The Latest Personal Finance News for April 2026

Federal Tax Deadline Coming Up

For most taxpayers, the deadline for filing their 2025 tax return and paying their tax bill is April 15, 2026. However, there are some exceptions that may apply to you. For example, you may have extra time to file if you reside in a federally declared disaster area.

Why It Matters

It's crucial to file and pay your federal taxes by the IRS deadline each year. Otherwise, you may be on the hook for penalties and interest charges. You can review the IRS disaster relief guidance to find out if you're eligible for an extension.

Note that you can request a six-month extension to file your return even if you don't live in a disaster area. However, if you owe taxes, you'll still need to pay your expected tax bill by the regular April deadline if you want to avoid a failure to pay penalty and interest.

What You Can Do

• Read tips to make your tax filing easier.
• Stay up to date on tax deadlines.
• Learn the various ways to lower your tax bill.
• Read about tax identity theft.

Treasury Department Taking Over Defaulted Federal Student Loans

The U.S. Department of Education and the Department of the Treasury announced a partnership to transfer management of the federal student loan portfolio to the Treasury Department. The federal student loan portfolio currently stands at nearly $1.7 trillion, with fewer than 40% of borrowers in repayment and almost 25% in default.

In the first phase, the Treasury will take over the collection of defaulted loans—roughly $180 billion owed by roughly 9.2 million borrowers. Later phases would expand the Treasury's role to non-defaulted loans and eventually FAFSA administration.

Why It Matters

More than 42 million borrowers hold federal student loans, and the transition starts with those who are most financially vulnerable. Borrowers in default can face wage garnishment of up to 15% of their paychecks and seizure of federal tax refunds and Social Security benefits.

Involuntary collections on defaulted loans are currently on hold, but it's unclear how the shift to the Treasury Department could affect the timeline for restarting them.

The Treasury is also taking over the Default Resolution Group, which has been the point of contact for defaulted borrowers seeking counseling or trying to enroll in rehabilitation programs to get back on track. The transition could create delays for borrowers trying to get back in good standing.

What You Can Do

• Contact your student loan servicer to find out how the transition will affect you.
• Learn more about how federal student loan collection works.
• Understand your options for getting out of default.
• Consider all your options if you can't pay your student loans.

Gas Prices up Nearly 35% in the Past Month

The national average for a gallon of regular gasoline hit $3.98 on March 24, according to AAA, up from $2.95 just one month earlier. The primary driver is a spike in crude oil prices caused by the conflict in the Middle East. The war has severely disrupted tanker traffic through the Strait of Hormuz, a narrow waterway that roughly 20 million barrels per day of crude oil and oil products passed through before the conflict.

To help offset rising prices, the International Energy Agency agreed to release 400 million barrels of oil from member countries' emergency reserves—the largest such release in its history. The U.S. share of that release is 172 million barrels from its strategic reserves over four months.

Why It Matters

Higher gas prices are a direct hit to household budgets, especially for people who commute long distances or drive for a living. The effects extend beyond the pump too. Rising fuel costs push up prices for goods that rely on trucking and shipping, from groceries to building materials.

Where prices go from here depends largely on how long shipping disruptions in the Middle East persist and whether emergency oil reserves provide enough cushion to stabilize the market.

What You Can Do

• Learn the different ways to save on gas.
• Consider downloading a gas app to maximize savings.
• Read about potential savings from a hybrid or electric vehicle.
• Monitor the latest news for gasoline prices.

Mortgage Rates on the Rise Again

The average 30-year fixed-rate mortgage rose to 6.22% for the week ending March 19, up from 6.11% the prior week, according to Freddie Mac. The reversal comes after months of steady improvement. By February, some qualified borrowers were able to secure rates closer to 5%.

Three factors are driving the increase: mixed economic data that has clouded the outlook for Federal Reserve rate cuts, geopolitical tensions pushing uncertainty into the bond market and the Fed's decision to hold rates steady at its most recent meeting.

Markets now see more than a 70% chance the Fed will keep rates unchanged through December.

Why It Matters

For homebuyers, even a modest increase in mortgage rates translates to higher monthly payments and less purchasing power. Someone shopping at the upper end of their budget a month ago may no longer qualify for the same loan amount today.

For current homeowners who were waiting for rates to dip further before refinancing, the window may have narrowed. And with no clear timeline for rate cuts, buyers and refinancers face the question of whether to lock in now or wait, knowing that waiting could mean rates stay flat or climb higher.

What You Can Do

• Stay on top of the current mortgage rates.
• Read up on mortgage rate forecasts for 2026.
• Learn about how mortgage interest works.
• Consider whether now is the right time to buy a house.

April Is Financial Literacy Month

The U.S. Senate officially designated April as Financial Literacy Month with the intent to raise awareness of the importance of smart money management and financial literacy. The following articles can help you improve your own financial literacy:

• What Is Financial Literacy?
• Financial Literacy Month: Try This Credit and Financial Health Checkup
• Why Is Credit Important?
• Ways to Teach Kids About Money

Good Credit Can Contribute to a Healthy Financial Plan

While there are aspects of your financial situation that are outside of your control, building and maintaining a good credit score can help you weather challenges and save money in the long run.

With Experian's free credit monitoring service, you'll get access to your FICO^® Score^Θ and your Experian credit report. With this information in hand, you can gauge your credit health and target areas of your credit profile that you can improve over time. And with real-time alerts whenever your report is updated, you can spot potential issues and fraud and address them quickly.