As summer comes to an end, kids and adults alike are headed back to school. But for college graduates, this also means it's time to resume payments on their federal student loans after a hiatus of more than three years.

More than half of North Carolina college graduates have some student-loan debt, and starting Sept. 1, interest will begin accruing on their federal loan debt, with payments due again in October.

Brian Walsh, associate manager of financial planning for SoFi, a personal-finance company, said there are steps borrowers can take before that date to get prepared.

"Number one, it's really important to take a step back and understand what federal student loans you have," he said. "So, you could do that by going to studentaid.gov and find information on your federal student loans, what types they are, the balances, interest rates."

Walsh said you should also research whether there are loan-forgiveness options available. The Institute for College Access and Success found that in the year before the pandemic, the average college loan debt for a North Carolina graduate was nearly $30,000.

The Consumer Financial Protection Bureau added that 30 million borrowers will have a new loan servicer when payments resume. Walsh said this also means scams will be more prevalent, and warned borrowers to verify the legitimacy of any student-loan communication.

"One of the first places to start is by, if you have a federal student loan, connecting with your servicer," he said, "because over the last three-and-a-half years, not only have payments and interest on federal student loans been paused, but there's been a ton of turnover as far as loan servicers."

He explained that a loan servicer can discuss repayment options that can help borrowers avoid financial hardship. He highlighted the new income-driven repayment option introduced by the Biden administration, and said the plan is generous compared with previous options, and may benefit a majority of student borrowers.

Support for this reporting was provided by Lumina Foundation.


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Concert and sports fans in Ohio are expressing growing frustration over rising ticket prices and hidden fees.

In response, Congress is considering the TICKET Act, a bipartisan bill which aims to increase transparency by requiring ticket sellers to display all fees upfront.

Sally Greenberg, executive director of the National Consumers League, highlighted why she feels the issue is so important for consumers.

"People in Ohio understand the frustration and the anger that you feel when you go buy a ticket, it looks like a reasonable cost and, all of a sudden, the fees add 30%, 40%, 50% of the cost," Greenberg explained.

If the TICKET Act passes, ticket vendors will be required to show the total price, including fees, at the beginning of the purchase process. While supporters such as Greenberg see it as a win for consumers, some in the ticketing industry argued the change could disrupt business models.

The rise of online ticket fraud has become another challenge for buyers.

Nick Drewe, CEO of the consumer website WeThrift.com, emphasized the importance of vigilance when purchasing tickets online.

"Our study revealing the states with the highest online shopping fraud reports is a wake-up call for consumers nationwide," Drewe noted. "Navigating the digital marketplace is kind of like exploring a new city; it's exciting but also requiring caution."

As Ohioans await the outcome of the TICKET Act, many hope increased transparency will lead to fairer ticket pricing. Drewe urged consumers to remain cautious while shopping online to avoid becoming victims of fraud.

Groups are warning technology companies could undermine protections on a number of issues with their push for certain provisions in international trade agreements, known as digital trade rules.

Julie Bouanna, executive director of the Washington Fair Trade Coalition, said the policies could limit regulations on Big Tech passed in Washington state.

"The People's Privacy Act, legislation on artificial intelligence oversight and the right to repair," Bouanna outlined. "This is legislation that we see popping up in Washington but also, really, across the country as we're waking up to Big Tech's outsized influence on our everyday lives."

The People's Privacy Act was proposed legislation in Olympia, which would have allowed residents to correct and delete personal information collected on data servers. The tech industry argued trade agreements include exemption provisions for certain policies. It also said overregulation in areas like artificial intelligence could stifle the technology.

Bouanna countered there are legitimate concerns about the effects of including the policies tech companies are pushing for in trade agreements.

"These are trade rules that would essentially allow corporations to sidestep local privacy laws and shield their technology from government oversight," Bouanna explained. "Making it harder to hold them accountable."

Washington state lawmakers have also introduced legislation to increase transparency for algorithm-based decision-making to prevent discrimination from AI and allow for more affordable fixes to products through "right to repair" legislation, which has been adopted in other states like Oregon.

Bouanna noted all the policies could be affected by digital trade rules.


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During National Hispanic American Heritage Month, financial experts are speaking out to help Latino families build wealth.

Federal data show that more than a quarter of Latino consumers in the U.S. have no recent credit history, making them "credit invisible" and unlikely to qualify for a loan.

Jorge Lopez Colunga, business development officer in commercial lending for Self-Help Federal Credit Union in San Francisco, said some Latinos are unaccustomed to using credit.

"In Mexico, Latin America, it's either you pay cash or you just don't buy it because you cannot afford it," Lopez Colunga explained. "Here you have to learn how to use credit and leverage it, because it's crucial in order for them to afford something bigger in the future."

Lopez Colunga pointed out many Latinos are self-employed and may operate on a cash basis. He advised people to keep meticulous records and hire an accountant because accurate business income and tax records will help them qualify for business, home and car loans down the line.

Maria Ramos Cuaya, racial wealth gap coordinator at Self-Help Federal Credit Union, encouraged people to seek financial counseling.

"We always try to connect our members with the proper resources for them to understand how to create a spending plan, how to manage their finances, how to access credit without having to get into so much debt," Ramos Cuaya outlined.

Ramos Cuaya noted many banks and credit unions offer "credit builder" loans to help people establish or build new credit using their own money.