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U.S. President Joe Biden delivers remarks on the economy at the Brookings Institution in Washington, DC, U.S. December 10, 2024.
Kevin Lamarque | Reuters
The Biden administration announced on Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.
Washington — The Biden administration is canceling federal student loans for another 55,000 workers through an existing program known as Public Service Loan Forgiveness.
The Education Department’s announcement Friday targets teachers, nurses, service members, law enforcement officials and others who’ve reached eligibility through the program, which promises to erase loans after 10 years of work in government or nonprofit jobs.
The $4.28 billion in relief is expected to be the final round of public service loan forgiveness before President Biden leaves office in January. After failing to deliver his promise of widespread loan cancellation, Mr. Biden has instead focused on expanding loan relief through programs that were created before…
Inflation, elevated interest rates, market disruptions drove business failures in key sectors
The year 2024 was a difficult one for many B.C. businesses, with a number of insolvencies occurring in a variety of sectors.
Nationally, business insolvencies for the 12‑month period ending Oct. 31 increased by 41.7 per cent year to year, according to the federal Office of the Superintendent of Bankruptcy (OSB). The October data was the most recent available.
Transportation, warehousing, construction, accommodation and food services registered the biggest increases in insolvency numbers, OSB said. Mining, quarrying and oil and gas extraction registered the biggest decreases.
Various factors have contributed to a challenging…
Troubled Melbourne financial advice firm United Global Capital (UGC) has been put into liquidation by the Federal Court.
ASIC said that creditors had resolved to wind up UGC, and David Stimpson of SV Partners has been appointed as a liquidator.
UGC withdrew its application regarding the cancellation of its Australian financial services licence, which was cancelled on 31 July– the Administrative Appeals Tribunal (AAT) dismissed that application.
An application made by director Joel James Hewish regarding his 10-year ban is being reviewed by the AAT. Hewish was banned for 10 years from providing financial services, performing any function involved in carrying on of a financial services business, and controlling an entity that…
All parties claiming an interest must lodge answers with the court within seven days.
Liquidation is the process of closing a limited company, selling the assets to pay off debts and dissolving the company from the official register at Companies House.
In short it will stop doing business and employing people.
WASHINGTON (AP) — President Joe Biden is abandoning his effort to cancel student loans for more than 38 million Americans, the first step in an administration-wide plan to jettison pending regulations to prevent President-elect Donald Trump from retooling them to achieve his own aims.
The White House expects to pull back unfinished rules across several agencies if there isn’t enough time to finalize them before Trump takes office. If the proposed regulations were left in their current state, the next administration would be able to rewrite them and advance its agenda more quickly.
Even as the Biden administration moves to pull back the rules, it pushed ahead with cancellation through other…
MANALAPAN, N.J., Dec. 20, 2024 (GLOBE NEWSWIRE) — As millions of Americans face uncertainty about the future of student loan repayment programs, Navicore Solutions is stepping up to provide critical financial guidance and support. With legal challenges surrounding the Biden administration’s SAVE Plan and speculation about the future of federal student loan policies under a new administration, borrowers are grappling with the dual pressures of student loan payments and mounting credit card debt.
The Supreme Court’s rejection of President Biden’s sweeping loan forgiveness initiative has left millions of borrowers in limbo. Meanwhile, the fate of the Saving on a Valuable Education (SAVE) Plan, which…
he government has maintained that publicly listed textile company PT Sri Rejeki Isman (Sritex) should remain operational despite the Supreme Court’s rejection on Wednesday of an appeal from the firm to avoid bankruptcy.
The Supreme Court decision automatically upheld the Semarang Commercial Court’s verdict to declare the company bankrupt on Oct. 23.
On Thursday, the government urged state-owned banks, which are among Sritex’s…
