The “Buy Now, Pay Later” (BNLP) transaction is simple: Shoppers are offered an installment loan at the point of purchase, spreading the cost of the product across several payments. They’re often available without a credit check. BNLP financing has become a go-to payment method at most major retailers for everything from clothing and cosmetics to…
Most Student-Loan Borrowers Made No Payment During US Freeze
By Alex Tanzi From Bloomberg News A majority of borrowers who together hold about $400 billion in federal student debt made no payment on their loans in the pandemic era, taking full advantage of a freeze put in place at the onset of the COVID-19 crisis. Data from the Federal Reserve show that 60 percent…
Student Loan Forgiveness Unlikely to Boost the Economy
By Don Lee From Los Angeles Times The Biden administration has been considering a plan to cancel at least $10,000 of federal student-loan debt. President Biden promised something of the sort during the 2020 presidential campaign. And with about 45 million current and former students carrying $1.76 trillion in debt, some sort of debt forgiveness is appealing both…
Federal Student Loan Interest Rates Will Increase for the 2022-23 Academic Year
June 15, 2022
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By Hanneh Bareham From Bankrate.com Federal student loan interest rates are set to rise for the 2022-23 academic year, following the U.S. Treasury Department’s 10-year note auction in May. The new rates will be 4.99 percent for undergraduate loans, 6.54 percent for graduate Direct Unsubsidized Loans, and 7.54 percent for PLUS loans. These rates will…
Instead of Panicking, Deal With Your Student Loans Like a CFO Would
By Henri Steenkamp Today’s students and new graduates are saddled with years upon years of student-loan debt. This type of debt can be difficult for anyone to pay back in a timely, responsible manner, even in the best of times. In fact, many professionals well into their careers continue to struggle with balancing the checkbook and…
Will Student Debt Forgiveness Bankrupt the Country?
Commentary When debts become unpayable, then they should be forgiven. This is the opinion of Michael Hudson, a professor of economics at the University of Missouri-Kansas City. Regardless of the context, the idea of debt forgiveness sounds ludicrous to some. To some, sure. But not to all. Last week, President Joe Biden said he was…
Obama, Biden Largely to Blame for $1.6 Trillion Student Debt Crisis: Author
May 4, 2022
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As President Joe Biden considers some form of loan forgiveness for college borrowers, student loans in America have been a slow-boiling crisis for almost a decade now. One expert critic who has been following the crisis lays much of the blame for the $1.6 trillion loan debacle at the feet of two men at the…
Stephen Moore on Stagflation, Student Loan Forgiveness: Biden Admin ‘Doesn’t Seem to Get It’
The Biden administration appears “clueless” when it addresses the ongoing stagnant economic growth and persistent inflation, which could lead to a rerun of the 1970s, said economist and former Reagan advisor Stephen Moore. In an interview with EpochTV’s “Crossroads” program, Moore said the United States is seeing “some signs” of stagflation, which is the combination…
Student Loan Forgiveness, What You Need to Know
May 2, 2022
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After going to college or grad school for years, it is easy to understand why starting life with a tremendous student loan debt can be daunting and is undesirable. For some people, it can take years to pay, and student loan debt can make it difficult to get loans for other things. Obtaining student loan…
Biden Admin Approves $238 Million Loan Cancellation for Former Beauty School Students
The Biden administration said it will discharge a total of $238 million in student loan debt for those who attended a now-defunct beauty school that failed to teach them how to cut hair. The U.S. Department of Education in 2016 stripped the Marinello Schools of Beauty, a for-profit school chain with 56 campuses across the nation,…
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