Changes in the May 14 budget will cut the student debt of more than three million people, wiping more than $3 billion from what people owe. The government will cap the HELP indexation rate to be the lower of either the Consumer Price Index (CPI) or the Wages Price Index (WPI), backdated from June 1…
Every year on June 1, student debt in Australia is indexed to inflation. In 2023, high inflation pushed the indexation rate to 7.1%, the highest since 1990. This year, if there is no policy change, student debt balances will be increased by 4.7%. After sustained community pressure to change the way debts are indexed, the…
Normal text sizeLarger text sizeVery large text size A total of $3 billion will be wiped off millions of Australians student debts for tertiary education in an Albanese government pitch to younger voters punished by years of rising rents and consumer prices. Facing Greens and crossbench blowback on its agenda to help financially insecure Millennials,…
By pursuing debt relief you can start eliminating mounting debt this May. Getty Images Prices are rising. That’s not only true for consumer goods and services, it’s also true in terms of the cost of borrowing money. And, if you have debt with variable interest rates – like credit cards and some other loans – you…
The only reason the Federal Reserve might be tempted to cut rates would be to help the U.S. cover interest payments for the national debt, according to fund manager Freddie Lait. His comments come ahead of the Federal Reserve’s monetary policy decision on Wednesday, which could shed some light on the U.S. central bank’s rate…
Today’s Fed decision means credit card interest rates and minimum payments may remain elevated. Getty Images The Federal Reserve’s Federal Open Market Committee (FOMC) meeting concluded earlier today. And, the Fed announced that it will be keeping its target federal funds rate unchanged. That means that this benchmark rate will remain elevated at a 23-year high. That’s…
Century Support Services is a debt settlement company based in Pennsylvania. The Better Business Bureau accredited it with an A+ rating. It offers free assessments so that consumers can see if the solution will work for their needs. They boast a 94% customer satisfaction rating. Century Support Services makes our list of the best debt…
After paying off around $20,000 in credit card debt six years ago, Shonnita Leslie hasn’t used a credit card since. “I was more than happy to cut them up,” the 40-year-old tells CNBC Make It. But she didn’t always feel that way. Growing up, Leslie’s mom “loathed” credit cards, she says. Leslie began receiving credit…
The Dutch city of Arnhem is going to cancel the debts of some of the poorest families in the Netherlands in an attempt to break a health-crushing downward spiral and give people a fresh start. Earlier this month, municipal officials began knocking on doors in the Immerloo II district, one of the poorest neighbourhoods in…
Freedom Debt Relief is a national leader in debt relief solutions for consumers. The American Association for Debt Resolution accredits it and says the company will help people with at least $5,000 in debt in most states. According to a representative, around 55% of their clients see debt settlement negotiations in the first 60-90 days.…