The Education Department says the change could lead to $1 billion in loans being canceled for 72,000 borrowers, all of whom attended for-profit schools.
By Carole Feldman, Associated Press
The long-term drivers of managing the debt are rising interest rates and spending on programs such as Social Security and Medicare.
By Josh Boak, Associated Press
One of the consequences of the chaos of the U.S. Capitol is a distancing of banks and other business from former President Trump. He now faces a delicate and difficult situation with his businesses, debt and taxes. Paul Solman reports.
By Paul Solman, Lee Koromvokis
The Massachusetts senator on Tuesday unveiled a plan she said would make the process of declaring bankruptcy easier and cheaper for many Americans with debts they can’t pay. It also would largely undo a 2005 law that was backed by…
By Will Weissert, Associated Press
As the year comes to a close, we look back at the past decade in the American economy -- the first without a recession since record-keeping began in the 1950s. While unemployment remains at a historic low, wage growth has…
Collectively, Americans owe nearly a trillion dollars of medical debt, and Congress is trying to figure out a policy response. But in the meantime, economics correspondent Paul Solman reports on an unusual non-profit’s effort to relieve the burden of medical…
By Nick Schifrin, Dan Sagalyn
China’s Belt and Road Initiative is the most expensive infrastructure project in history. Chinese companies are constructing roads, pipelines and railroads across the globe. But they are also building China’s influence, and critics in the U.S. and Asia worry Belt…
In a major win for the payday lending industry which gives quick loans at exorbitant interest rates, the Consumer Financial Protection Bureau is proposing changes to regulations that protect borrowers from being trapped in long-term debt. Ken Sweet, Associated Press’…
By Marcy Gordon, Associated Press
American corporations have elevated their debt loads to potentially risky levels, the Federal Reserve said Wednesday in a report that raised concerns about the financial system 10 years after the 2008 crisis erupted.
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