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.
Student loan payments are resuming soon — be ready
Federal student loan payments and interest accrual are set to resume soon after a three-year pause. Here's what America's 40 million-plus student loan borrowers need to know.
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.
Housing market could tumble into a ‘deep freeze’ if US defaults on its debt
The U.S. housing market could tumble into a deep freeze if Congress fails to raise the debt ceiling by June 1 and defaults on its financial obligations.
Credit card debt set to hit $1T as chronic inflation crushes Americans
Federal Reserve data released Monday is expected to show that U.S. households are carrying $1 trillion in credit card debt, the highest level on record.
Schumer directs Democrats to ensure voters are frightened of a debt default
Senate Majority Leader Chuck Schumer is directing his Democratic caucus to alarm constituents with the claim that a debt default could cause a massive recession and unemployment.
What is the debt ceiling, and what does it mean for you?
The U.S. government could default on its federal debt by June 1, threatening to trigger a deep recession and halt payments for millions of U.S. households.
Debt ceiling showdown risks triggering ‘self-inflicted’ recession
The U.S. government could default on its federal debt as soon as June 1, putting the economy on the fast track for a "self-inflicted" and "deep" recession.