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The Trump administration will resume garnishing wages from 5.5 million defaulted student loan borrowers starting January 2026, ending a years-long pandemic pause.
The Department of Education reversed course and delayed wage garnishment for millions of defaulted student loan borrowers. Here's what changed, what happens next, and what borrowers should do now.
Average HELOC rates have fallen to 7.23% and home equity loan rates to 7.44%, their lowest since late 2022. With $35 trillion in home equity and three expected Fed cuts, borrowing is accelerating.
The One Big Beautiful Bill eliminates income-driven repayment for new Parent PLUS loans after July 1. With processing taking up to 8 weeks, March is the last practical window to act.
The NY Fed's Q4 2025 Household Debt Report shows $18.8 trillion in total debt, rising delinquencies in credit cards, mortgages, and student loans. Here's what it means for your finances.
The Congressional Budget Office projects federal debt will hit 108% of GDP by 2030 and 120% by 2036, surpassing the World War II record. Deficits will total $24.4 trillion over the next decade.
Credit card balances rose $44 billion in Q4 2025 to a record $1.28 trillion. With 41% of debt from emergencies and average rates above 20%, millions of households are borrowing just to survive.
The CBO projects federal debt held by the public will reach 101% of GDP by the end of fiscal year 2026, crossing the 100% threshold for the first time since World War II, and rising to 120% of GDP by 2036.
Medicare Part B premiums surged 9.7% to $202.90 per month in 2026 while Social Security's COLA was just 2.8%, eroding one-third of the average benefit increase and leaving retirees with less purchasing power.
The University of Michigan's consumer sentiment index rose to 57.3 in February 2026, its third consecutive monthly increase. But the gains were driven entirely by households with stock market exposure while sentiment among non-investors remained at depressed levels.
The Federal Reserve has cut rates three times since September 2025, but the average credit card APR remains near 23%, barely budging from its all-time high. With Americans carrying $1.21 trillion in revolving debt, the disconnect is costing consumers billions.
The One Big Beautiful Bill Act eliminates Graduate PLUS loans entirely, caps Parent PLUS loans at $20,000 per year, and limits graduate student borrowing to $20,500 annually starting July 1, 2026.