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Fannie, Freddie portfolios surge to multiyear high


Fannie Mae and Freddie Mac’s total retained portfolios hit a new multiyear high last month, and March’s numbers could be even higher amid reports they may have stepped up MBS buying to counter market disruption.

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Fannie held $150 billion in its portfolio in February, including nearly $77 billion of its own MBS, $63 billion in mortgage loans, $10 billion in other agency bonds, and $102 million in nonagency securities. It had $142 billion in its portfolio the previous month and $93 billion a year ago. 

Freddie recorded a total portfolio size of $139 billion in February, including $82 billion in mortgage loans, $56 billion in agency MBS, and $886 million in nonagency bonds.

With Fannie’s portfolio $8 billion larger and Freddie’s up $2 billion from January collectively the two increased their loans and bond holdings by around $10 billion in the month after the Trump administration announced plans to have the enterprises buy $200 billion in MBS over time.

“GSE net MBS purchases amounted to $11 billion in February compared with $15 billion in January. This is a little below the $15 billion-$20 billion pace we expected,” Michael Khankin and Pratham Saxena, who are researchers at Barclays, wrote in a report published Friday.

MBS buying does not necessarily equate to what the enterprises hold in their portfolios but tends to factor into it. It also is generally offset by some sales.

The MBS purchases do appear to be lending some stability to a tough market.

“Traders at Fannie and Freddie appear to be jumping into a market characterized as volatile in order to help stabilize prices and investor concerns,” said Michelle Parkison, senior vice president of capital markets, AD Mortgage, in a press statement

However, the MBS buying hasn’t been a cure-all for volatility, with 52% of futures traders reportedly predicting a Federal Reserve rate hike on Friday given concerns about war-driven inflation.

“It’s definitely been up and down,” Parkison said in an interview, when asked about the market’s effect on mortgage rate activity. “It makes hedging more difficult. You put your rate sheet out at a certain price and you have to hedge that position throughout the day.”

Khankin and Saxena said while the total amount of the planned MBS purchases is relatively large, anticipation of them ending after they hit the limit under the enterprises’ Preferred-Stock Purchase Agreements has begun to be a concern.

“Absent an increase in PSPA caps the market will need to price in the eventual GSE exit sometime this summer. That’s likely to be the defining driver of MBS performance for the remainder of 2026,” they said.



Springsteen headlines Minnesota ‘No Kings’ rally as protesters march across U.S. and Europe



Large crowds protested Saturday against the war in Iran and President Donald Trump’s actions in “No Kings” rallies across the U.S. and in Europe. Minnesota took center stage, with thousands of people standing shoulder-to-shoulder to celebrate resistance to Trump’s aggressive immigration enforcement.

Minnesota’s flagship event on the Capitol lawn in St. Paul drew Bruce Springsteen as its headliner. He and other speakers praised the state’s people for taking to the streets over the winter in opposition to a surge of U.S. Customs and Immigration Enforcement agents.

Springsteen performed “Streets of Minneapolis,” the song he wrote in response to the fatal shootings of Renee Good and Alex Pretti by federal agents. Springsteen lamented Good and Pretti’s deaths but said the state’s pushback against ICE has given the rest of the country hope.

“Your strength and your commitment told us that this was still America,” he said. “And this reactionary nightmare, and these invasions of American cities, will not stand.”

People rallied from New York City, with almost 8.5 million residents in a solidly blue state, to Driggs, a town of fewer than 2,000 people in eastern Idaho, a state Trump carried with 66% of the vote in 2024.

Biggest crowds yet expected

U.S. organizers have estimated that the first two rounds of No Kings rallies drew more than 5 million people in June and 7 million in October.This week they told reporters they expected 9 million participants Saturday, though it was too early to tell whether those expectations were met.

Organizers said more than 3,100 events — 500 more than in October — were registered, in all 50 states.

In Topeka, Kansas, a rally outside the Statehouse had people impersonating a frog king and Trump as a baby. Wendy Wyatt drove with “Cats Against Trump” sign from Lawrence, 20 miles (32 kilometers) to the east, and planned to drive back to her hometown for a later rally there.

Wyatt said “there are so many things” about the Trump administration that upset her, but “this is very hopeful to me.”

GOP officials dismissive of protests

White House spokesperson Abigail Jackson characterized them as the product of “leftist funding networks” with little real public support.

The “only people who care about these Trump Derangement Therapy Sessions are the reporters who are paid to cover them,” Jackson said in a statement.

The National Republican Congressional Committee was also sharply critical.

“These Hate America Rallies are where the far-left’s most violent, deranged fantasies get a microphone,” NRCC spokesperson Maureen O’Toole said.

Protesters have a long list of causes

Trump’s immigration enforcement push, particularly in Minnesota, was just one item on a long list of protester grievances that also included the war in Iran and the rollback of transgender rights. Speakers at the Minnesota rally decried billionaires’ economic power.

In Washington, hundreds marched past the Lincoln Memorial and into the National Mall, holding signs that read “Put down the crown, clown” and “Regime change begins at home.” Demonstrators rang bells, played drums and chanted “No kings.”

Bill Jarcho was there from Seattle, joined by six people dressed as insects wearing tactical vests that said, “LICE” — spoofing ICE, as part of what he called a “mock and awe” tour.

“What we provide is mockery to the king,” Jarcho said. “It’s about taking authoritarianism and making fun of it, which they hate.”

About 40,000 people marched in San Diego, police there said.

In New York, Donna Lieberman, executive director of the New York Civil Liberties Union, said during a news conference that Trump and his supporters want people to be afraid to protest.

“They want us to be afraid that there’s nothing we can do to stop them,” she said. “But you know what? They are wrong — dead wrong.”

Organizers said two-thirds of RSVPs for the rallies came from outside of major urban centers. That included communities in conservative-leaning states like Idaho, Wyoming, Montana, Utah, South Dakota and Louisiana, as well in electorally competitive suburbs in Pennsylvania, Georgia and Arizona.

Main event at the Minnesota Capitol

Organizers designated the rally there as the national flagship event.

Before Springsteen took the stage, organizers played a video in which actor Robert DeNiro said he wakes up every morning depressed because of Trump but was happier Saturday because millions of people were protesting. He also congratulated Minnesotans for running ICE out of town.

The bill also included singer Joan Baez, actor Jane Fonda, Vermont U.S. Sen. Bernie Sanders and a long list of activists, labor leaders and elected officials.

Protesters held up a massive sign on the Capitol steps that read, “We had whistles, they had guns. The revolution starts in Minneapolis.”

“Donald Trump may pretend that he’s not listening, but he can’t ignore the millions in the streets today,” said Randi Weingarten, president of the American Federation of Teachers.

Rallies outside the US

Demonstrations were also planned in more than a dozen other countries, from Europe to Latin America to Australia, Ezra Levin, a co-executive director of Indivisible, a group spearheading the events, said in an interview. In countries with constitutional monarchies, people call the protests “No Tyrants,” he said.

In Rome, thousands marched with defiant chants aimed at Premier Giorgia Meloni, whose conservative government saw its referendum for streamlining Italy’s judiciary fail badly this week amid criticism that it was a threat to the courts’ independence. Protesters also waved banners protesting Israeli and US attacks on Iran, calling for “A world free from wars.”

In London, people protesting the war held banners with slogans such as “Stop the far right” and “Stand up to Racism.”

And in Paris, several hundred people, mostly Americans living in France, along with labor unions and human rights organizations, gathered at the Bastille.

“I protest all of Trump’s illegal, immoral, reckless, and feckless, endless wars,” rally organizer Ada Shen said.

NYC is Handing Out Money to Homeowners Who Want to Build ADUs


It’s not often that a local municipality offers to chip in hundreds of thousands of dollars to help you generate rental income.

That’s what’s happening in New York City, where every day homeowners have the opportunity to become small-scale landlords by receiving up to $395,000 from the city to add a backyard cottage, basement apartment, attic conversion, or similar accessory/ancillary dwelling unit (ADU). 

NYC’s $395,000 ADU Offer: What It Really Means For Landlords

Known as the Plus One ADU Program, up to $395,000 is available to each qualifying owner-occupant who wishes to install an ADU on their property, through a mix of grants and forgivable loans.

A city test run in 2023-2024 resulted in more than 1,300 submissions within two weeks before applications closed. The relaunched fund is now capitalized and accepting applications from one-to-four-family homeowners who live on-site, are current on their mortgages and taxes, and have no open building code violations or properties in FEMA flood zones.

Mayor Mamdani said in a statement:

“One of the solutions to the housing crisis can be found in our backyards, our attics, or our basements—in an Ancillary Dwelling Unit. That’s why our administration is making it easier and more affordable to build an ADU through a library of preapproved plans and new financing options. By making it easier for New Yorkers to turn their homes into an extra place for a loved one or a little more income, we’re allowing our city to grow while keeping the character of the neighborhoods we love.”

According to the city’s ADU for You website, the funds can be used for construction and technical assistance related to design, permitting, and financing. Easing the process is the Pre-Approved Plan Library, which offers a selection of designs that have already passed an initial Department of Buildings code compliance review. The list includes 11 ADUs ranging from a 280-square-foot studio to a 785-square-foot two-bedroom residence.

ADUs as a Countrywide Wealth-Building Tool

New York is not the only place that views ADUs as a fix for the housing crisis. State and local governments across the country have been changing zoning rules and offering incentives for ADUs to increase housing supply while also allowing homeowners to generate rental income. 

The New York Times reported:

  • Fairfax County, Virginia, relaxed its ADU rules as part of a 2021 zoning overhaul.
  • In Seattle, relaxing ADU regulations in 2019 allowed two ADUs per lot, removed owner-occupancy and parking mandates, and spaced the rise of three-unit “ADU compounds,” increasing density in a cost-effective way.

ADU regulations in other states include:

  • California: Cities are required to allow ADUs in most residential zones, with 60-day approval windows and no owner-occupancy mandates for most units. In addition, there are limited impact fees for units under 750 square feet, with reduced marking mandates near transit.
  • Oregon: State law allows at least one ADU on most urban single-family lots; Portland’s code allows up to two ADUs and commonly three-unit set-ups per lot with defined height/size caps and no owner-occupancy requirements.
  • Washington: Recent laws require cities to permit attached and detached ADUs, limit parking and impact fees, and largely eliminate owner-occupancy requirements.
  • Maine: ADUs on single-family lots should have a minimum size of around 190 square feet. More than one ADU, or a multifamily ADU, is permitted, with no additional parking requirements beyond those for the primary home.
  • Maryland: The 2025 Small Houses Act forces covered counties and Baltimore City to legalize ADUs on single-family lots by late 2026, capping them at 75% of the main home’s size and preventing HOAs and cities from imposing blanket bans.
  • Colorado: Many metro jurisdictions must allow at least one ADU on detached single-unit lots, with local codes setting size, height, and design details, with no outright prohibitions in those areas.
  • Massachusetts and Connecticut: Both states have laws encouraging or requiring local ADU ordinances, but each city or town sets its own rules on size limits, unit counts, and owner-occupancy mandates.

ADUs and Short-Term Rentals

Although most ADU programs are geared toward family housing or long-term rentals, rules for short-term rentals vary widely from one state or city to another, meaning that homeowners and landlords could both benefit from hosting guests in their ADU if their location allows it.

Some jurisdictions are revisiting short-term rental rules. In Washington, D.C., Mayor Muriel Bowser recently introduced the Short-Term Rental Regulation Amendment Act of 2026, which would allow tenants to operate short-term rentals at their primary residence if the unit is not rent-stabilized and the lease does not prohibit hosting.

For landlords, it could provide a way for responsible long-term tenants to bring in extra income. However, from an outside perspective, it also seems fraught with problems, especially the “special event” license, which would allow tenants to rent out their units during major events without being present.

Should the amendment act pass, an analysis by AirROI, a data and policy site focused on STRs, estimates that more than 112,000 renter households in D.C. could theoretically be eligible to host if the bill passes. The number will depend heavily on landlord policies and lease terms.

The only way for landlords to benefit from this would be to include a profit-sharing component in the lease with their primary tenant, with STR payments going through the landlord. On the face of it, it seems highly problematic.

Final Thoughts

New York City has made headlines for offering a substantial incentive to homeowners to build ADUs. However, many other states have been on board the ADU bandwagon for quite some time, allowing them to be built alongside rental properties, too, which is clearly a huge benefit for landlords.

However, even in cities and states that allow ADUs only on owner-occupied homes, it is a great way for would-be landlords to start their investment journey. If they purchase a four-unit property with an FHA loan and add an ADU, they would essentially have four units of rental income (the owner’s unit would be the fifth) to put down a 3.5% down payment. If those units are in New York City, they would also have up to an additional $395,000 to help them get started.

Save 33% When You Buy 1 Tide/Downy Detergent and 3 Fabric Enhancers


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This article contains Amazon affiliate links.

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Disclaimer: As an Amazon Associate I earn from qualifying purchases made through this article. Using links on the site for Amazon purchases is the best way you can support the site as you normally can’t earn cash back for these purchases. But, you should still check shopping portals such as Rakuten, TopCashback, RebatesMe, ShopBack and others for possible cashback. Your support is always greatly appreciated!

Kopin earnings beat, revenue fell short of estimates




Kopin earnings beat, revenue fell short of estimates

Dollar dominance is reinforced by the oil trade, but the Iran war could give rise to the ‘petroyuan’


Middle East oil has long been a linchpin of the U.S. dollar’s status as the dominant currency in global trade and reserves, but President Donald Trump’s war on Iran could open the door to China’s currency, according to Deutsche Bank.

In a note on Tuesday, analysts pointed out that the current “petrodollar” regime goes back to a deal struck in 1974 when Saudi Arabia agreed to price its oil in dollars and invest surpluses in U.S. assets.

And because oil is a core input to global manufacturing and transport, supply chains have a natural incentive to dollarize, the note added. Indeed, Mideast oil and gas is used to make petrochemicals, fertilizer, and even helium, which is critical to chipmaking.

“The world saves in dollars in large part because it pays in dollars,” Deutsche Bank said. “The dollar’s dominance in cross-border trade is arguably built on the petrodollar: globally traded oil is priced and invoiced in USD.” 

In exchange for Saudi Arabia recycling its dollars back into the U.S., Washington guaranteed the kingdom’s security, which also involved stationing troops in the region, providing advanced weapons, and ensuring free navigation in the Strait of Hormuz.

That security shield was on display in 1990, when Saddam Hussein invaded Kuwait and threatened Saudi Arabia. The U.S. assembled a massive international coalition to quickly defeat Iraq and lower oil prices.

Fast forward to today, and America’s role in the Mideast looks vastly different. While the U.S. and Israeli militaries have severely degraded Iran’s capabilities, the regime still retains enough to combat power to selectively close off the Strait of Hormuz—unless countries negotiate safe passage and pay in Chinese yuan.

At the same time, Iran’s swarms of missiles and drones have inflicted significant damage on U.S. aircraft, radars and bases, while American air-defense systems have failed to completely protect Gulf allies’ critical energy infrastructure.

But even before the Iran war, the petrodollar regime had come under pressure, Deutsche Bank noted. U.S. sanctions on oil from Russia and Iran created an illicit trade that relied on other currencies, like the yuan.

Saudi Arabia also joined mBridge project, a central bank digital currency initiative led by China that takes on the dollar-payment infrastructure.

“The current conflict may expose further fault lines, by challenging the US security umbrella for Gulf infrastructure and the maritime security for global trade in oil,” analysts warned.

U.S. troops walk towards their barracks upon landing at Saudi Dhahran air base on Aug. 21, 1990.

GERARD FOUET/AFP via Getty Images

Until the U.S. can neutralize Iran’s salvos, the Gulf will continue to be pummeled. Not only are their oil shipments bottled up in the Persian Gulf, output has been slashed as supplies have nowhere to go.

Efforts by Gulf states to diversify from oil and become international finance and tourism hubs are also at risk amid the Iranian bombardment.

“Damage to Gulf economies could encourage an unwind in their foreign asset savings,” Deutsche Bank said. “In this context, reports that the passage for ships through the Strait of Hormuz may be granted in exchange for oil payments in yuan should be closely followed. The conflict could be remembered as a key catalyst for erosion in petrodollar dominance, and the beginnings of the petroyuan.”

Any loss of the dollar’s “exorbitant privilege” would also ripple through other areas of global finance, including the bond market. Due the dollar’s status as the world’s reserve currency, the federal government has long been able to issue debt at rates lower than investors would otherwise allow.

To be sure, dollar doomsayers have consistently been proven wrong, and the greenback has surged against other top currencies during the Iran war.

But there’s an even bigger potential threat to the dollar’s dominance than China’s currency: a permanent shift away from globally traded oil and gas.

With energy prices sky high, countries in Asia that rely heavily on Mideast supplies are scrambling to ration oil and gas while turning to coal, nuclear power, and renewables.

Demand for electric vehicles is also up across the globe, with Deutsche Bank saying energy choices of the Global South, Europe and North Asia will be key to track.

“A move away from oil could be as powerful as the pressure to price it in other currencies,” it added. “A world that becomes more self-sufficient in defence and energy could also be a world that holds less USD reserves.”

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How Student Loans Work: Applying, Borrowing, and Repayment


There’s a staggering lack of financial literacy when it comes to how student loans work when paying for college.

Every college financial aid office says “just apply for student loans”, but nobody tells you how student loans work!

Increasingly, tuition continues to rise, saddling millions of students with large amounts of student loan debt. In fact, the average student is graduating with almost $40,000 in student loans. That’s slightly more than a Tesla Model 3 or even a wedding. Without students loans, many people would not even be able to attend college.

For most anyone heading to college, student loans will become a fact of life. But where do student loans come from, how much can you borrow, and what is the true cost? In this article, you’ll learn all about how student loans work.

The Ins and Outs of Student Loans

Student loans are available for undergraduate and graduate students alike. They are based on need, of which income is only one component. Students loans are issued by the government (hence the term Direct Loan – directly from the government). Although, private student loans are also available. The amount issued to a student will depend on the student’s financial situation. The final decision is up to the school.

Financial aid packages are the first step in receiving a student loan. The financial aid package is made up of gift aid (such as grants and scholarships), loans, and work-study programs.

What is the collateral for a student loan? It’s important to remember that the collateral for a student loan is your future earnings. When you buy a car and get a car loan, the collateral for the car loan is the car. So if you don’t pay the car note, the bank can repossess your car. With student loans, it’s important to remember that the collateral is your future earnings. If you don’t repay a student loan, the government can garnish your wages, take your tax returns, and more. Always keep this in mind when borrowing.

Collateral For Student Loan Debt | Source: The College Investor

How To Apply For A Student Loan

The FAFSA, or Free Application for Federal Student Aid, must be filled out each year to receive financial aid. FAFSA deadlines change each year. You can check the deadlines here. Be sure your FAFSA is submitted on time. Otherwise, a late FAFSA will certainly complicate your financial situation and leave you scrambling to pay for school.

To get an idea of how much financial aid you might be awarded, check the Federal Aid Estimator website.

Upon being “awarded” financial aid, you’ll receive amounts for gift aid and loans. There should also be a breakdown of your school’s cost. Schools display cost information in different ways and the true cost can be off by a wide margin. Depending on what is shown, you may need to ask the school for cost on:

  • Tuition
  • Housing
  • Food
  • Travel
  • Fees (labs, etc.)
  • Books

Add in any other known cost. It’s better to overestimate rather than underestimate. Many students find that they are short on money, even after receiving their financial aid. This is due to many costs that are not accounted for.

Note: The first year is also usually the least expensive year of college. Your college costs will typically rise each year you attend a college.

Actually Applying For Student Loans

Now that you have your financial aid award, you’ll see several “awards” of loans (notice the parenthesis – it’s terrible they call this an award). These loans are subject to the annual student loan limits, which are very low – only $5,500 in year 1. 

First, you’ll be offered a Direct Student Loan. This is your child’s loan. It could be subsidized or unsubsidized. With subsidized loans, the government pays your interest while in school. With unsubsidized loans, your interest grows your loan balance while you’re in school. That’s the only real difference. Read our full guide to subsidized vs. unsubsidized loans here.

Second, you may be offered Parent PLUS Loans. These loans are the parent’s loan. Your child has no legal responsibility for this loan. You can borrow, as a parent, for your child’s education. We hate seeing parent’s borrow for their children’s college, but we also know that some parents might not have planned or want to have tough conversations. As a result, a lot of over-borrowing can happen. See our full guide to Parent Student Loans here and make sure you understand the updated Parent PLUS borrowing limits of $20,000 per year, and $65,000 total.

Finally, you can look at using private loans. Many families opt for private loans in-lieu of Parent PLUS Loans. Private loans are taken out in your child’s name, but the parent is the cosigner. This makes both of you responsible. For parents with great credit and income, private loans may offer lower interest rates. But they don’t come with any type of loan forgiveness options, and rarely are the rates actually much better. Borrow at your own risk. You can see our guide to the best private loans here.

Make sure you compare Parent PLUS vs. Private student loans – especially with all the changes moving forward.

How Much Should You Borrow?

Once you have an annual cost for school, subtract out gift aid and any money your parents may have saved up for college. If you have saved up money for college, subtract it out as well. The number you’re left with is not only direct school cost (tuition & housing) but cost needed to live while you’re in school. If you have a job, factor in how much of the above cost it will cover. You should have a final number on cost at this point.

That final number is the amount needed for school loans. The less money in school loans you have to take, the better. As you can see, the amount of loans isn’t just about tuition and books. It should factor in all costs that are associated with being a student.

One caveat about student loans: students will often take the full awarded amount, even if it isn’t needed. If you don’t need the full amount, you can take only what is needed. Taking more loan money than what is needed will cost more in interest and increase your monthly loan payments.

Key Rule Of Thumb: Our key rule of thumb for how much you should borrow is simply to NEVER borrow more than you expect to earn in your first year after graduation. This will help ensure that you never borrow too much and can’t afford to repay it.

If you want to dive into more accurate numbers, you can input all your loans in this calculator and see what repayment looks like: How Much Student Loan Debt Can I Afford Calculator?

Paying Back Your Student Loans

If you have Federal student loans, there are a variety of repayment plans, such as income-driven repayment plans, that can help you pay back your student loans in an affordable way.

You should pick the repayment plan that you can afford to make the payment on every month. If you don’t know where to start, look at using a tool like Student Loan Planner to help you.

The government offers a number of loan features that are not available with non-government loans. These include:

  • Forbearance: You don’t have to start paying on student loans until after you graduate.
  • Hardship: While in repayment, you can push back payments until your finances improve.
  • Low interest: Most loans will have interest rates in the single digits.
  • Low origination fees: Fees for disbursed loans are ~1% of the loan value.
  • Loan Forgiveness Programs: There are a variety of loan forgiveness programs that federal loans are eligible for.

Here are the repayment plan options at a glance:

Student Loan Repayment Plan Options | Source: The College Investor

If you are enrolled at least half-time, you don’t have to begin making payments on government loans until six months after graduating. Additionally, interest will not accrue until after graduation for subsidized loans, but starts accruing immediately for unsubsidized loans.

According to the latest Student Loan Statistics, the average monthly payment is $503, with a median monthly payment of $290. How much you pay will depend on the repayment plan and interest rate. Note that graduate loans will usually have higher interest rates than undergraduate loans.

Private loans don’t have any options for loan forgiveness, and the deferment rules are strict. You essentially have to make these payments no matter what, just like a mortgage or car loan.

A Necessity for Most Students

With tuition continuing to skyrocket, student loans have become a necessity for virtually any student wanting to attend college. While student loans can be a large source of financing for college, planning for cost and taking only the amount needed will help to avoid being overly saddled with unneeded debt.

Editor: Colin Graves

Reviewed by: Chris Muller

The post How Student Loans Work: Applying, Borrowing, and Repayment appeared first on The College Investor.

Will mortgage rates hit 7% next week?


President Donald Trump repeatedly said talks with Iran on ending the war were going “very well,” even as Iranian officials publicly denied negotiations were taking place and vowed to continue fighting. That disconnect left markets bracing for more headline‑driven swings.

For originators and brokers, the key question is not whether rates might briefly print a 7‑handle, but how borrowers would react if they did.

When mortgage rates previously approached that threshold, “seeing a mortgage rate close to the 7% mark might be initially dispiriting,” loan officer Jay Lessard told MPA, but buyers who could handle the payment often decided “it may be in their interest to move ahead” rather than wait.

What higher‑for‑longer could mean for housing

Freddie Mac’s chief economist Sam Khater warned earlier that even modest shifts in yields could quickly feed through to housing costs. The 30‑year mortgage rates were already averaging about 6.22% before the latest spike, with the odds of any Fed rate cuts this year fading as gas prices surged.

For now, industry veterans viewed 7% not as a certainty, but as a live risk.

[MA, NH, ME, RI] Eastern Bank $750 Checking/Savings Bonus


Update 3/28/26: Deal is back until May 8, 2026. To qualify you cannot have had an Eastern bank or HarborOne account after March 7, 2025. Hat tip to reader Other James

Update 10/19/25: Deal is back until November 17th, 2025. Hat tip to reader Midori

Offer at a glance

  • Maximum bonus amount: Up to $750
  • Availability: MA, NH, ME, RI
  • Direct deposit required: Yes, $4,000+
  • Additional requirements: See below
  • Additional requirements: None
  • Hard/soft pull: Soft
  • ChexSystems: Yes, sensitive
  • Credit card funding: No longer available
  • Monthly fees: None
  • Early account termination fee: None, bonus will post by January 28, 2020
  • Household limit: One
  • Expiration date: 9/15/2025

The Offer

Direct link to offer

  • Eastern Bank is offering a bonus of up to $750. 
    • Get $350 when you open a new Checking Account and complete the following requirements: Two or more qualifying direct deposits totaling $4,000 within 90 calendar days of account opening
    • Get $250 when you open a new Statement Savings Account and qualify
      • Deposit $15,000 within first 30 calendar days of account opening
      • Maintain a $15,000 average daily balance over a 90-calendar-day period
    • Get $750 total when you do both (An additional $150)

The Fine Print

  • Checking Offer: To qualify for the incentive, you must open an Eastern personal checking account between 8/1/2025 and 9/15/2025 and have two or more recurring electronic payroll pension or government benefits direct deposits totaling $4,000 within the first 90 calendar days of the account opening date. Electronic credits (other than payroll, pension, or government benefits) such as person-to-person payments, self-initiated transfers between your accounts at Eastern Bank and other institutions or brokerages (including pension accounts), and payments through third parties such as PayPal or eBay do not qualify as a direct deposit. You must be a new personal checking account customer. New checking customers have not had an Eastern Bank personal checking account or have had a personal checking account relationship with Eastern Bank, or any Bank merged into Eastern Bank since 8/1/2024. 90 calendar days after the account open date, Eastern Bank will determine if an incentive will be paid out based on whether the stated qualifications and the Additional Important Information were met for the Checking Offer. Incentives for qualified accounts will be deposited into customer’s checking account on or before 1/15/2026.
  • Savings Offer: To qualify for the incentive, you must open an Eastern Statement Savings Account between 8/1/2025 and 9/15/2025 and deposit $15,000 within the first 30 calendar days of account opening. You must maintain a $15,000 average daily balance over a 90-calendar-day period. This period will begin on the 31st day following account opening. You must be a new Statement Savings customer. New Statement Savings customers have not had an Eastern Bank personal savings or money market account or have had a personal savings or money market account relationship with Eastern Bank, or any Bank merged into Eastern Bank since 8/1/2024. 120 calendar days after the account open date, Eastern Bank will determine if an incentive will be paid out based on whether the stated qualifications and the Additional Important Information were met for the Savings Offer. Incentives for qualified accounts will be deposited into your savings account on or before 2/16/2026.
  • Extra Offer: Earn an extra $150 if you open and qualify for both the Checking Offer and the Savings Offer. The checking and savings accounts must be opened within 3 business days of each other. The Primary signer must meet both the Checking Offer and Savings Offer requirements and all other qualifying criteria. The extra $150 for qualified accounts will be deposited into the customer’s checking account on or before 2/16/2026.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Eastern free checking has no monthly fees to worry about.

Early Account Termination Fee

There is no early account termination fee

Our Verdict

There is a $300/$450 checking offer that $450 bonus is obviously better if you want to just do the checking bonus. Statement savings account earns 0.01%. That means the savings bonus works out to be 6.6666% APY. Extra $150 for doing both is comparable to just the $450 checking bonus that is also offered so I don’t think this combined bonus is actually worth doing. 

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