• Michael Shvo and partners purchased three Miami Beach hotels in 2019.
• Plans to turn them into a luxury destination were never finished, and the site remains empty.
• A new buyer is lined up, but Shvo could still match the roughly $275 million offer.

The Raleigh, a prominent condo and hotel project along the glitzy Miami Beach waterfront, could soon change hands after six years of stalled development.

Two people with direct knowledge of sales discussions said Nahla Capital, a New York City-based residential builder, has won a bidding process to purchase the property. One of those people said Nahla agreed to pay around $275 million for the project.

They requested anonymity because the sales discussions are confidential.

Real estate developer Michael Shvo, who acquired in the Art Deco district of Miami Beach in 2019 for roughly $243 million, is attempting to match Nahla's offer and retain control of the project, the two people said. They cited a provision that gives Shvo a first right of refusal on bids. To proceed, he would have to raise fresh capital to pay off his partners in the project and also potentially arrange new debt or extend his current loan.

The Raleigh development consists of three adjacent hotels in the Art Deco district of Miami Beach: the Richmond, the South Seas, and the 80-year-old namesake property, the Raleigh.

Among Shvo's chief financial backers was Bayerische Versorgungskammer, a large German pension system known as BVK that has invested in several US real estate deals with Shvo.

"BVK generally does not comment on market rumors and speculation about transactions," a BVK spokesman wrote in an emailed statement.

A deal could herald a new chapter for the project, which for years has consisted of little more than the derelict remains of the three hotels and a vacant dirt lot.

Shvo has said he would restore and redevelop the hotel properties, build an exclusive beach club and restaurant abutting a famous historic pool at the site, and raise a new ultra-high-end condo tower designed by the star architect Peter Marino.

But aside from preliminary site work, including demolition of existing structures, the development never got off the ground. In January, a team from the commercial real estate brokerage and services firm Newmark was hired by an undisclosed partner in the project to shop it to interested takers, as Business Insider has previously reported.

Helping to push a sale is the project's $190 million of debt, which was due to expire on July 16. BH3, the Miami-based commercial lender and developer that provided the loan, recently agreed to a three-month extension to allow the Nahla, or Shvo, to arrange an acquisition, one of the people with knowledge of the deal said.

Holding the property has saddled the current owners with considerable costs. As Business Insider previously reported, the group paid nearly $20 million in interest on the project's loan in 2023 alone and millions of dollars more in taxes, insurance, and other charges.

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• The New York Fed analyzed the mid-career wages of college graduates with a bachelor's degree.
• Graduates aged 35 to 45 in 19 areas of study had a median wage of at least $100,000 a year. 
• Ten of those 19 college majors were related to engineering.

When undergraduate college students choose their majors, there can be several factors that go into their decisions.

But if maximizing one's future earnings is high on their priority list, some areas of study have a better track record than others.

A New York Fed analysis of 2023 American Community Survey data found that college graduates who majored in one of 19 areas of study had a median mid-career wage of at least $100,000 a year. The New York Fed defined mid-career as people between the ages of 35 and 45. The analysis of 73 majors and groups of study only included people with a bachelor's degree — no additional graduate school education — and used what's noted as people's first major.

One general area of study accounted for 10 of the 19 spots: engineering.

Aerospace engineering majors had the top median mid-career wage of $125,000, per the analysis. Three other engineering fields followed behind — computer, chemical, and electrical.

Jaison Abel, the head of microeconomics at the New York Fed, told Business Insider that engineering is a great example of the type of college major that has the quantitative skills businesses tend to want.

"There is a bit of a premium on the demand side, and also these are relatively challenging majors to get through," Abel said. "When you've got quite a bit of demand for the skills and not as much supply of the types of people who are coming in, that's going to make wages overall go up and be high."

Computer science, economics, and finance were the three non-engineering majors with the highest mid-career median wages. Across all the majors analyzed, the median mid-career wage was $83,000 a year.

While the prospect of high mid-career earnings is likely attractive to many students, this appeal hinges on actually landing a job in their field of study — a feat that has become increasingly difficult for some college graduates.

A New York Fed analysis of unemployment data showed 5.8% of recent college graduates in the labor force between the ages of 22 and 27 were unemployed in March, up from 3.9% in October 2022. Absent the pandemic-related spike and its recovery over the next year, that's the highest rate since 2013.

Student loans and the cost of college may affect how a degree is valued

As college tuition rates have risen in recent decades, many Americans have taken on a considerable amount of student debt. In 2024 dollars, the average price for tuition and fees at private nonprofit, four-year schools has increased 30% from the 2004-05 academic year to $43,350 for the 2024-25 academic year. Public, four-year in-state schools are much cheaper, but their average cost has also climbed during that timeframe. Housing and food expenses make the cost of school even higher.

The average American consumer with student loans had a debt balance of about $35,000 as of the third quarter of last year, per Experian data. That's a decline from the average in the third quarter of 2023.

This changing landscape has caused some people to question whether college is a worthwhile investment. In response to these concerns, some high school graduates have gone straight to the workforce, while others have opted for alternative paths, like community college or trade schools.

Not all job openings require someone to have a particular level of education. However, sometimes a college degree is preferred for a job seeker. Automaker Stellantis said in a previous statement that "most non-bargaining unit positions (salaried) require an associate's or bachelor's degree," but also noted that "for some positions, a degree might be a preferred qualification which would open those up to people who can demonstrate proficiency in other ways."

College graduates who majored in early childhood education had the lowest median mid-career wage, at $49,000 a year. Other types of education majors had relatively low mid-career median wages, such as secondary education.

A personal loan can be a helpful way to cover a big expense, consolidate debt, or handle an emergency. But most borrowers don't realize just how much the laundry list of fees can change the actual cost of their loan.

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And as someone who's written about personal finance for years -- and is now looking into a personal loan himself -- I can't emphasize the importance of reading the fine print enough.

Here are the biggest traps to watch for before you sign on the dotted line.

Origination fees eat into your loan amount

The biggest and most important fee you'll see on your personal loan is an origination fee, which is typically taken out of your loan before you even receive the money.

Origination fees usually range from 1% to 10% of the total loan amount, depending on factors like your credit score and the amount of your loan. That means if you take out a loan for $10,000, for example, you may actually get as little as $9,000 -- but you'll still have to repay the full $10,000, plus interest.

For this reason, you'll want to check how much you'll actually get from your loan after the origination fee. If you need a specific amount of cash, you may have to borrow more than expected to cover it.

Ready to calculate how much you'll need? Check out our list of the best personal loans to save on fees today.

Hidden fees can add a lot to your loan

The interest rate you're shown on your loan -- also called the annual percentage rate, or APR -- is supposed to reflect the true cost of the loan, including most fees. But in practice, lenders don't always make every charge easy to spot.

Lenders often tack on extra fees for things like processing or application charges, late payments, returned checks, or early payoff penalties. Yes, you read that right: Lenders will actually make you pay more for repaying your loan early, because charging interest is how they make money.

Altogether, these fees can quietly add as much as 10% to the cost of your loan. Make sure to read through all of the loan terms and ask for a full breakdown of every potential fee before agreeing to anything.

Look out for other potential pitfalls

Lenders are required to give you full loan terms in writing, but it's up to you to read them. Watch for things like variable interest rates that may increase over time, as well as mandatory insurance or other add-ons that increase your monthly payment.

Autopay setups are common, too, and can be convenient -- but they can also be risky if you forget to account for them in your budget, leading to potential overdraft or late fees.

If anything doesn't make sense, ask. A good lender will explain everything in plain English.

Looking for a lender you can trust? Check out this list of our favorite personal loan lenders.

Avoid "guaranteed approval" and upfront payments

Some online lenders or loan "brokers" advertise guaranteed approval or ask for an upfront payment before you get your loan. These are major warning signs.

Legit lenders will never ask you to pay before you receive your funds. And no one can guarantee approval without checking your income and credit.

If you're ever unsure, you can check if the lender is registered in your state or search for complaints through the Consumer Financial Protection Bureau (CFPB) or Better Business Bureau (BBB).

How to protect yourself

Here are a few beginner-friendly tips before taking out a personal loan:

• Compare at least three lenders side by side
• Read the full disclosure and fee breakdown on each
• Use a loan calculator to see your true repayment cost
• Check reviews and ratings from trusted sources

And if the terms seem too good to be true, trust your gut. The best personal loans are transparent, affordable, and clear about what you're getting into.

By watching for fees, reading the fine print, and avoiding shady lenders, you can borrow safely while staying in control of your finances.

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Trump's new proposal includes tax cuts, student loan reforms, and stricter rules for Medicaid and SNAP. Here's what the four biggest changes could mean for you.

• The "Big Beautiful Bill" is headed to President Donald Trump's desk.
• It includes a repeal of student loan forgiveness and an increased child tax credit.
• It also includes new "Trump accounts" and changes to Medicaid and SNAP.

From taxes to student loan forgiveness, provisions in President Donald Trump's "Big Beautiful Bill" will soon be impacting Americans' wallets.

On Thursday, the House passed the final version of the bill, which would extend the president's 2017 tax cuts and make key changes to the tax system, along with implementing significant changes to Medicaid and the Supplemental Nutrition Assistance Program.

Beyond the effects on Americans' wallets, the legislation provides roughly $150 billion to ramp up immigration enforcement.

The bill first passed the House in May before undergoing changes in the Senate, where it narrowly passed on Tuesday. Trump could sign the bill into law as soon as Friday, July 4.

The nonpartisan Congressional Budget Office said the bill would add at least $3.3 trillion to the US deficit. In May, Moody's Analytics downgraded the US's credit rating last week, citing rising federal debt. It said an extension of Trump's 2017 taxes could add $4 trillion to the deficit over the next decade. This could lead to higher interest rates on mortgages, auto loans, and more down the road.

Here are four other key ways the tax bill could affect Americans' finances.

A slew of tax policies

Many of Trump's campaign promises are included in the tax bill.

The legislation would eliminate taxes on tips and overtime wages. About two-thirds of tipped workers earn enough to owe federal income tax. After a final bill is signed, the Trump administration will release a list of qualifying occupations.

The Senate bill includes a $6,000 tax deduction for older people making less than $75,000 a year ($150,000 for couples). Seniors making above that threshold would see a decreasing deduction until hitting a cap of $175,000 ($250,000 for couples.) Lower-income seniors likely won't benefit from the deduction. The provision is how lawmakers are trying to fulfill Trump's promise to end taxes on Social Security payments. The deduction would run through 2028.

Another provision would permanently raise the child tax credit to $2,200. Additionally, it would eliminate electric vehicle tax credits after September. It also proposes ending tax credits for homeowners to install solar panels or energy-efficient heat pumps and incentives for new energy-efficient homes and home weatherization projects by the end of this year.

The bill would also make Trump's 2017 tax cuts permanent and increase the state and local tax deduction, known as SALT, from $10,000 to $40,000 in 2025, $40,400 in 2026, and increase an additional 1% every year through 2029 before reverting to $10,000 in 2030. Lifting the SALT cap allows wealthy taxpayers in states and cities with high taxes to claim a bigger federal deduction, and the cap is something some Republican lawmakers have sought to raise or eliminate.

Student loan forgiveness repealed

Under the Senate bill, millions of student loan borrowers would see their repayment options change. The legislation proposes eliminating existing income-driven repayment plans and replacing them with two options: the Repayment Assistance Plan and a standard repayment plan.

The Repayment Assistance Plan would allow for loan forgiveness after 360 qualifying payments based on the borrowers' income, while the standard repayment plan would require a fixed monthly payment over a period set by the servicer.

The bill also would repeal former President Joe Biden's SAVE plan, an income-driven repayment plan that promised cheaper monthly payments and a shorter timeline for debt relief. The plan is blocked in court pending a final legal decision.

'Trump accounts'

If the bill passes, parents could get extra money for their kids down the line. The tax bill includes a "Trump account," previously called a "money account for growth and advancement," or MAGA account. The government would put $1,000 into accounts for babies born after December 31, 2024, and before January 1, 2029. The baby would be required to have been born in the US and have a Social Security number to receive the cash. The money would need to be invested in a qualified index fund and can't be touched until the child turns 18. Parents and others could contribute up to $5,000 a year to each account.

The accounts would have tax incentives; earnings would be tax-deferred, meaning taxes on the accounts would not need to be paid right away. Withdrawals from the accounts would also be taxed at the long-term capital-gains rate, which is dependent on income and typically lower than the regular income tax rate.

Work requirements for Medicaid and SNAP

Lower-income Americans could face bigger healthcare costs or lose federal assistance benefits. The tax bill would mean significant changes for the millions who rely on Medicaid and SNAP. The legislation would mandate that states implement an 80-hour-a-month work requirement by the end of 2026 for childless adults on Medicaid without a disability.

The Congressional Budget Office previously estimated that work requirements on Medicaid could strip coverage from over 8 million Americans over the next decade.

Additionally, the bill would extend the age range of adults subject to work requirements to receive SNAP to include adults ages 55 to 64. Currently, adults ages 18 to 54 without children can receive SNAP benefits only if they work at least 20 hours a week.

I've covered personal finance for years, and lately I've noticed more savvy borrowers skipping balance transfer credit cards and choosing personal loans instead to tackle credit card debt.

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It comes down to getting more control, locking in predictability, and sometimes saving more money in the long run.

If you're trying to decide between these two debt payoff options and the reasons below make good sense to you, then a personal loan might be the right solution for you, too.

1. Lower rates without the promo deadline stress

Balance transfer credit cards lure people in with 0% intro APR offers. If you can pay off your balance within the promotional window -- often 12 to 21 months -- you can save a lot on interest. But if you don't pay it off in time, you could get hit with a much higher rate when the promo ends.

Personal loans can give you a competitive fixed rate that doesn't expire, especially if your credit is solid. This means you know exactly what your payment will be each month until the debt is gone, with no surprises.

Thinking about a personal loan? Many top lenders let you check your rate with no impact on your credit, so you can compare side-by-side with balance transfer offers.

2. A clear payoff date you can actually plan around

One of the biggest challenges with credit card debt is that it's open-ended. Even with a balance transfer card, it can be tempting to continue using the card or rolling your debt to a new promo when the old one ends, which drags out your payoff timeline.

A personal loan comes with a clear repayment schedule -- typically two to five years -- and a set monthly payment. You can circle the date your debt will be gone on your calendar and build your budget around it. That structure can help you stay on track and avoid carrying debt year after year.

If you've struggled to pay down your credit cards or you're tired of juggling due dates, the simplicity of a personal loan might give you the mental breathing room you need. Many top lenders let you check your rate with no impact on your credit, so you can compare side-by-side with balance transfer offers. Visit our best personal loans page now.

3. Flexibility to tackle more than just credit card debt

Balance transfer cards are limited to credit card debt, but personal loans can help you consolidate multiple types of high-interest debt. If you have medical bills, payday loans, or even personal expenses you put on high-rate credit cards, a personal loan can combine them into one payment at a potentially lower rate.

This can help you streamline your monthly bills while working toward becoming debt-free. You won't need to juggle multiple due dates or worry about missing a payment on one of your cards, and the consistency can help you build momentum on your financial goals.

Ready to see if you qualify for a personal loan? It generally only takes a few minutes to check your potential rate online, and it could save you money compared to sticking with credit cards. Start by checking out our best personal loans page now.

Why it might be worth comparing your options now

If you're carrying high-interest credit card debt, you have options -- and exploring them now could put you in a stronger financial position for the rest of the year.

Balance transfer cards can be a great tool if you're confident you can pay off your debt before the promo ends, but they're not your only option. A personal loan could give you a lower fixed rate, a predictable payment schedule, and a clear debt-free finish line.

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.