The latest on scams, fees, regrets, and why we shouldn’t blame millennials for everything
Here are some favorite personal finance reads from around the web this week.
Trump administration hid report revealing Wells Fargo charged high fees to students
–Politico
The Trump administration suppressed a report that revealed Wells Fargo charged college students higher banking fees than its competitors, leading to calls for an investigation into agreements between colleges and financial companies.
The top regrets of retirees
–The Washington Post
According to a Global Atlantic survey, 55% of retirees regret the choices they made about retirement planning. Among the top regrets: Relying too much on Social Security, not paying down debt, and not saving enough.
A teacher’s long road to student loan forgiveness (and a $4,500 surprise)
–The New York Times
It started out as a horror story about a teacher who had discovered his years of student loan payments did not qualify him for the Public Service Loan Forgiveness program. Finally, his tale gets a happy ending.
I got student loan scammed: How to not be like me
–The Billfold
Another nightmare scenario turned real: This high school teacher discovered she had been scammed out of all her student loan payments, which meant she hadn’t made any dent in her actual debt. Here’s what she learned.
Millennials didn’t kill the economy. The economy killed millennials.
–The Atlantic
We’ve all seen the headlines: Millennials are killing just about every industry imaginable. But a new Federal Reserve report disputes that claim, concluding that their spending preferences do not differ much from previous generations. So why aren’t they buying houses, cars, or everything else? Take a look.
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