The Biden Administration has unveiled a student loan repayment initiative that is set to benefit over 20 million borrowers. The Saving on a Valuable Education (SAVE) plan introduces an income-driven repayment (IDR) model that calculates monthly payments based on a borrower’s income and family size,...
The retailer’s strategy of appealing to millennials may be backfiring as the generation prepares to lose spending power to student loan repayments. Once again, consumer sentiments’ seeming ability to motivate spending behavior was evidenced Wednesday (Aug. 16) as Target’s Q2 2023 earnings release met analysts’...
Amid the current cost of living crisis in the United Kingdom, some commercial lenders have joined forces with the British government to offer interest-free loans to high-risk borrowers. The government is funneling 45 million pounds ($57 million) from its Dormant Assets Scheme — previously set...
With change comes challenge, but with challenge comes opportunity. As 2023 marches on, much of the initial doom and gloom-fueled skepticism around how the year would play out has abated, and there is hope on the horizon. “The one big thing we are talking about...
It’s reportedly a good time to be a “shadow bank” in India. These nonbanks are seeing a flood of investor money amid rising credit demand by consumers, the Financial Times (FT) reported Monday (Aug. 7). For example, Bain Capital last month bought a majority stake...
Roughly 300,000 student loan borrowers have died since the federal government’s 2020 loan moratorium. And according to a report Monday (Aug. 7) by Bloomberg News, that means the government will have to write off billions in those borrowers’ loans. The report says experts argue that 300,000 figure...
The rules of the road are changing. The fleet and mobility sector finds itself at the forefront of the winds of this transformation. The rise of electric vehicles (EVs), sustainability concerns and the emergence of mobility platforms that make it easier for drivers and riders...
Banks are continuing to tighten their terms on commercial and industrial loans. The proportion of U.S. banks tightening their terms on such loans for medium and large businesses rose to 50.8% in the second quarter, up from 46% in the first quarter, Bloomberg reported Monday (July 31),...
When it comes to student loans, it’s been three-plus years of paused repayment, a span in which many consumers have seen their financial lifestyle upended due to macroeconomic factors such as inflation, rising interest rates and mass layoffs. Given these headwinds, some simply may not...
