Americans have continued spending despite dwindling savings and inflation. But retailers worry resuming loan payments could push some over the edge.
Category: Student Loans
-
Bharat Ramamurti, a Senior Biden Aide Who Helped Shape Economic Agenda, Is Leaving
Bharat Ramamurti supported the president’s competition agenda and pushed the administration to do more for student borrowers and salaried workers
-
What Happened When I Stopped Paying My Private Student Loans
One borrower’s story about falling behind on payments, defaulting on his private student loans and waiting out the statute of limitations on debt collection.
-
U.S. Consumers Are Showing Signs of Stress, Retailers Say
Consumer spending remains resilient, but retailers’ latest earnings offered a glimpse into worrying shifts in shopping habits.
-
What to Know About the New Student Loan Repayment Plan
The Biden administration’s new income-driven repayment plan, SAVE, will reduce payments for millions of borrowers and more will qualify for $0 payments.
-
Credit Card Debt Hits New Peak as Some Borrowers Face Financial Strain
Debt rose to more than $1 trillion in the second quarter, a report found — a sign of financial strain for some, even before student loan payments resume.
-
As Student Loan Payments Resume, Gen X Struggles to Save for Old Age
The end of the payment pause means Americans in this age group will once again have to juggle paying off debt while trying to save for older age.
-
Discharging Student Loans in Bankruptcy Show Mixed Results
Last year, the Biden administration provided a new path to make it easier to discharge student loans in bankruptcy. The results appear promising, but success has been limited.
-
What Higher Interest Rates Mean for Mortgages, Credit Cards and More
Savers benefit from higher rates, but borrowers have faced bigger bills on credit cards, student loans and other forms of debt.
-
As Student Loans Come Due Again, Many Borrowers Lose a Lifeline
The payment pause freed up money that gave people breathing room — or allowed them to help family members in need. They will soon have to budget for that expense.
-
Biden’s New Student Debt Repayment Plan Could Cost $475 Billion
The report estimates that the plan will slash borrowers’ payments and cost more than President Biden’s recently rejected debt cancellation plan.
-
Biden Cancels $39 Billion in Student Loans for 800,000 Borrowers
One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs.