SoFi Blog

The Fed made moves, big tech got slapped and the candidates bristled.

Another month is in the books, and the more things change the more they stay the same. Stock markets seemed to climb to new heights in July while pundits continued to discount the rally and call for the next recession. Even presidential candidates got in on the doomsday predictions this month.

Just like in June, market-moving news is coming from the Fed, geopolitical tensions, and major technology companies. As the summer winds down, sit back and catch up on some highlights from July.

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

Student loan forgiveness has become (finally!) a hot topic in our national conversation, but it looks like the complex system that services these loans to begin with is in very sad shape. (Yep, another broken cog in the bureaucracy wheel.)

In fact, the shape is so sad that it’s actually violating federal law and even the Constitution. It’s looking like before any progress can be made on student loan forgiveness, the system has to first be straightened out so it can fly right.

Hopefully, this fix can be hammered out with the help of our justice system. On July 11, 2019, the American Federation of Teachers filed a lawsuit in federal court asking the U.S. Department of Education to fix the Public Service Loan Forgiveness Program in order to meet legal standards.

A second request was included: have the department create an appeals process for those who feel they were treated unjustly.

No one plans to get divorced or separated. It’s not what a couple hopes for when they say their vows. And it’s definitely not what they envision when opening joint bank accounts, purchasing a car, getting a dog, or buying a house together.

But if a pair does end up divorcing, figuring out what will happen to joint assets like these can be confusing and painful—at a time that’s already an emotional rollercoaster.

Taking out a mortgage is the single biggest financial commitment that most married couples make. Collectively, Americans owe $9.1 trillion on their mortgages, which make up by far the largest share of consumer debt.

When you first got to college, becoming an RA may not have been on the top of your to-do list. You probably imagined yourself heading out to fun parties with your friends on a Saturday night, not doing rounds in the dorm.

Now that you’re a full-time college student, the idea of becoming a resident advisor seems slightly more appealing. Sure, you’d have to deal with some negatives, but the job does come with its perks. Before you jump into life as an RA, it’s a good idea to think through some of the benefits and downsides to determine if it’s the right decision for you. Here are a few common starting points.

Master’s degrees are more popular—and maybe more necessary—than ever. According to the U.S. Census Bureau , the number of people with a master’s has doubled since 2000 and, on average, a person with an advanced degree earned 3.7 times as much as a high school dropout.

Of course, whether you get a good return on your education and if it results in higher earnings depends on a lot of things: the type of program, the field of study, job prospects. Graduate school is a big time commitment and can be costly, so you want to weigh all the pros and cons. That’s also partially why online graduate degrees have become more popular.

If you’re wondering, ‘Can I get a master’s degree online?’ The answer is: yes, you can. Over 50% of master’s students got their degree either entirely online, also known as distance learning, or partially online.

Online classes can be an effective way to advance your education on your own schedule—and maybe save yourself some money. Graduate-level classes are no different.