruptcy

In this March 14, 2013 file photo, emergency manager Kevyn Orr listens to a question during a news conference in Detroit. Gov. Rick Snyder announced that he had chosen Orr as Detroit’s emergency manager. (AP Photo/Paul Sancya) by Ed WhiteAssociated Press Writer DETROIT (AP) — Detroit’s emergency manager faced tough cross-examination Tuesday from lawyers for unions and retirees as he defended his decision to take the city into bankruptcy without first striking a deal to prevent pension cuts. It was Kevyn Orr’s third day on the witness stand during a trial to determine if Detroit’s bankruptcy case can go forward. The city must show it was broke and tried to negotiate with creditors in good faith before filing for Chapter 9 protection in July.

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Lifestyle

Poll: Half of older workers delay retirement plans

Graphic designer Tom Sadowski, 65, who delayed his retirement, works from home in Sterling, Va. (AP Photo/Manuel Balce Ceneta) by Matt SedenskyAssociated Press Writer CHICAGO (AP) — Stung by a recession that sapped investments and home values, but expressing widespread job satisfaction, older Americans appear to have accepted the reality of a retirement that comes later in life and no longer represents a complete exit from the workforce. Some 82 percent of working Americans over 50 say it is at least somewhat likely they will work for pay in retirement, according to a poll released Monday by the Associated Press-NORC Center for Public Affairs Research.

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National

Obama to public: Don’t give up on health sign-ups

In this photo taken Friday, Oct. 4, 2013, President Barack Obama speaks during an exclusive interview with The Associated Press in the White House library in Washington. (AP Photo/Charles Dharapak) by Julie PaceAP White House Correspondent WASHINGTON (AP) — Defending the shaky rollout of his health care law, President Barack Obama said frustrated Americans “definitely shouldn’t give up” on the problem-plagued program now at the heart of his dispute with Republicans over reopening the federal government.