Student loan startups are seeing tailwinds of new investment and new customers as the U.S. faces a continued student loan debt crisis. Subscribe to the Crunchbase Daily The Federal Reserve estimates $1.7 trillion in U.S. student loan debt. Students, on average, graduate with $29,000 of private and federal loan debt and default on their loans…
The Education Department (ED) is halting interest and debt collection on about 1.14 million defaulted loans in the Federal Family Education Loan Program (FFELP). At a time when many student loan borrowers have faced economic uncertainty, were ensuring that relief already provided to borrowers of loans held by the Department is available to more borrowers…
Big Cheese Photo / Getty Images If you’re lost in a mire of debt, a credit counselor can help. There are many routes to debt problems. You may have lost your job and been swamped with bills, or you may be stuck with credit card balances that aren’t going down. Perhaps you want to tackle…
Though significant steps have been taken to preventdebt crises across the world sparked by the COVID-19 crisis,they have not been sufficientto restore economic stabilityinmany developing countries, according to a policy brief issued by the UN Secretary-General on Monday. More than a year into the pandemic, the fiscal impacts of the crisis are triggering debt distress…
UN Secretary-General Antonio Guterres called Monday for greater debt relief and new creative financing to help poorer nations deal with the pandemic and prevent their economic recoveries from falling behind. A “new debt mechanism” to provide more options — including debt swaps, buy-backs and cancellations — is needed, he said, as many nations have been…
When Dominic Raab, the foreign secretary, was in Sudan in January he offered 40m in aid to help its poorest people, who are facing unprecedented food scarcity in a debt-laden country where austerity is deepening. Sudan, ruled by an unelected military-led transitional government after longtime ruler Omar al-Bashir was deposed in 2019, owes the UK…
March 26, 2021 Washington, DC: The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging…
WASHINGTON, March 26, 2021The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging circumstances and…
WASHINGTON/KHARTOUM (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily indebted African country closer to a much-needed international debt-relief package, the World Bank, U.S. Treasury and IMF said on Friday. World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in…
The USDA will disburse up to $4 billion in Biden-backed loan forgiveness to minority farmers as speedily as possible, said Agriculture Secretary Tom Vilsack at the first-ever House Agriculture Committee hearing on the state of Black farmers. Farm state Republicans said the debt relief, intended as compensation for decades of racism, was itself discriminatory because…