(source: en.wikipedia.org)
Americans between the ages of 19 and 29 ended 2018 collectively owing more than $1 trillion in debt, the highest level for young adults since the end of 2007. According to a report in Bloomberg, citing the New York Federal Reserve Consumer Credit Panel, student...
Although the nation’s debt is on the rise, some economists are saying the unexpected: the U.S. shouldn’t be that concerned about it. According to The Wall Street Journal, annual deficits will rise above $1 trillion starting in 2022, while the Congressional Budget Office has predicted that...
Taking it to the limit, indeed. News came this week that global debt – that which is shouldered by governments and the private sector – is several hundred percentage points of the GDP. News also has come in the past few weeks that, as evidenced by...
The partial government shutdown, which is now in its fourth week with no sign of ending, is helping out at least two industries: pawn shops and payday lenders. The Financial Times reported that pawnshop chains and payday lenders are seeing a huge jump in their business thanks...
Student loan debt in the U.S. has set a new record, hitting $1.465 trillion in November, according to a new analysis by Bloomberg. According to Bloomberg’s analysis of student loan securitization data, the debt level is more than double the $675 billion in student loan...
The willingness to take on debt and open wallets, at least here, remains unabated. In the United States, consumer debt gained at its headiest pace in October, as noted by Bloomberg, and is showing an increased appetite, of course, for borrowings. The total borrowings were...
Student loan debt is among the heaviest financial burdens to shoulder. Gradifi CEO David Chang tells PYMNTS that student loan repayments and refinancing - offered as an employee benefit, done automatically and with a range of options -- can help cement the bond between young...
LendingTree said in its debt report for the month of November that based on recent holiday shopping and credit card spending, credit card balances will swell by about 5 percent through the end of the year to more than $1 trillion. That would mean that...
Capital One Financial and Discover Financial Services, two of the largest credit card issuers in the country, are tightening lending standards, which is reportedly an unusual move in an economy that is booming. According to a report in The Wall Street Journal, both Capital One...