Connecticut cities seeking state assistance with debt payments would be prohibited from filing for bankruptcy. Under the latest state budget proposal, municipal leaders can apply to have the state pick up a portion of their annual debt payments, a move that is being considered in the cash-strapped capital city. In a new draft of legislation…
The good news about student loans is that they allow millions of people to earn college degrees who otherwise wouldnt be able to afford them. The bad news is that college graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years, if not decades. The current…
Government debt could increase by more than 50%, or by R1.2 trillion, to danger levels over the four fiscal years ending March 2021 and if this comes to bear it could ultimately lead the country to seek international help from organisations like the International Monetary Fund (IMF). Finance Minister Malusi Gigaba today presented his first…
The Government today confirmed Stoke-on-Trent teachers will benefit from a pilot scheme to pay off part of their student debts. It will initially target teachers specialising in science or modern foreign languages to help ease recruitment and retention problems. The full details have yet to be released, but eligible teachers will be reimbursed for at…
Canadians enter the workforce with an average of nearly $27,000 in student loan debt, finds a survey by Consortium, C.U. The debt typically takes 10 years to repay, which means many delay saving for traditional life goals like home ownership, starting a family or retirement. Great-West Life is piloting a voluntary retirement and savings program with select…
A plan to help people in serious debt, by potentially giving them a six-week grace period from things like higher interest charges, has been announced by the Treasury. The Government said it was launching a consultation until January on how its “breathing space” scheme could work and in what circumstances amid concerns about growing problem…
People who are suffering from problem debt could be granted a six-week grace period to get their finances back on track, under new plans being considered by the Treasury. Under the plans, those plagued with excessive household debt would be exempt from further interest, charges and enforcement action for a period of six weeks, which…
Australians are cutting back on basic things like fresh fruit and vegies in order to keep the lights on with the National Debt Helpline taking 14,000 calls in September a record for the month, and up 14 per cent on the same time last year. The helpline said borrowers were mainly calling from metropolitan…
Saving for retirement isn’t a top priority for many young professionals, but Great-West Lifeco Inc. thinks it can change that by addressing heavy student debt loads. The life and health insurer is rolling out a new program to its client companies that will allow eligible employees to pay off their student debt while also getting…
Saving for retirement isn’t a top priority for many young professionals, but Great-West Lifeco Inc. thinks it can change that by addressing heavy student debt loads. The life and health insurer is rolling out a new program to its client companies that will allow eligible employees to pay off their student debt while also getting…