SmartMoney - The Wall Street Journal

More Bank Branches Take the DIY Approach

The old-fashioned bank-teller line is getting an overhaul. Banks are installing new gizmos in hopes of reducing wait times for customers and freeing up employees to sell products that boost the bottom line.

Smarter Ways to Help Your Kids Pay for College

The trend toward putting off having children means many parents are facing their kids' tuition bills when they are hitting their 60s and about to retire.

Despite Concern, Banks Give Student Loans the Old College Try

Even as the growth of student debt stirs debate on everything from whether the government should move to ease borrowers' burden to the ability to discharge obligations through bankruptcy, some banks are jockeying for position to lend to ...

States Are Shaking Up Their 529-Plan Lineups

To attract more parents to college-savings plans, states are making a new round of changes to deliver lower-cost, better-performing investments.

College: 'Best Investment' or Big Risk? Hough: The financial return for a four-year degree may surprise you.

College is the best investment you can make, President Obama told students last month at the University of Colorado. As a metaphor for the benefits of education, that statement is fine. But taken as a claim about the financial returns of a ...

To Pay Off Loans, Grads Put Off Marriage, Children

Between the ages of 18 and 22, Jodi Romine took out $74,000 in student loans to help finance her business-management degree at Kent State University in Ohio. What seemed like a good investment will delay her career, her marriage and ...

'529 Plans' Feel the Heat

To attract more parents to college-savings plans, states are making a new round of changes to deliver lower-cost, better-performing investments.

Can Private Student Loans Undercut Federal Rates? A provision in a law that has keep rates down on subsidized Stafford loans is set to expire -- unless Congress acts quickly.

The rates on popular federal student loans could shoot up before the next academic season, depending on the outcome of a political battle brewing in Washington.

How Will You Spend Your Refund?

Last time, I looked at why something that's bad for us—getting a big tax refund—feels good. Our rational side knows we shouldn't give Uncle Sam an interest-free loan by overpaying our taxes throughout the year, but our emotional side seems ...

College grads: Think about retirement now; Start saving early; avoid your parents’ problems

STOWE, Vt. (MarketWatch) — The majority of this spring’s college graduates are not ready to take on the world financially. On average, two-thirds of students will graduate with student loans of $25,250 and more than $4,000 in credit card ...

The Student-Debt Playbook

Are you or your adult children carrying a big load of student debt? Your family may well feel like the federal deficit is sitting on your shoulders.

When Colleges Lowball Costs

Price calculators were supposed to make estimating the cost of going to college easier. But some families are feeling burned by them. Beginning last fall, nearly every public and private college in the

Risks Rise for College Prepaid Plans; The sleep-soundly promise for these increasingly popular 529 plans isn't always ironclad.

Spooked by the stock market, more parents saving for their kids' colleges are putting their faith in something that could prove to be equally tenuous: the ability of state governments to manage money.

Hiring plans strongest since ‘08: Manpower; Job seekers should ‘redouble efforts’

WASHINGTON (MarketWatch) — Hiring plans are increasing for the second quarter of 2012, hitting the strongest pace since late 2008, according to the Manpower Employment Outlook survey released Tuesday.

More Money, More Risk in Prepaid-Tuition Plans

Spooked by the stock market, more parents saving for college are putting their faith in something that could prove to be equally tenuous: the ability of state governments to manage money.

Due Diligence for All Future Student Loans

Student-loan lenders have no incentive to perform due diligence on an applicant's creditworthiness, academic performance, future earnings potential and financial need because college loans are rarely forgivable in bankruptcy, and the ...

How to boost your investing stamina; Commentary: Investors, don’t just do something; sit there

PALO ALTO, Calif. (MarketWatch) — For most investors, tuning out the market’s noise and following their portfolio plan is the best path to success.

Five Mistakes You May Be Making

Mistakes you are making now may sabotage your retirement later. While not having a game plan for how you're going to retire by age 65 may not seem like a priority today, for example, the longer you delay planning hurts your chances of ...

College Math 101: Calculating the Real Cost of Attending

The fat envelopes are rolling in for Rhianna Lawson, a high-school senior in Virginia Beach, Va. But her college pick won't come down to which has the greenest quad or best dorm. It'll be about how much her parents have to shell ...

How Not to Major in Debt

The total amount of outstanding student debt has surpassed $1 trillion, according to the Consumer Financial Protection Bureau. If your child is in the process of choosing a college—or is already enrolled—your family might soon be adding to ...

Getting Off The Waitlist

What do you do if your child was put on the dreaded waitlist for the college of his or her choice? Students only have a one in five chance of getting off of the waitlist, according to the Princeton Review.

The Feds and Rising Student Loans

Your editorial "The Bill for ObamaLoans" (March 14) rightly points out the fiscal failings of one of the largest government loan programs. At the rate it is going, in 10 years the federal government will create $1.2 trillion of ...

Tales from the mutual-fund crypt; Commentary: These funds deserved the big dirt nap in 2011

BOSTON (MarketWatch) — No one mourns the loss of a mutual fund, but investors should not ignore for whom the bell tolls. Counting all share classes, the mutual fund industry killed off about 1,300 of its laggards, stragglers and strugglers ...

Cash-Strapped States Cut College Financial Aid

College financial-aid season has just kicked off, and experts say students seeking state grants had better act fast. At least six states, including Illinois, Kentucky and Tennessee, now have "until funds depleted" policies on ...

Saving for College; What to Do With Leftovers in 529 Plans; If you haven't used all the money in your college savings plan, don't just cash it in. You have other options.

Most parents worry about not having enough money in their 529 savings plans to pay for their kids' college expenses. But sometimes you can end up with more cash in these accounts than you need—if, say, a child doesn't go to ...

Give yourself a ‘get out of debt’ card; Commentary: Firms can stiff creditors, but people need a strict plan

BOSTON (MarketWatch) — The ink was barely dry on the bankruptcy filing of AMR Corp., the parent company of American Airlines, when Chris in Tulsa, Okla. wondered “why companies can get away with things that individuals can’t.”

401(k) plans add lifetime-income options

SAN FRANCISCO (MarketWatch) — Some companies are now letting workers invest in annuities, so that their 401(k) savings will eventually yield an income stream, but there are advantages and pitfalls to this new retirement option.

The Tax Mess Deepens

Epic failure in Washington is causing epic uncertainty for taxpayers. This week, Congress's special 12-member deficit-cutting committee failed to agree on even a broad outline for addressing the U.S.'s fiscal woes. It marked the ...

Ask Next; Paying Taxes on IRAs; Taking distributions, Social Security survivors, and helping grandkids save

I am 78 and have been taking minimum distributions from my IRA. I use TurboTax and haven't encountered a provision to separately account for the after-tax contributions I've made. As far as I can tell, I am paying full tax on my ...

Fees for 401(k)s will be revealed in 2012

SAN FRANCISCO (MarketWatch ) — Save the date. Come April 2012, some 65 million workers with 401(k) plans are in for a change. For the first time ever, sponsors of 401(k) plans — employers — will have to disclose what workers are paying for ...

College Savings Without the Tax Bite; For many parents it's the best way to save for college. Here's why.

Thinking about investing in a 529 plan? Join the club. Since 529 plans became exempt from federal taxes in 2002, the market for them has exploded into a multi-billion dollar business.

States' Benefits for 529 Plans Not Created Equal

For all the risks that come with investing in 529 college-savings plans in a period of market tumult, investors in most states have one certainty: that they'll receive state tax benefits for their contributions to their home ...

Mortgage delinquencies, foreclosures fall; Delinquencies halfway back to pre-recession levels: MBA

CHICAGO (MarketWatch) — The percentage of mortgages at least one payment past due fell in the fourth quarter of 2011 and fewer loans entered the foreclosure process, reflecting improvement seen in the economy, the Mortgage Bankers ...

Friday's Personal Finance Stories

Don’t miss these top stories: Housing crisis could play key role in election Congress approves extension of payroll-tax cut Gasoline lifts consumer prices 0.2% in January

It's Not Too Early to Apply for Financial Aid

Financial aid may be tougher to get this year—at a time when college costs are rising and some families need aid more than ever. "College endowments have taken big hits and state support is drying up in states like California," ...

Richard Cordray: ‘Standing up for consumers’; Full text of blog post by Richard Cordray, the new head of the CFPB

SAN FRANCISCO (MarketWatch) — President Barack Obama on Wednesday appointed Richard Cordray, formerly the attorney general of Ohio, to lead the Consumer Financial Protection Bureau.

The College-Savings Superpage; There are now more college investment options than ever before.

Think the only way you'll be able to foot your son's or daughter's future college bills is by winning the lottery? Think again. While the soaring costs of college can be overwhelming, a bit of careful planning can help you ...

Schools Offer Guarantees

More colleges are offering four-year degree guarantees, where you don't pay extra if your child's education spills over into additional semesters.

Saving for College; Benefits of 529 Plans Vary Widely; The state-tax savings for families depend very much on where they live

For all the risks that come with investing in 529 college savings plans in a period of market tumult, investors in most states have one certainty: that they'll receive state tax benefits for their contributions to their home ...

The College Tax Breaks Explained; College costs may be soaring, but these goodies will make paying those bills a little easier.

If you've got college-bound kids, we don't need to tell you that the cost of college these days is staggering. Mercifully, Washington has delivered some valuable tax breaks over the past few years to parents trying to foot those ...

Making 529 Plans Work

Last year's wild rides in the stock market—along with stressed household budgets—are taking a toll on college savings. Net contributions to its 529 college-savings plans fell 1% last year compared with 2010, says Vanguard Group, which ...

The College-Aid Shuffle

College applications are in, and some lucky students already have received acceptance letters. For many parents, though, the real work is just beginning.

The Scholarship Game

Don't assume your child has to be a valedictorian to qualify for scholarships. There are a range of merit-based scholarships aimed at rewarding students for community service, athletic prowess or interest in specific subject areas, ...

Start Paying College Loans

Attention, spring college graduates: It's almost time to start paying back those students loans. The typical six-month grace period is about to end for many borrowers, and the first payments are due within 30 to 60 days, depending on ...

Stable-value funds are shaky 401(k) options; Commentary: Fed pushes savers to diversify and take risk

BOSTON (MarketWatch) — My sister Carole runs a small franchise business and recently started a retirement plan for her employees. She asked me to review the mutual fund choices she could offer.

10 ways to get the most out of your IRA

BOSTON (MarketWatch) — When it comes to individual retirement accounts, better known as IRAs, you might think you’ve got it all figured out. After all, these accounts have been around since 1974 and, with few exceptions, haven’t changed all ...

The biggest threat to your credit score; Commentary: Patience can keep you out of financial trouble

BOSTON (MarketWatch) — We were all taught as children that patience is a virtue. No one said it’s good for our credit scores too. It might seem obvious — those who have patience don’t feel the compulsive need to use credit to get something ...

The 529 Basics; What you need to know before you sign up for a 529 college savings plan.

When considering a 529 plan, the first thing you need to know is that these plans come in two flavors: "prepaid college tuition plans" and "college savings plans." We'll admit, we're pretty partial to the ...

The mortgage settlement: A borrower’s guide; Aid may take months, and eligibility depends on who owns your loan

WASHINGTON (MarketWatch) — The record $26 billion foreclosure-abuse settlement that states and the Obama administration reached last week with five big banks is being billed as a program that will help more than 1 million U.S. homeowners.

College Coffers Are Filling Up, But Costs Are Slow to Come Down

With college endowments enjoying healthy returns, parents are hoping to finally catch a break when it comes to tuition costs. They shouldn't hold their breath.

Prepaid-Tuition Plans; A quick rundown of prepaid college tuition 529 plans.

As the name implies, a prepaid-tuition plan allows you to pay now to cover tuition costs further down the line. With tuition prices soaring, it's easy to see the appeal.

The Game Plan; How some people are saving for retirement—and what financial advisers think of those strategies

The Game Plan takes a look at how individuals and families are saving for retirement—and then asks financial advisers to comment on those strategies. You're invited to share your own retirement-savings plans by sending an email to ...

Consumer delinquencies mixed in third quarter; ABA data show improvement on many closed-end types of loans

WASHINGTON (MarketWatch) — Delinquency rates for consumer loans were mixed in the third quarter, with higher delinquencies for bank cards and lower delinquencies for home-equity loans, according to a report released Thursday by the American ...

College-Savings Plans; Investing in a 529 college-savings plan could also affect your financial-aid eligibility.

Section 529 plans come in two models: The college savings plan and the prepaid tuition plan. Of the two, college savings plans are considerably more flexible, making them a better choice for most families. Here's how they work.

Don't Buy Too Much Insurance! Firms are pushing everything from cancer coverage to tuition protection. We check the latest policies—and lay out what you really need.

In this age of hurricanes, tsunamis, market crashes and banking crises, it isn't any wonder that people are feeling insecure. Companies are responding by rolling out a raft of newfangled insurance policies designed to protect against ...

Fixed-Rate Student Loans—With a Catch

With tuition bills due in a few weeks, a growing number of banks are offering stretched parents and students new, fixed-rate loans that promise protection from the specter of rising rates -- for a price.

Get Smart About College; Parents and students like to think they're rational when it comes to picking a college and paying for it. They aren't.

It's the time of year when families start to think about colleges. But very few take a crucial first step: thinking about how they think.

Tax Breaks for Students

It's application season, and not just for high-school and college seniors. The weak economy is also prompting older workers to return to school to refresh their skills or acquire new ones.

Know your investing ‘comfort zone’; Commentary: ‘Optimal’ portfolio isn’t always right

SAN FRANCISCO (MarketWatch) — Tammy is a 24-year-old college graduate who recently got her first “real job” in nursing, complete with a savings plan and a future.

3 Tax-Savings Deals at Your Job; Open enrollment time is right around the corner. Here's how to take advantage.

Times are tough, and conserving cash is important. One easy way to do that is by taking advantage of tax-saving opportunities at your job. Soon it will be time to sign up for these deals for 2012 during your employer's open-enrollment ...

529 Plans Roll Out New Perks; Years of Rocky Results Have Spooked Investors; Adding 'Open Architecture'

What to do when a college-savings plan gets whipsawed by volatile markets? Plan sponsors think they have answers—but some of their solutions are better than others.

Retailers wage back-to-school price war

NEW YORK (MarketWatch) — With costs for everything from apparel to food on the rise, retailers are waging a price war this back-to-school shopping season.

New Losses for College Savers; For the second time in three years, the markets are taking their toll on 529 plans -- even for soon-to-be freshmen

The back-to-school blues just got a little worse. As colleges are about to send tuition bills, the markets have taken yet another toll on the most popular college-savings accounts in the country: 529 plans.

Don't Go, Parents: 529 Plans Change Again; Just as they may face another market-driven exodus, several states are making changes to their college savings plans, hoping to keep parents calm and invested.

Just as they may face another market-driven exodus, several states are making changes to their college savings plans, hoping to keep parents calm and invested.

Consumer bureau details mortgage-probe strategy; Examiners seek to ensure borrowers aren’t charged illegal fees

WASHINGTON (MarketWatch) — The Consumer Financial Protection Bureau on Thursday released its approach for examining big and midsize banks servicing mortgages, focusing on loans in default as part of an effort to ensure that troubled ...

Ohio State University Prices 'Century' Bond

NEW YORK—Ohio State University sold $500 million worth of 100-year bonds late Wednesday, becoming the first public university to issue a so-called "century" bond.

With 529s, You Can't Judge The State From the Cover

Guess what these college savings plans have in common: Putnam 529 for America, Vanguard 529 College Savings Plan, Upromise College Fund and USAA 529 College Savings Plan.

States Use Sweepstakes to Boost 529 Plans; Recession-battered 529 college-savings plans are trying to lure investors with the chance to win thousands.

Among other ways Cale and Catherine Coulter are saving for college for their two children, the Oklahoma couple hopes to win the lottery. They have entered a sweepstakes aimed at parents saving for college; two lucky families will win more ...

Great Places to Retire—and Find a New Job

Not too long ago, the whole point of retirement was not working. But today's retirees are increasingly counting themselves among the job seekers.

Start-ups aim to change how you bank; Financial firms that offer new ways to exchange, save, borrow money

LONDON (MarketWatch) — “A little informal exchange club” is how TransferWise co-founder Taavet Hinrikus describes the early days of the London-based money-changing start-up he co-founded in January.

Children’s Social Security numbers easy hit; ID theft spotlights vulnerability of personal data

NEW YORK (MarketWatch) –– The first hint of trouble came when Adora McLemore tried to get her children state medical benefits, and was almost denied because her one-year-old daughter, Kenna, was apparently earning income.

Don’t let these 3 retirement risks hit you

This column is part of a series of special reports from MarketWatch, based on live panel discussions hosted by senior columnists and editors from MarketWatch with experts in the field of retirement planning and benefits. This segment of ...

Reality Check; Student Aid: Take Then Give

Quoted: "We want you in school. But we shouldn't saddle you with debt when you're starting off. "So that's why since taking office, we've made it a priority to make college more affordable, reduce your ...

Education Department Has Improved Student Loans

Your Sept. 30 editorial "Washington's Quietest Disaster" and the letters of Oct. 11 raise important concerns about the debt burdening college students but miss the mark in describing the role of the federal student-loan ...

Obama set to unveil student-loan plan

WASHINGTON (MarketWatch) — President Barack Obama is set to unveil Wednesday a plan to reduce the burden of student loans on college graduates as the amount of debt for higher education surges.

For-Profit Educator Is Sued; Justice Department Accuses Education Management of False Claims on Loans

WASHINGTON—The Justice Department and four states on Monday sued Education Management Corp., alleging the operator of for-profit colleges falsely certified that it was eligible to participate in federal student loan programs.

Consumer-credit delinquencies rise

WASHINGTON (MarketWatch) — Delinquency rates for consumer loans rose in the second quarter, as employment weakness persisted and higher gas and food prices pressured family budgets, according to a report released Wednesday by the American ...

Tight on Cash, One State Taps 529 Plan Reserves; A new report suggests Nevada put budget woes ahead of savers' interests. Could other states follow?

Recent controversy over one state's use of the funds in its college savings plans has raised new concerns for parents and students across the country with money in 529 plans.

More Dropouts For 529 Plans; Real-Time Advice: Withdrawals from college-savings plans are at highest level since 2008, according to data released this morning.

Applying for Scholarships? Think Small

Forget about scoring that one big scholarship or grant to cover the rising cost of college. Students are finding that smaller is often more lucrative.

Bad Marks for College-Savings Plans May Not Call for a Time Out

Third-quarter report cards are in for college-savings plans and the results are likely to trouble many parents. The new figures, from fund researcher Morningstar Inc., show that investments in 529 plans fell an average of 9.5% in the third ...

Big borrowers face larger down-payments, rates; Government-backing for big loans ends October 1

WASHINGTON (MarketWatch) — Many borrowers in the country’s most expensive housing markets will be forced to make higher down-payments and pay higher rates for large 30-year-mortgages starting Saturday.

Employment outlook still weak: Manpower; Employment outlook: relatively stable, but low

WASHINGTON (MarketWatch) — Employers’ hiring plans for the fourth quarter are “relatively stable” — slightly down from the third quarter, but a tick higher than in the prior year, according to the Manpower Employment Outlook survey released ...

Where Your Vacation Dollars Will Fall Short

In recent years, American travelers have gotten used to watching their greenbacks shrivel away in the face of the mighty euro. But as it plunges to new lows some days, there may be no safe place for the U.S. dollar to go to get a little ...

Fixed-Rate Student Loans, With a Catch; Now borrowers can swap the potential for higher rates later with the certainty of higher rates now

With tuition bills due in a few weeks, a growing number of banks are offering stretched parents and students new, fixed-rate loans that promise protection from the specter of rising rates -- for a price.

Got Medicare? You may be paying too much; Older Americans often don’t pick the Advantage plan that’s best for them

DECATUR, Ga. (MarketWatch) — Medicare Advantage plans can save older Americans money, but difficulty choosing among the many available plans often prevents them from realizing substantial cost-savings.

Make This Estate Planning Move Now; Failure to take this action can have dire consequences.

With the current $5 million federal estate tax exemption, you may not be thinking much about estate planning. After all, there's no way your estate would owe the tax if you happen to die between now and 2013. So no worries, right? ...

For Student Borrowers, a Hard Truth; More people are defaulting on their student loans -- and discovering the consequences are far-reaching.

As many students and parents struggle to make payments on their student loans, many are finding this debt comes with some serious strings attached.

Sizing Up the President's College-Debt Initiatives

With student-loan debt exceeding credit-card debt for the first time last year, President Obama recently announced initiatives designed to help ease college graduates' debt burden.

A Three-Year Countdown to Saving for College

How are we going to pay for college? That's the question families are increasingly asking themselves as they see education costs soar while their savings dwindle.

SAVING FOR COLLEGE; Mapping the Money in 529 Plans

How is it that some of the smallest states are among those with the largest 529 college-savings programs, and a few very large states are among those with the smallest?

Beyond 529 Plans: How to Save Money for Kids; A 529 isn't the only option when it comes to saving for kids. Here are three alternatives.

When families think of investing for a child's future, they often turn to 529 college-savings plans. But there are other types of accounts that parents may find valuable -- and that can be used to teach children about the value of ...