Borrowers

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Mimi Hoang rejoiced when President Biden announced plans last year to cancel thousands of dollars in student debt. The 20-year-old had taken out $30,000 in federal loans to pay for just her first year of college at Southern Oregon University, and the thought of it was weighing on her.“It is a real burden for me to know that I carry that much from one year of school,” she said.As she faced the prospect of tripling her loan debt by staying at Southern Oregon, Hoang decided to move back to her family’s home in Hayward last…

Credit: Unsplash/CC0 Public Domain By putting a price on the cost of carbon, the Government of Canada aims to curtail greenhouse gas (GHG) emissions, but it comes with an increased risk for financial lenders and borrowers with high carbon emissions. In a first-of-its-kind study, University of Waterloo researchers analyzed the…

Rising interest rates are squeezing cash-strapped towns and school systems that use short-term borrowing to keep cash flowing while they wait for property tax dollars to come in.  A-rated cities and school districts are paying 3.16% for a one-year loan issued March 3, compared with 0.21% at the beginning of 2022, according to data from Refinitiv MMD. In places where local budgets are already burdened by inflation, rising borrowing costs add to the pressure to raise taxes or cut services.…

The Central Bank of Nigeria has said that the total loan repayments under the Anchor Borrowers’ Programme (ABP) stood 52 per cent in February. The CBN spoke in reaction to a report by the International Monetary Fund (IMF) which claimed that only 24 per cent of loans disbursed under the ABP had been repaid. In its recent report titled ‘Nigeria selected issues’, the fund said agricultural credit in Nigeria has not significantly boosted production even though there is the challenge of targeting the right recipients…

The International Monetary Fund (IMF) says only 24 per cent of loans disbursed under the Central Bank of Nigeria (CBN) Anchor Borrowers Programme (ABP) have been repaid. The Washington-based lender in its recent report titled ‘Nigeria selected issues’ said agricultural credit in Nigeria has not significantly boosted production even though there is the challenge of targeting the right recipients for the credit. In November 2015, President Muhammadu Buhari launched the ABP to boost agricultural production and…

WASHINGTON—Tens of millions of borrowers face months of uncertainty as the Supreme Court decides the fate of President Biden’s student loan forgiveness program.During oral arguments on Tuesday, the court’s conservative majority expressed skepticism that the Biden administration had the legal authority to wipe away debt for the majority of the 43 million Americans with federal student loans. The court will likely not deliver its decision in the case until late June, leaving borrowers to…

At a staggering $1.76 trillion, student debt is among the largest debts in the U.S. — second only to mortgages — affecting over 43 million Americans, according to federal data. And it’s taking a toll on borrowers’ mental and physical well-being. The American Journal of Preventive Medicine links higher student debt to a greater risk of cardiovascular disease and related conditions. The authors of its 2022 report concluded that as student debt piles up, the health risk to borrowers could undermine the health benefits of…

There are 45 million Americans who have student loan debt, and for entrepreneurs, this can make qualifying for a small-business loan more challenging. Student loan debt can impact your credit score and debt-to-income ratio — two components lenders use to evaluate a borrower’s risk of defaulting. However, it is possible to get a business loan with student debt. “Many times, I would say half of our loans — more than that — have student debt,” says David Canet, managing director of the SBA Lending Group at ConnectOne Bank.…

New rules ‘will end the bureaucratic nightmares of the past,’ Education Secretary Miguel Cardona said. Photo: Evan Vucci/Associated Press…