How much does missing student loan payments hurt your credit score?
CBSN
A U.S. freeze on federal student loan payments during the COVID-19 pandemic has offered a vital financial reprieve to millions of Americans. But borrowers could soon be on the hook again, with the moratorium set to lapse at the end of the month.
More than 79% of those with student debt — a total of 30 million people — saw their credit scores improve during the pandemic, according to a report this week from the Federal Reserve Bank of New York. Nearly 8 million borrowers boosted their scores enough to jump to a higher credit tier.
"The pandemic repayment pause drastically reduced delinquency and default on student loans, so we've seen increases in credit scores across the distribution of student debtors," said Marshall Steinbaum, senior fellow in higher education finance at the Jain Family Institute. "Student debtors' credit scores have risen across the board, but they have increased the most for the least well off student debtors."
Married couples across the U.S. have had access to no-fault divorce for more than 50 years, an option many call crucial to supporting domestic abuse victims and key to preventing already crowded family courts from drowning in complicated divorce proceedings.
NEW YORK -- An Osprey being used to ferry White House staff and government officials from an event in New York on Monday was grounded due to a safety concern, with one witness reporting flames under the right engine.
A sonar image suspected of showing the remains of the plane of Amelia Earhart, the famed American aviator who disappeared over the Pacific in 1937, has turned out to be a rock formation.
A pilot and a rescue dog he was transporting to an animal shelter were killed when a small plane crashed in the snowy woods of the Catskill Mountains, though two other dogs were later found to have survived, authorities said.
Walmart, the world's largest retailer, is rolling back its diversity, equity and inclusion policies, joining a growing list of major corporations that have done the same after coming under attack by conservative activists.
The typical American retires far earlier than he or she expects to, and it's often not by choice, according to new research from the Transamerica Center for Retirement Studies.
Rapper Drake's company Frozen Moments filed a petition in a New York court Monday accusing the streaming service Spotify and Universal Music Group of conspiring to inflate the streams of Kendrick Lamar's hit diss track "Not Like Us."
President-elect Donald Trump is threatening to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his efforts to crack down on illegal immigration and drugs.
A class of drugs known as GLP-1s have been helping people lose weight, but out of pocket costs put them out of reach for many Americans. In West Virginia, a subsidy program for public employees was showing promising results, but then the state abruptly ended it, leaving many searching for new solutions.
President Biden and first lady Jill Biden will attend President-elect Donald Trump's inauguration on Jan. 20, the White House said Monday.
Starbucks said Monday that a ransomware attack on a third-party software provider is hindering its ability to track baristas' hours and manage their pay.