Boston University announced the BU Promise, a financial aid program that will meet 100% of demonstrated financial need without loans for first-time, first-year students who are US citizens or permanent residents, beginning with the 2026–27 academic year. At a school where tuition alone runs $73,024, that's a major shift in what families will actually pay.

Under the program, admitted first-year students from families earning under $200,000 with typical assets will pay no more than $20,000 per year toward the cost of attendance. Families earning $75,000 or less will pay nothing, with financial aid covering full tuition plus the standard housing and dining plan.

That puts BU on the growing list of no-loan colleges where aid packages exclude student loans entirely.

Why It Matters

Sticker prices at private universities keep climbing, but most families never pay them — colleges now discount tuition 56% on average, and only about 1 in 8 students pays full price.

The problem is that "meeting full need" can mean very different things depending on how a school calculates need. BU's approach stands out because it attaches hard dollar caps to specific income tiers, so families can estimate their net price before applying.

Income Thresholds 

Here's what admitted first-year students starting in 2026–27 can expect to pay, based on total household income with typical assets. Families must still fill out the FAFSA and CSS Profile so the college can validate assets, not just income.

• $0 – $75,000: Full tuition plus standard housing and dining covered. Net cost: $0
• $75,001 – $100,000: COA of $10,000 or less per year
• $100,001 – $150,000: COA of $15,000 or less per year
• $150,001 – $200,000: COA of $20,000 or less per year
• Over $200,000: Tailored aid, but BU says it weighs circumstances like multiple children in college or a high cost of living

One caveat: while aid packages won't include loans, eligible students may still be offered Federal Direct Loans, and families can choose to borrow.

How This Connects

BU joins MIT and Harvard, both of which made tuition free for families earning under $200,000, in what Forbes has called a free tuition arms race among elite private universities.

The pattern matters for families comparing offers: a private school with strong aid can beat an in-state public on net price, which is why we track schools offering free tuition and encourage families to compare actual aid packages, not sticker prices.

Students must submit all required aid materials to qualify, so families targeting BU should watch FAFSA deadlines and complete the CSS Profile on time. Watch for more private universities to match the $200,000 threshold as they compete for the same shrinking pool of applicants.

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Senators Jon Husted (R-OH) and Michael Bennet (D-CO) have introduced the First-Time Home Buyer Empowerment Act (S. 5227), the Senate version of a House bill (H.R. 7468). The bills would let beneficiaries of long-held 529 accounts withdraw up to $35,000 tax-free to buy their first house, something the 529 qualified expense rules don't allow today.

Under current law, spending 529 money on a house means income taxes plus a 10% penalty on the earnings portion of the withdrawal, as our reporting on using a 529 plan to buy your kid a house lays out.

The only current way to "get money out" of overfunded 529 plan accounts is the SECURE 2.0 provision that lets beneficiaries roll up to $35,000 from a 15-year-old 529 into a Roth IRA.

Why It Matters

Fear of overfunding is the top reason families hold back on 529 contributions, and the Roth IRA rollover option helped push 529 balances to a record in 2025.

This bill would add a second exit ramp (a down payment) continuing a pattern of Congress widening what 529s can do, from K-12 tuition to student loan repayment.

The Details

The mechanics mirror the 529-to-Roth IRA rollover rules:

• The 529 account must have been maintained for at least 15 years.
• Contributions made in the last five years (and their earnings) don't count.
• The money must be used within 60 days to buy a principal residence for the account's beneficiary, who must be a first-time homebuyer.
• The $35,000 cap is a combined lifetime limit shared with the Roth IRA rollover. Every dollar rolled into a Roth reduces what can go toward a home, and vice versa.
• If the purchase falls through, savers get 120 days to put the money back into a 529 or ABLE account without penalty.
• Sell the home or stop living in it within five years, and the tax benefit is recaptured, reduced by 20% for each full year of ownership.

There are currently differences between the House and Senate bills though. The 15-year clock applies to an account maintained under "one or more" 529 plans, so a rollover from one state's plan to another doesn't restart it. And the tax break only applies to the original designated beneficiary or a successor in the same or a younger generation, so account owners can still change beneficiaries, within limits.

How This Connects

For the graduates most likely to benefit, the down payment problem usually arrives while they're still buying a home with student loans on the balance sheet. And for families deciding whether to keep leftover 529 money invested for grandchildren (the dynasty 529 strategy) a home-purchase option changes the math on how much flexibility those dollars really have.

The House bill has picked up 10 sponsors, including two Democrats, but Bennet is the only backer on a tax-writing committee (Senate Finance).

With Congress having already passed housing legislation this year, another tax vehicle before the end of the session is uncertain. Still, the bill is bipartisan in both chambers and builds on a rollover provision that 529 savings statistics show families are already using.

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"PSLF Qualifying Months of Employment Incorrect," reads a new banner message on borrowers' account dashboards at StudentAid.gov. "The number for your PSLF qualifying months of employment is incorrect. We are working to fix the data issue and will provide an update soon. We apologize for the confusion caused by this error."

The banner appeared Thursday, days after borrowers pursuing Public Service Loan Forgiveness began reporting sudden drops in their qualifying payment counts, with some receiving formal "Qualifying Payment Reduction Notices."

Here is the new banner borrowers are seeing:

Why It Matters

PSLF provides loan forgiveness on remaining Direct Loan balances after 120 qualifying payments, or 10 years of full-time work for a government or nonprofit employer. The payment count is the center piece of the entire program, and borrowers depend on the tracker and banners at StudentAid.gov to confirm progress.

Federal Student Aid call center reps are telling callers the issue is a data error, that payments still qualify, and that a fix is coming, but the department has not said how many borrowers are affected or when counts will be restored. The Department of Education has not returned a request for comment as of publication. 

What Borrowers Are Seeing

One Reddit user reported falling from 103 qualifying payments to 88 after submitting a routine employment certification, with payments that previously counted toward PSLF suddenly marked ineligible.

Another borrower who made their 120th payment in July (the finish line for forgiveness) watched their tracker drop to 99.

Many borrowers are seeing issues with their July payments specifically.

A Recent Pattern Of Data Glitches

This is at least the third major data error in about a month. MOHELA sent false past-due notices to borrowers who owed nothing, warning some they were at risk of default. Weeks earlier, the department told IDR applicants to reapply for their repayment plans after monthly payments were calculated incorrectly.

The errors are piling up as servicers rush to implement sweeping changes to federal student loans, and two advocacy groups this week called for a pause on payments and interest until the system works.

What Borrowers Should Do

Don't assume your credit is gone. The evidence points to a glitch, not a policy change. We've seen this before when the Department has upgraded or changed their systems, and while it's frustrating in the short term, it usually gets resolved. 

But document everything now: download your payment history, save employment certification approvals and IDR letters, and screenshot the month-by-month breakdown on your PSLF tracker. Our PSLF checklist covers the records worth keeping. If your count dropped, contacting your congressperson or senator can add pressure and help escalate your case.

The department's banner says an update is coming "soon" but has given no timeline. Watch for the banner to come down and counts to be restored. With SAVE forbearance ending and millions re-entering repayment, the system strain behind these errors isn't going away.

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What Is FinDash?

Launched in 2025, FinDash is an AI-powered household financial management platform designed to help you organize your financial life. The company also offers a separate version of its platform built specifically for financial advisors, with additional tools for managing client relationships and financial plans. However, for this review, I'm focusing on the personal version of FinDash and the features it offers individuals and households.

What Does It Offer?

FinDash combines financial organization and collaboration into one platform. Here's a closer look at some of its key features: 

Household Financial Dashboard

The Household Financial Dashboard is where you'll spend most of your time in FinDash. You can securely connect all of your bank and investment accounts through Plaid, a third-party platform that automatically imports your balances and account history. FinDash offers a limited free plan which includes net worth tracking, goal tracking, budgeting, cash-flow planning, and more. You can connect one account with the free plan.

For more in-depth tools, you can choose a paid plan. This will unlock AI analysis tools, advanced financial projections, downloadable PDF reports, tax planning and Investment Policy Statement tools, and more. 

Secure Financial Document Vault

Most of us have important financial documents scattered across filing cabinets, email inboxes, and cloud storage. FinDash includes a secure Document Vault where you can upload and organize important financial documents alongside the rest of your financial information. Instead of keeping tax returns in one cloud folder, insurance policies in another, and your estate planning documents in a filing cabinet, you can categorize everything in one centralized location. 

As you can see from the image above, FinDash uses bank-level encryption to protect your documents, along with automatic backups and full access control, including permissions. 

Family And Advisor Collaboration

One feature that sets FinDash apart from many personal finance apps is its collaboration tools. You can securely share access (view-only or edit) with family members and professional advisors, such as your accountant, financial advisor, or lawyer. You no longer have to email sensitive documents back and forth, and everyone can work from the same up-to-date information when needed. 

You can invite someone to access your information from the main dashboard. Simply click on the "Share" tab on the right side of the top menu, enter the person's email address, and select your desired access type: Edit or View-Only. 

Are There Any Fees?

As mentioned, FinDash offers a limited, free plan that includes access to the household financial dashboard and organization tools. This makes it easy to explore the platform before making a financial commitment. You can also opt for its Premium plan, which comes with a 14-day free trial period and unlocks unlimited bank connections as well as advanced automation and AI insights.

Here's how the individual plans break down:

How Does FinDash Compare?

A close alternative to FinDash is Origin, another platform designed to help you manage your overall financial life. Both offer account syncing, financial planning tools, document storage, and collaboration features, but Origin also includes access to financial professionals and tax planning services as part of its membership. 

Another strong alternative is Empower, which is widely known for its Personal Dashboard. Its strengths lie in free investment tracking and net worth planning, and it offers advisory services to clients with investable assets over $100,000. However, Empower doesn't offer the same level of document organization or household financial management. 

If you just want to track your portfolio, Empower is hard to beat. But if you're looking for a secure hub where you can organize all of your finances, FinDash has the edge. 

How Do I Open An Account?

Getting started with FinDash only takes a minute or two. You can create an account from the website homepage. Choose the limited free plan, or start a free trial of the Premium plan. Once you've provided your email address, you'll be prompted to set up your financial profile, including connecting your financial accounts.

From there, you can add your household financial information, upload important financial documents, and invite your advisor or trusted family members if you wish to collaborate (this is not mandatory).

Is It Safe And Secure?

Because you can store highly sensitive financial information with FinDash, security is understandably crucial. The platform uses encrypted cloud infrastructure to protect customer data and provides secure authentication for account access. Note that while FinDash doesn't actually hold your money or investments, you should still use a very strong password and enable multi-factor authentication whenever it's available. 

How Do I Contact FinDash?

If you need help, FinDash has a thorough Help Center on its website, including support articles, helpful documents, and video walkthroughs. If you need further assistance, you can send a message via an online contact form, and a member of the FinDash team will respond to your request. 

Is It Worth It?

FinDash is an excellent option for people who want a single place to organize their financial life, beyond just their bank accounts or investments. If you like the idea of having a secure digital hub that you can share with your spouse, financial advisor, accountant, or lawyer, then FinDash has more to offer than many similar apps.

That said, it may not be necessary for everyone. If your primary goal is just to track your investments and net worth, Empower's Personal Dashboard is a fantastic free option. If you're looking for a platform that includes access to financial professionals, investment management, and tax planning, Origin may offer more value for the money. Ultimately, FinDash is a solid choice for households that want to stay organized and collaborate. 

Check out FinDash here >>

Student loan refinance rates have held continued to hold as the Fed has held interest rates steady. As of August 6, 2026, student loan refinance lenders are offering fixed rates as low as 3.95% APR and variable rates starting as low as 3.62% APR, depending on credit profile, loan type, income, and repayment term.

Credible is offering both the lowest variable rate loans starting at 3.62% APR and Earnest and Credible are tied for the lowest fixed rate loans starting at 3.95% APR.

For borrowers with private student loans especially, refinancing to lower your interest rate can save you thousands of dollars over the life of the loan.

💰 Today's Best Student Loan Refinance Rates At a Glance

Here are the best student loan refinance rates today:

1. Credible - Credible is a marketplace of student loan lenders that has some options you may not be able to find anywhere else. You can also get up to a $1,000 gift card bonus if you refinance through their platform. You can get variable rates as low as 3.62% APR. Read our full Credible review.

2. Earnest - Earnest is one of the best known online student loan lenders and they have been offering consistently competitive rates for years. Right now, you can get the lowest fixed rate APR at 3.95%. Read our full Earnest student loans review.

3. ELFI - ELFI is one of the oldest student loan lenders, and offers competitive rates, along with a bonus offer of up to $599 if you refinance a student loan with them. You can get rates as low as 4.29% APR. Read our full ELFI Student Loans Review.

4. LendKey - LendKey is a private lender that pools money from community banks and credit unions to offer lower rate student loans. They are also offering up to a $750 bonus if you refinance a student loan. You can get rates as low as 3.98% APR. Read our full LendKey review.

5. Splash - Splash is a student loan marketplace as well that offers some lenders that Credible doesn't.They have a fixed rate offer starting at 3.99% APR. Furthermore, you can up to a $500 bonus if you refinance with Splash. Read our full Splash Student Loans review.

You can find a full list of the best student loan refinance lenders here >>

Why Should You Refinance Your Student Loan?

Refinancing replaces one or more existing loans with a new private loan — ideally at a lower interest rate.

Borrowers typically refinance to:

• Reduce their monthly payments
• Lower their overall interest cost
• Combine multiple loans into one
• Shorten or extend repayment terms

Refinancing can make sense for private loan borrowers or federal borrowers who no longer need federal benefits such as income-driven repayment or forgiveness. Remember, refinancing a federal loan will cause you to lose federal benefits like student loan forgiveness!

For example, refinancing a $60,000 loan from 7.50% to 5.50% over 10 years saves roughly $7,000 in interest.

Fixed vs. Variable Rates: Which Should You Choose?

There's a lot of uncertainty that borrowers don't like with variable rates, which can make sense, but in a declining rate environment, it also opens the potential for future savings. Here's what to know:

• Fixed rates stay the same for the life of the loan, offering predictable monthly payments. They’re better for borrowers who plan to repay over many years.
• Variable rates can change with market conditions, starting lower but carrying risk if the Fed raises rates again. They can make sense for borrowers who expect to pay off loans quickly.

Most private lenders allow you to check rates without affecting your credit score. Always compare both options before signing.

What To Know Before Refinancing

Before refinancing your student loans, make sure you understand exactly what you're signing up for.

• Loss of federal benefits: Once refinanced, federal loans are no longer eligible for PSLF, IBR, or other income-driven plans.
• Cosigner options: A creditworthy cosigner can unlock lower rates. Check if the lender offers cosigner release after a set number of on-time payments.
• Term flexibility: Many lenders allow terms from 5 to 20 years; shorter terms usually mean lower rates.
• Autopay discounts: Most lenders offer a 0.25% rate reduction when you enroll in automatic payments.
• Fees: The best refinance lenders charge no origination fees or prepayment penalties.

How We Track And Verify Student Loan Rates

At The College Investor, our editorial team reviews student loan rates daily from more than a dozen major lenders. We verify data using official lender disclosures, regulatory filings, and real-time rate sheets.

We only include lenders offering loans to U.S. citizens and permanent residents. All rates are updated regularly and represent the lowest available APRs with autopay discounts applied.

Our coverage is independent and not influenced by compensation. While we may earn a referral fee when you open a loan through certain links, this never affects our editorial recommendations. Our goal is simple: to help you find the most affordable path to borrow responsibly.

FAQs

Can you refinance federal student loans?

Yes, but doing so converts them into private loans, meaning you’ll lose access to forgiveness and income-driven plans.

How often can you refinance?

There’s no limit - you can refinance multiple times as long as you qualify for better terms.

Does refinancing hurt your credit?

A small, temporary drop in your credit score may occur after the hard inquiry, but steady payments improve your score over time.

Do refinance rates change daily?

Yes, lenders adjust rates frequently based on market conditions and Treasury yields.

Is there a best time to refinance?

The best time is when your credit and income qualify you for significantly better rates than your current loans.