Hailey Mensik Chicago Tribune Published 11:02 p.m. UTC Aug 13, 2018 Chicago – It’s a struggle each month for Khallilah Beecham-Watkins to balance her student loan payment with the expense of supporting a young family. The 28-year-old education program specialist for a local nonprofit aspires to pay off her own college debt before her infant daughter eventually begins a four-year degree. But with a monthly childcare bill of $750, there’s little extra to put toward her loan payments, and even less to put toward the new home she wants to buy with her husband, who is also repaying student loans. “I’ve had to put a lot of my dreams on hold,” the South Side resident said. Beecham-Watkins’ story is consistent with many young women today, who hold nearly two-thirds of the nation’s outstanding student loan debt, according to the American Association of University Women, a nonprofit that researches women’s equity in higher education … [Read more...] about Women bear greater burden on student debt
Bad debt expense
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News / UK and world by Press Association August 2, 2018, 12:12 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Insurer Aviva suffered a 2% drop in first-half profits as bad weather, divestments and poor performance from its Canadian motor insurance division weighed on results. The company said operating profits declined slightly to £1.44 billion over the first six months of the year, from £1.47 billion a year earlier. It was knocked in part by a significant increase in weather-related claims, including from its UK division, which suffered the effects of the Beast from the East in early spring. Aviva was also impacted by “challenging market conditions” in the Canadian motor insurance market, where it continues to see heightened claims activity, as well as business divestments in the first half of the year. But Aviva insisted it was still delivering “attractive growth from its major businesses” and … [Read more...] about Aviva suffers 2% profit drop as bad weather and Canadian motor claims weigh
WASHINGTON – The only bipartisan bill coming out of Congress these days is the one we're leaving to future generations to pay back. And it's getting bigger all the time. Proof came quietly last week, when the Trump administration released its mid-session review of the federal budget. The bottom line was that the federal deficit will top $1 trillion in fiscal 2019 – nearly double what the tax-cutting Trump administration had previously promised. "This is a striking acknowledgement following almost two years of claims that economic growth unleashed by these policies will wipe deficits away," noted Maya MacGuineas, president of the Committee for a Responsible Federal Budget. The Trump administration still argues that last year's tax cuts (and maybe more to come) will unleash such economic growth that the deficit will start shrinking in the coming years, to a mere $363 billion in fiscal 2028. Practically no other budget geek in Washington projects that. The Congressional … [Read more...] about The Briefing: Deeper and deeper and deeper into debt
Susan Tompor Detroit Free Press Published 10:00 p.m. UTC Jun 21, 2018 Rhonda and Lonnie Edwards Jr. had good middle class jobs most of their lives. He worked nearly 35 years in an hourly union job at General Motors. She had a job in Detroit Public Schools for 13 years as an attendance agent and earlier as a parent liaison. She later worked for the state unemployment agency for another 10 years. "We were just middle-income earners. My goal was to be debt free by the time we retired," said Rhonda Edwards, 63. Things didn't quite work out that way. The medical bills hit after Lonnie, now 67, was diagnosed with prostate cancer in 2007, just three years after he had taken an early retirement in his 50s. Around the same time, their finances took a dive during the depths of Detroit's housing crisis when they had plans to buy to a smaller co-op but had trouble selling their family home in the well-regarded University District in Detroit and ended up … [Read more...] about Retiring with debt? More Americans are. Here are some strategies