There’s one upside to your student loan payments: they might qualify you for a tax break. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt. There’s one upside to your student loan payments: they might reduce your 2024 tax bill. The student … Read more
The decision to refinance your home equity loan needs to be carefully considered in today’s changing rate climate. Getty Images When it comes to refinancing your debt, many borrowers first think of their mortgage or, perhaps, their student loan. But home equity loans can also be refinanced to a lower rate. These products, which allow … Read more
Lenders will no longer be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. for mortgages, car loans or business loans, according to a rule the Consumer Financial Protection Bureau finalized Tuesday. Removing medical debts from consumer credit reports is expected to increase the credit … Read more
Coherent Corp. (NYSE:), a Pennsylvania-based company specializing in optical instruments and lenses with a market capitalization of $15.6 billion and annual revenue of $5 billion, has successfully renegotiated the terms of its debt, achieving a reduction in interest rates on its existing term loans. The amendment to the credit agreement was executed on January 2, … Read more
Despite COVID-era student loan payment pauses coming to an end, eligible borrowers have a range of forgiveness options that will remain, even after the transition to a new presidential administration. Why It Matters The Biden administration has forgiven nearly $180 billion in student loan debt to approximately five million Americans, according to the Department of … Read more
West Virginia Great Barrel Company The West Virginia Economic Development Authority has voted to aim a sliver of $70 million in financial incentives to support a whiskey barrel manufacturer considered a high-impact development project. The project aims to retain 230 employees and add 30 more with a $2 million forgivable loan and a $2 million … Read more
A study by the University of Washington’s Foster School of Business released Tuesday has uncovered significant disparities in lending practices affecting businesses owned by people of color and women. One surprising finding was the breadth of the interest rate differential, with businesses owned by people of color and women facing interest rates two to three … Read more
Unpaid medical bills will no longer appear on credit reports, where they can block people from mortgages, car loans or small business loans Unpaid medical bills will no longer appear on credit reports, where they can block people from mortgages, car loans or small business loans, according to a final rule announced Tuesday by the … Read more
Unpaid medical bills will no longer appear on credit reports, where they can block people from getting mortgages, car loans or small business loans, according to a final rule announced Tuesday by the Biden administration. The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water’s junior bondholders have accused the troubled utility’s senior creditors of attaching “predatory” conditions to a £3bn emergency loan, which they claim is an attempt to “sidestep” regulatory oversight. The claims by a group … Read more