Student loan debt

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

Finding loan forgiveness programs and keep-the-change loan paydowns are examples of services startups like Savi, Summer and FutureFuel.io are offering banks to help borrowers manage their monthly payments.

Despite some improvements, almost one-quarter of respondents to a LendEDU survey were still waiting on their relief checks and those consumers are more likely to take on additional credit card debt.

Just over 40% of respondents with private student loans said they had worked with their lenders to come up with a plan for reduced payments.

As universities move classes online, there are signs enrollment could be down in the coming academic year. That could have a major impact on credit unions’ private student loan portfolios.

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.

The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.

The proposal announced Tuesday is aimed at attracting younger voters.

Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.

Several proposals in Congress requiring clear disclosures on student loans could help lower defaults.

Politicians' grand plans to reform the college funding process won't come to fruition anytime soon, so credit unions shouldn't ignore the opportunties presented by student lending.

Digit is applying its automated-savings techniques to the growing problem of student loan debt.

A poll from AmOne indicates consumers aren't optimistic about their prospects for retirement.

In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.

Home prices have more than recovered since the recession, but higher-than-ever medical and student debt is robbing many homeowners from realizing the benefits, while keeping others away from the market, according to Zillow.

Readers react to plans by Democratic presidential candidates to reform college tuition, credit unions buying more banks, whether the next president could fire the CFPB head and more.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

The proposal's aim is to ensure borrowers are treated fairly and would require companies, including CUSOs, to submit licensing applications.