Having banks and local governments deleverage and trim overcapacity are part and parcel with central government efforts to maintain stable growth by nurturing the supply side of the economy. But even as this happening, the housing market has been flooded with new loans in recent months, exposing the economy to new risks. The central government…
The Bankruptcy (Consolidation) Bill is very welcome. Although it does not make any substantive changes to personal insolvency law in Scotland, it does bring the Scottish law on bankruptcy together into one piece of well-ordered and logical legislation. The changes introduced to the Scottish personal insolvency regime over the past few decades have been necessary…
A comparison of debts acquired by graduates elsewhere in the world (particularly in the US) suggest Australian students are not badly off. Photo: Canberra Times Student debt incurred under the the Higher Education Loan Program represents a large and growing problem for the federal government and for taxpayers. Of the estimated $30 billion on the Commonwealth’s…
Editorial A comparison of debts acquired by graduates elsewhere in the world (particularly in the US) suggest Australian students are not badly off. Photo: Canberra Times Student debt incurred under the the Higher Education Loan Program represents a large and growing problem for the federal government and for taxpayers. Of the estimated $30 billion on…
Essar Steel Minnesota, a U.S. affiliate of Indias Essar Global Group, has hired financial and legal advisers to help it restructure its debt, Reuters reported last week, citing sources familiar with the matter. The company is in the final stages of building a $1.8 billion iron ore pellet plant in northern Minnesota. Its woes underscore…
CHICAGO–(BUSINESS WIRE)–Fitch Ratings believes Dell Inc.’s (Dell) sale of its information technology services (Services) business to NTT Data Corp. for more than $3 billion will help reduce approximately $50 billion of debt incurred to finance Dell’s $67 billion acquisition of EMC Corp. (EMC) announced Oct. 13, 2015. Fitch’s ‘BB’ long-term Issuer Default Ratings (IDRs) for…
More than 2,000 students who were victimized by Corinthian Colleges in Massachusetts are eligible to have their federal loans forgiven, Attorney General Maura Healey announced today at an event with U.S. Secretary of Education John B. King. According to the U.S. Department of Education, students who were defrauded at 91 former Corinthian campuses nationwide…
Elite universities aren?t necessarily the best option for postgraduate students, according to the Grattan Institute?s Andrew Norton. University students may have to start paying back their HELP debt sooner. UNIVERSITY graduates may have to start paying their loans back sooner after a report revealed many students will never earn an income high enough to repay…
A new report says slashing the income threshold at which student debts need to be repaid could raise $500 million in a year. The Grattan Institute report recommends reducing the repayment threshold from $54,126 to $42,000 to help reign in rising student loan debts under the current Higher Education Loan Plan (HELP). Grattan Institute…
Prudential Retirement on Monday said it is helping its clients employees pay down student loan debt while also building a retirement nest egg, rather than prioritizing one goal over the other. Prudential Retirement Insurance and Annuity Co. has teamed with Student Loan Genius to enable employers to reward employees for paying off their student loan…