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Month: August 2024

Traveling over Labor Day weekend? Have a back-up plan for cancellations and delays

Traveling over Labor Day weekend? Have a back-up plan for cancellations and delays

By DAVID KOENIG, AP Business Writer

Many children have gone back to school in the U.S., and the days are getting shorter, but there is still one more excuse to use the swimsuits and beach towels before packing them up: Labor Day.

Airports, highways, beaches and theme parks are expected to be packed for the long holiday weekend as a lot Americans mark the unofficial end of summer the same way they celebrated the season’s unofficial start: by traveling.

The Transportation Security Administration anticipates screening more than 17 million people between Thursday and next Wednesday — a record for the Labor Day period.

Travelers pass through Salt Lake City International Airport rolling carry-on luggage.
Jordan Strauss/Invision/Associated Press

FILE – Travelers pass through Salt Lake City International Airport on July 3, 2024, in Salt Lake City. (AP Photo/Rick Bowmer, File)

AAA says bookings for domestic travel are running 9% higher than last year for the holiday weekend, while international trips are down 4%.

American Airlines plans to have its largest Labor Day weekend operation ever and expects a 14% increase in passengers compared to last year.

If you are traveling to get a last blast of summer, here is a rundown of what you need to know. read more

Student loans: 1 in 3 borrowers have slowed repayment

Student loans: 1 in 3 borrowers have slowed repayment

By Joe Yerardi | NerdWallet

About 43 million Americans hold federal student loan debt and, for some, paying off that debt can be a burden. Many borrowers have access to programs that can pause or reduce their payments, but a new survey finds some borrowers may be forgoing the proper channels and stopping repayment entirely in hopes of student loan forgiveness.

Nearly one in three (31%) student loan borrowers have slowed the repayment of their loan(s) because they hope to see their loans reduced or forgiven by the federal government, according to a recent NerdWallet survey conducted online by The Harris Poll among more than 600 U.S. adults who currently have student loans. And nearly one in four (23%) have stopped their student loan payments altogether for the same reason.

Notably, the survey didn’t ask whether borrowers who slowed or stopped their repayments did so after entering into forbearance or deferment plans. Further, student loan delinquencies have remained largely unchanged since the COVID-19 payment pause ended last October, according to data from the New York Fed. This is likely due to a one-year “on-ramp” grace period set to expire Sept. 30, during which the Department of Education is not reporting any borrowers who miss payments as delinquent. read more