Credit & Debt

A new report from the Federal Reserve Bank of New York found that higher debt household debt levels with elevated interest rates have created more financial stress for borrowers.

New York Federal Reserve data released Tuesday shows household debt hit a fresh record in the first quarter of 2024 amid a surge in mortgage balances.

Lower-earning Americans are practically begging the government to cut interest rates as they struggle to get out of financial hardship, according to a new report.

Gen Z adults ages 22-24 are taking out more credit lines and racking up more debt than millennials of the same age did a decade ago, and experts are concerned the problem could get worse.

Americans getting help from financial planners will appreciate a new rule that makes sure they're getting sound retirement advice.

Many student loan borrowers struggle to repay their debts, despite more relief from the Biden Administration.

14.5% of borrowers use personal loans for everyday expenses as everyday costs grow.

More and more Americans, particularly younger Americans, rely on side hustles to pay their bills.

According to the Wharton School of the University of Pennsylvania, taxpayers have to pay over $500 billion to afford President Biden's student loan handouts.

The White House on Friday will announce it is canceling an additional $7.4 billion in student loan debt for 277,000 borrowers.

Students dealing with high student loan debt want government support, no matter their political affiliation.

The U.S. is on an "unsustainable" course with regard to its debt-to-GDP ratio, which is expected to hit 123% in 2024, according to a million simulations.

Instead of calculating student loan payments using 10% of a borrower's income, they'll be calculated using 5% of a borrower's income starting in July.

Consumers paid over $1 trillion in interest payments, most of which when toward high-interest credit card debt.

Missed payments and high levels of inflation has led to lower credit scores for consumers.

States with higher populations and more borrowers saw the largest amount of student loan forgiveness.

Both high-income and low-income consumers are facing higher levels of debts, causing more people to live paycheck-to-paycheck.

While the White House lectures on the strength of the economy, Americans are drowning in credit-card debt, which hit a record high $1.13 trillion by the end of last year.

A new survey found most Americans admitted they had to make sacrifices to cover monthly expenses last year, and the most common tactic was resorting to credit cards.

Credit card balances surged in the fourth quarter, but new card originations slowed as banks tightened lending standards, according to a recent TransUnion report.