Summer savings: Students can combat expensive educational costs ahead of school
As a college student, it can be easy to forget about debt and expenses, but this can hurt you later. Follow these steps and financially plan for the future while still in school.
Nearly half of Americans say income is not keeping up with inflation: TransUnion
About half of Americans said income is not keeping up with inflation, a TransUnion survey reported. Plus, debt has reached record levels and the Fed may raise interest rates amid slowing, but high inflation.
New survey sheds light on consumer debt
Credit cards continue to be the primary source of personal debt in America, accounting for more than double any other single source, according to experts.
Interest costs on US national debt to exceed defense spending by 2028
Total interest on the national debt is poised to become the priciest part of the federal budget, outstripping spending on Medicare and Social Security.
Student loan payments set to resume soon regardless of SCOTUS ruling
Federal student loan payments and interest accrual are set to resume soon after a three-year pause regardless of how the Supreme Court rules on President Biden's loan forgiveness plan.
Inflation woes: Nearly half of Americans canceling summer vacations and changing plans
Inflation is pushing many Americans to cut back on summer vacations and leisure activities, according to a recent survey by ScoreSense. Some have also turned to personal loans to cover expenses.
Student loan payment pause led to increased debt for some: study
The student loan payment pause enacted during the COVID-19 pandemic caused many borrowers to collect other forms of debt, according to a study. The president’s plan, which has been criticized by Congress, is under review by the Supreme Court.
States with highest, lowest credit card debt burdens ranked in new report
A report by CreditCards.com found that Mississippi had the highest credit card debt burden in the U.S. when factoring in household income while Massachusetts had the lowest.
Fed warns tighter credit conditions could slow US growth
The Federal Reserve warned in its semi-annual monetary report to Congress that tightening credit conditions could weigh on the U.S. economy this year.
A Fed pause likely won’t help struggling consumers
While investors are optimistic the Federal Reserve will pause interest rates this month, the move is unlikely to bring relief to stretched consumers holding credit card debt and variable rate loans.
Fitch still considering US credit rating downgrade despite debt ceiling deal
Fitch Ratings said Friday that it could still downgrade the U.S. credit rating after the most recent debt-limit debacle between Democrats and Republicans.
Debt ceiling deal suspends student loan payment pause
The most recent debt ceiling deal would end the federal student loan payment pause after Aug. 30. But Biden’s student loan forgiveness plan is still under review by the Supreme Court. Here’s what you need to know.
What the debt ceiling deal could mean for student loan borrowers
Under the student loan deal negotiated by President Biden and House Speaker Kevin McCarthy, the federal student loan payment pause will end in August.
Debt ceiling default would batter housing market: Zillow
If the government fails to raise the debt ceiling, a default on its obligations could trigger a major drop in home sales, an increase in mortgage rates and a recession, according to a forecast by Zillow.
Fitch places US AAA credit rating on negative watch, citing increased political partisanship
Fitch Ratings put the United States' AAA credit rating on negative watch, citing brinksmanship and increased partisanship over raising or suspending debt ceiling.
US debt default could destroy 7 million jobs, analysis shows
If President Biden and Republicans fail to strike a deal to raise the debt ceiling, it could trigger a deep recession that sends unemployment above 8%.
Yellen doubles down on June deadline to avoid US debt default
Treasury Secretary Janet Yellen warned the U.S. could default on its financial obligations by early June, adding to the pressure on Washington negotiators.
Who would be hit the hardest by a US debt default?
Social Security recipients, veterans and would-be homeowners could be heavily impacted if President Biden and Congress fail to raise the debt ceiling.
America's debt hits new record of more than $17 trillion: NY Fed
Consumer debt reached a record of $17.05 trillion in Q1 2023. Many Americans still deal with high inflation and are seeking help from their financial institutions, reports say.
Why Wall Street’s spooked about debt default risk
The chances of the U.S. defaulting on its debt are low, but experts are warning that financial markets and the economy are still facing a wall of worry as lawmakers duke it out.