President Makes It Easier to Repay Student Loans

Just as the Federal Reserve Bank of New York is raising concern about growing student loan debt and defaults, President Barack Obama is moving to expand a repayment program aimed at helping lower-income borrowers. The president today signed an executive order that the administration says will allow nearly 5 million more borrowers to qualify for a program that keeps monthly payments on federal loans to no more than 10 percent of discretionary income. This plan has been available only to more …

Work and Save: From Sea to Shining Sea

The problem with living in Washington, D.C., too long is that you start to forget all the exciting action happening outside this politics-crazed town. The truth is, the real action is taking place in state capitols around the country. Today I want to take a moment to highlight some of the victories and innovative solutions happening from Hartford to Olympia to help people save for the future and live independently as they age. I’m lucky enough to have worked for …

Take Charge of Your Future With ‘Work and Save’

We all dream of a comfortable retirement – time to relax, travel, learn a new language or take up a hobby. But in these tough economic times, that dream can sometimes feel a little out of reach, especially for those who work for small businesses – because most of them have no access to any type of retirement savings plan at work. In fact, 3 out of 5 households headed by someone 65 or older have no money in retirement savings accounts. …

6 Things to Watch in Congress

Members of Congress are back in Washington with an agenda full of items important to older Americans. Here’s a rundown: Debt ceiling and federal budget. Two deadlines loom here. The federal government will run out of borrowing authority if Congress doesn’t raise the debt ceiling by Feb. 7. Although Capitol Hill lawmakers negotiated a budget deal in December that set overall spending, they must pass a bill with more specifics by Jan. 15. Each time budget deadlines hit, some lawmakers …

States Step Up for Retirement Security

Are you saving (enough) for retirement? The numbers paint a worrisome picture – for Americans, our families and the nation. Three-quarters of Americans age 55-64 had less than $30,000 in their retirement accounts as of 2010. And, more than 70 million American workers do not have any type of employer-sponsored retirement plan. Clearly, we need some help to get on the road to retirement savings – and more effective ways to save money for our future. This is where the …

5 Reasons to Care About Medicaid Expansion

Nine states have passed Medicaid expansion this year, with another 15 on the brink of extending health coverage to more hard-working citizens. Why is Medicaid expansion, which would extend Medicaid health coverage to people who earn about $15,000 a year (138% of the federal poverty level), so important? Here are the top 5 reasons: 1. 50- to 64-year olds: Medicaid expansion will provide health care coverage to tens of thousands of hard-working Americans between the ages of 50 to 64. Many …