In our weekly Fine Print Alert we call out news from the financial community and shine a spotlight on any sneaky changes in the fine print. We also share our favorite reads from the week.
FINE PRINT ALERT
Ally Gets Straight A’s…
A recent Pew Charitable Trusts study has Ally topping the charts as the friendliest bank for consumers. The study focused on disclosing fees, handling overdrafts and resolving disputes. Of the reviewed banks, Ally was the only one to receive perfect scores in the seven analyzed categories.
MAGNIFYMONEY IN THE NEWS
- American Banker: Big Data Stirs Fresh Debate Over Income-Based Repayment
- Diverse: Report: State Higher Ed Cuts to Widen Degree Gap
FAVORITES FROM AROUND THE WEB
How to Understand that Confusing Financial Aid Letter As it stands, there is no one-size-fits-all financial aid award letter, which can make it tricky to compare more than one school’s cost of attendance to another. The government recently set up a college cost comparison tool to help, but even so, it’s not much help if families have to translate their student award letter into plain English first. Mandi Woodruff breaks down the financial aid letter on Yahoo! Finance.
How the Average Worker Throws Away $1,300 a Year One in four employees missed out on at least part of the match, according to the report. For the average employee, the missed opportunity is equivalent to turning away a check for $1,336 each year. The Washington Post‘s Jonnelle Marte overviews how to ensure your retirement account is reaching its full potential.
This Is How I Paid Off my Student Loans by 25 A few weeks ago I requested my loan payment information from SallieMae so that I could pull the curtain back on exactly how I paid my loans off so quickly. Unfortunately they only provided me the information for my last 50 payments (maybe I didn’t pay enough in interest for my complete payment info?), but it should paint the picture pretty well. The Millennial Money Man shares his debt repayment story on his blog.