Interest rates have exploded over the past several months, threatening to raise dramatically the cost of servicing the federal debt and accelerate a fiscal reckoning. Yields on 10-year Treasury securities soared to above 3.8% as of Friday evening, up from about 1.5% at the start of the year and the […]
Loans
States move to ban high-interest loans at pet shops
Millie Hill said it was love at first sight as her husband of 50 years held a pint-size Chihuahua puppy at a Puppyland pet store last summer. Howard Hill, 95 and dealing with vascular dementia, was worried about how quiet their home in Kent, Wash., might become when their aging […]
How to apply for student loan forgiveness
Note: This article will be updated when the application becomes available in early October. The Biden administration proposed to cancel all undergraduate federal student debt on the campaign trail in 2020. Now, in October 2022, it has partly delivered on that promise. Around 40 million Americans with middle-to-lower income are […]
Lawsuit Aims To Block Biden From Forgiving Student Loans
Topline An Indiana attorney from a conservative law firm sued the Biden Administration in federal court Tuesday, asking a judge to block the government’s policy of forgiving up to $20,000 per person in student loans days before it starts taking effect in October. President Joe Biden, joined by Education Secretary […]
What legal challenge to student loan forgiveness means for borrowers
Porquenostudios | Istock | Getty Images A lawyer working for a conservative legal group this week brought the first legal challenge to President Joe Biden’s sweeping plan to cancel up to $20,000 in student debt for millions of Americans. “Nothing about loan cancellation is lawful or appropriate,” Frank Garrison, an […]
Probability Of Default Is Rising For High Yield Bonds And Leveraged Loans
Rising probability of default is a significant problem for a country practically at record highs of … [+] corporate indebtedness. Getty In another sign that the U.S. economy is headed for a rough landing, leveraged loans’ and high yield bonds’ probability of default and actual defaults continue to rise. Market […]