How much debt does the average Australian have?

From home loans to HECS debts to payday loans, Aussies have become prolific borrowers. According to the Bank for International Settlements, aggregate household debt in 1974 was equivalent to about a third of Australia’s gross domestic product (GDP). As of 2024, the total amount owed by Aussie households exceeds 110% of GDP. Australia used to…

Italy defence drive could derail debt, hit ratings

MILAN – Italy’s pledges to increase defence spending to help Ukraine could scupper government efforts to rein in the mammoth public debt, analysts say, posing a threat to the creditworthiness of the euro zone’s third-largest economy. A European Union drive to hike military expenditure, in response to the Trump administration’s moves towards a rapprochement with…

Trump Moves Forward With Plan to Limit PSLF Student-Debt Relief

President Donald Trump’s administration is taking the next step toward revamping key student-loan forgiveness programs. On Thursday, the Department of Education announced it would be holding two public hearings to solicit feedback on its plans to refine the Public Service Loan Forgiveness program and income-driven repayment plans. This is part of the negotiated rulemaking process,…