Currently, the total outstanding federal student loan debt is $1.7 trillion.
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As federal student loan debt continues to rise, a number of scholars discuss how debt affects the nation’s college students, graduates and the economy as a whole.
Already the Biden administration has forgiven nearly $3 billion of student loan debt from 113,000 borrowers.
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Student loan debt has long been considered a drag on the economy. But will canceling it actually do much to spur spending? An economist weighs in.
People visit fruit section of a grocery store on Guadeloupe, an island group in the southern Caribbean Sea.
Debt relief would improve Caribbean states’ response to global crises.
Recent college graduates owed an average of nearly $30,000 in student loans in 2019.
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Student loan debt can affect not only the financial health of recent grads but also their mental and emotional health. Three scholars weigh in on the greater costs student loans can have on borrowers.
Do young people pose a threat to their future freedom by taking on too much debt?
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Young people might take on a lot of debt without considering its consequences for their older years. A philosopher makes a case for laws to limit that debt as a duty toward self.
South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by COVID-19.
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The IMF loan does not impose any conditions over and above what is in South African law on how the funds can be used; it only seems to expect the country to implement policies already announced.
Bangladeshi garment workers protest to demand payment of wages, April 2020.
When the Nobel Peace Prize was awarded to Bangladeshi economist Muhammad Yunus in 2006 for his concept of microfinance, it brought what began as a local policy experiment in the 1970s to global attention…
COVID-19 public health measures are stalling economic activity.
Governments worldwide have put in place economic and tax relief measures to mitigate the impact on businesses and workers of drastic public health measures in response to the COVID-19 pandemic
High street pawnbrokers are closing, which means less options for financial help.
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The closure of high street pawnbrokers like Albermarle and Bond might leave many without financial help.
Credit cards sometimes charge exceptionally high interest rates.
The lawmakers have proposed capping interest rates on consumer loans at 15%, but doing so may hurt some of the people it’s aiming to protect.
Does a few more trillion make a difference?
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Although US debt may be at eye-popping levels, an economist explains why it shouldn’t keep you up at night.
What the ‘credit’ in Universal Credit actually means.
The concept of Universal Credit reveals something wider about the UK’s current political fixation on debt.
The women elected to the 2019 congress pose for a photo.
After a year of headlines and ousted CEOs, Congress has yet to pass a single piece of legislation on sexual harassment – let alone hold a hearing. That may change as lawmakers get to work in 2019.
Research suggests that women enterprises in Tanzania are shy to take up business loans.
Women-owned small business in Tanzania stay away from formal loans because of their negative beliefs about loans.
Kenya’s debt levels are rising at an alarming rate.
Kenya’s heavy debt burden is worrisome and could damage its economy in the long-term.
It’s all about money.
Most people agree that children should be taught to manage money — but who decides what they learn, and who is responsible for teaching them?
South African Reserve Bank Governor, Lesetja Kganyago, is expected to push the agenda of developing countries inside the IMF.
The governor of South Africa’s Reserve Bank has been appointed to chair an important IMF committee. Countries in sub-Saharan Africa stand to benefit.
Give a man the means to borrow, so the argument goes, and he can work himself out of poverty. But do microfinances’ claims stand up?
Small loans from governments and philanthropists are often held up as a route out of poverty. But proper research into whether they work is thin on the ground.
B.C.‘s ambitious new school curriculum includes mandatory financial literacy instruction within math courses at every grade level, starting from kindergarten.
Financial literacy is non-intuitive to the human brain and fundamental to survival today. We should follow British Columbia’s example and make financial literacy mandatory in every grade - across the country.
IMF Managing Director Christine Lagarde at the “G20: Compact With Africa”.
South Africa will be well advised to start preparing itself for an International Monetary Fund programme as the country faces a deepening economic crisis.