Credit & Debt

The most recent debt ceiling deal would end the federal student loan payment pause after Aug. 30. But Biden’s student loan forgiveness plan is still under review by the Supreme Court. Here’s what you need to know.

Under the student loan deal negotiated by President Biden and House Speaker Kevin McCarthy, the federal student loan payment pause will end in August.

If the government fails to raise the debt ceiling, a default on its obligations could trigger a major drop in home sales, an increase in mortgage rates and a recession, according to a forecast by Zillow.

Fitch Ratings put the United States' AAA credit rating on negative watch, citing brinksmanship and increased partisanship over raising or suspending debt ceiling.

If President Biden and Republicans fail to strike a deal to raise the debt ceiling, it could trigger a deep recession that sends unemployment above 8%.

Treasury Secretary Janet Yellen warned the U.S. could default on its financial obligations by early June, adding to the pressure on Washington negotiators.

Social Security recipients, veterans and would-be homeowners could be heavily impacted if President Biden and Congress fail to raise the debt ceiling.

Consumer debt reached a record of $17.05 trillion in Q1 2023. Many Americans still deal with high inflation and are seeking help from their financial institutions, reports say.

The chances of the U.S. defaulting on its debt are low, but experts are warning that financial markets and the economy are still facing a wall of worry as lawmakers duke it out.

The U.S. housing market could tumble into a deep freeze if Congress fails to raise the debt ceiling by June 1 and defaults on its financial obligations.

Federal Reserve data released Monday is expected to show that U.S. households are carrying $1 trillion in credit card debt, the highest level on record.

Senate Majority Leader Chuck Schumer is directing his Democratic caucus to alarm constituents with the claim that a debt default could cause a massive recession and unemployment.

The U.S. government could default on its federal debt by June 1, threatening to trigger a deep recession and halt payments for millions of U.S. households.

The U.S. government could default on its federal debt as soon as June 1, putting the economy on the fast track for a "self-inflicted" and "deep" recession.

The U.S. could default on its federal debt as soon as June 1 due to weaker-than-expected tax collection in April, according to a Penn Wharton analysis.

Klarna and Affirm surged in popularity during the pandemic’s online shopping boom, as buyers used them to finance big purchases such as designer bags and daily expenses.

Real estate leaders and economists criticize Biden forcing good-credit borrowers to subsidize risky mortgages as a disaster, "boot on our neck," "punch in the gut" policy.

People with paused federal student loan payments may have to start paying up again. It will depend on how the Supreme Court rules in a pair of cases.

Some key changes were made to the bill overnight on Tuesday after it appeared unlikely to pass in its original form

Rep. Alexandria Ocasio-Cortez claimed working with Republicans on debt ceiling negotiations is like "trying to nail jello to a tree," as Congress works to address federal debt.