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  • Current Event
    8 months ago
    by bkool
    +11 +1

    Government must reconsider 'punitive' student loan interest rates, MPs say

    The Government must reconsider “punitive” high interest rates on student loans and look at bringing back maintenance grants for poorer students, an influential Commons committee has said. Cross-party MPs on the Treasury Committee said that the Government should re-examine the student loan system which allows "high-flying lawyers" to pay less back than teachers.

  • Current Event
    8 months ago
    by tukka
    +17 +1

    Debtors' prison: ACLU report details 'criminalization of private debt'

    Americans' reliance on household debt ─ and poor people's struggles to pay it off ─ has fueled a collection industry that forces many of them into jail, a practice that critics call a misuse of the criminal justice system. The accusation is documented in a report by The American Civil Liberties Union, which spent more than a year investigating collection methods across the country, saying it found more than 1,000 cases in 26 states in which judges, acting on the request of a collection company, issued arrest warrants for people they claimed owed money for ordinary debts, such as student loans, medical expenses, unpaid rent and utility bills.

  • Current Event
    8 months ago
    by geoleo
    +15 +1

    Bill Gates is paying off this country's $76 million debt

    Billionaire philanthropists Bill and Melinda Gates will pay off $76 million of Nigeria's debt through their namesake foundation. The payments, which will be made over the course of 20 years, are due to begin this year.

  • Current Event
    8 months ago
    by zritic
    +14 +1

    Credit card debt surpasses $1 trillion in the US for first time

    U.S. consumers’ total credit card debt exceeded $1 trillion for the first time, according to a new study by the personal finance website WalletHub. Consumers took on an additional $92.2 billion in debt last year, the highest single-year amount since 2007. The average U.S. household owes $8,600 on credit cards, WalletHub found.

  • Analysis
    7 months ago
    by Apolatia
    +19 +1

    Students Use Loans to Fund Cryptocurrency Investment: Study

    On March 22, 2018, a report was released by the Student Loan Study that raised a few eyebrows across the space. A survey of 1,000 college students with student debt were asked the simple question: The results were astounding with 21.2 percent answering in the affirmative. Although the details of the methodology used in the survey have been kept relatively vague and leave questions as to whether the subset selected could provide a realistic estimation, a case can be madefor these surprising results.

  • Current Event
    6 months ago
    by TNY
    +7 +1

    Trump tax plan will make U.S. only advanced economy to see its public debt ratio increase, IMF warns

    The United States is the only country with an advanced economy that will see its public debt ratio increase over the next three to five years, according to a new report issued by the International Monetary Fund (IMF). As the ratio rises, so will tax rates and America's inability to stabilize the economy during recessionary periods, experts say. Because of the increased government spending and borrowing required by President Donald Trump’s tax cuts and two-year budget deal, the U.S. will take on deficits above $1 trillion over the next three years...

  • Current Event
    6 months ago
    by messi
    +14 +1

    World Bank recommends that countries eliminate minimum wage, dismantle wrongful dismissal rules and contractual protections for workers

    A draft of the World Bank's annual flagship World Development Report says that its creditor-states (the poorest countries in the world) should eliminate their minimum wage rules, allow employers to fire workers without cause, and repeal laws limiting abusive employment contract terms. The bank argues that this is necessary to stop employers from simply investing in automation and eliminating workers altogether.