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Educational News

As student loan forgiveness nears $160 billion, here’s what to know about the relief programs

In attempts to fix the country’s $1.6 trillion student loan system, the Biden administration has routinely announced forgiveness of large shares of that debt. In total, the U.S. Department of Education has canceled almost $160 billion in federal student loan debt for nearly…
Government News

Soaring debt and deficits causing worry about threats to the economy and markets

Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington. The federal IOU is now at $34.5 trillion, or about $11 trillion…
Editorial News

Bankruptcies Rise 16 Percent Over Previous Year

Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy cases remain significantly lower than before the start of…
Bankruptcy News

Americans are falling behind on their payments

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.New YorkCNN —  America’s relentless…
Legal News

Apparel retailer Express files for US bankruptcy protection, to close over 100 stores

April 22 (Reuters) – Fashion retailer Express Inc (EXPR.PK), opens new tab has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as…
Educational News

Biden plans to cancel student loan debt, 23 million Americans may be impacted

MADISON, Wisconsin, April 8 (Reuters) – President Joe Biden announced on Monday plans to ease student debt that would benefit at least 23 million Americans, addressing a key issue for young voters whose support he needs as he seeks re-election in November. The…
Government News

America’s debt problem is storing up trouble for the rest of the world

LondonCNN —  The high and rising level of US government debt risks driving up borrowing costs around the world and undermining global financial stability, the International Monetary Fund has warned. The IMF said Wednesday that increased government spending, growing public debt and elevated interest rates…
Editorial News

A Million Simulations, One Verdict for US Economy: Debt Danger Ahead

Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97%…
Bankruptcy News

Here’s how much credit card debt the average American has (and how to pay it off)

The current high interest rate environment is putting a strain on many Americans’ finances. After years of keeping rates near zero to stimulate the economy during the pandemic, the Federal Reserve aggressively increased rates starting in early 2022 to cool stubbornly high inflation.…
Legal News

US single-family housing starts, permits fall in April

WASHINGTON, May 16 (Reuters) – U.S. single-family homebuilding and permits fell in April amid a resurgence in mortgage rates, but new construction remains supported by an acute shortage of houses for sale. Single-family housing starts, which account for the bulk…