Debt-laden companies across Europe, Middle East and Africa face a $500 billion refinancing scramble in the first half of 2024, a challenge that could kill off many "zombie" businesses even though an expected peak in rates could bring some relief. Businesses facing rising debt costs after years of low rates will have to compete to secure enough cash in the biggest corporate refinancing rush seen for years, just as banks rein in risk ahead of stricter capital rules. A crunch is looming, finance industry experts said, with many weaker, smaller businesses seeking new private loans and public debt deals just as government borrowing costs - which influence loan rates - are soaring globally.
Student loans account for 96% of education debt in the U.S. As people look for ways out of this debt especially those with high debt amounts pervasive and damaging student loan myths can emerge..
According to the Federal Reserve, 30% of all U.S. adults said they incurred at least some debt for their education. Borrowers owe a collective $1.77 trillion in student loan debt, including federal and private loans. “Borrowing is almost at the point where it’s a requirement,” said Dana Kelly, from the National Association of Student Financial Aid Administrators.
What are private student loans? These loans, provided by banks and credit unions, can supplement your other financial aid after you've exhausted federal loans.