Debt

The hard-fought deal pleased few, but lawmakers assessed it was better than the alternative — a devastating economic upheaval if Congress failed to act.

Congress faces a June 1 deadline to raise or suspend the debt ceiling in order to avoid a catastrophic default.

“I just believe where we were a week ago and where we are today is a much better place,” said McCarthy, sounding more optimistic than ever about a deal.

Under President Joe Biden, the U.S. Department of Education has in recent years canceled more than $66 billion in education debt.

President Biden met with congressional leaders Tuesday to discuss the nation’s debt ceiling in the face of a potential default and economic catastrophe.

Biden’s best hope for being allowed to move forward with his plan appeared to be the possibility that the court would find that Republican-led states and individuals challenging the plan lacked the legal right to sue.

A low credit score can hurt your ability to take out a loan, secure a good interest rate, or increase a credit card spending limit. Some reasons for a low score are out of your control — such as unexpected medical debt or a lack of credit history. But credit agencies are working to improve access to credit by giving...

The U.S. government reached the nation’s legal borrowing limit on Thursday, forcing the Treasury Department to resort to “extraordinary measures” to avoid a default.

Economists say consequences of a default on the national debt could include higher interest rates, a stock market crash, a recession and massive job losses. NBC’s Alice Barr reports.

President Joe Biden announced Wednesday that his administration is on track to reduce the national deficit by $1.5 trillion in 2022, allowing the feds to pay down the national debt for the first time in six years.

A new federal report finds that record-keeping failures by the Education Department may have left thousands of Americans stuck with student debt that should have been forgiven.

Despite signs that the pause on student loans will be extended again, no announcement has been made. Experts say borrowers should be prepared to start paying.

As prices spike, workers are running out of money faster: Now, 1 in 5 say they can’t make it from paycheck to paycheck.

Whether or not couples keep joint accounts could make or break a relationship, according to research. Here’s why.

Equifax, Experian and TransUnion recently announced that starting July 1, they will remove nearly 70% of medical debt from credit reports.

Having enough cash set aside to cover big unexpected expenses can feel unattainable. But you may find more money in your budget by making some adjustments.

A tax refund offers a rare opportunity to build a safety net. Here are three ways to stretch the one-time payment.

Higher-education expert Mark Kantrowitz argues federal student loans could be forgiven via regulatory changes set by the executive branch.

A large number of U.S. consumers will have their medical debt wiped from their credit reports, the nation’s largest credit reporting agencies announced.

Siraba Keita’s experience reflects a tension between banks, their customers and creditors looking to collect on old debts.