U.S. Department of Education to Erase Student Loan Debt for Borrowers with Severe Disabilities

The United States Department of Education announced on Aug. 19 that it will automatically erase student loans debt for over 323,000 borrowers with severe abilities. The move will cancel over $5.8 billion of student loans debt for Americans identified as …

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U.S. Department of Education Cancels $500 Million of Student Debt for Defrauded Borrowers

The US Department of Education announced on June 16 that it approved the cancellation of about $500 million worth of federal student loans for 18,000 borrowers who attended the non defunct for-profit ITT Technical Institute. ITT Technical Institute, which closed …

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Archegos Liquidation Impacts Financial Markets, Stocks Tumbling

U.S. stock markets tumbled yesterday following news that Bill Hwang’s Archegos Capital Management was liquidating $30 billion in assets to cover a margin call that went south. The large sell-off was triggered by Archegos’ positions in something called a contract-for-difference, …

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Kenya Refuses to Hand Port to China to Settle Debts

Kenya is at risk of losing losing the port of Mombasa to Chinese lenders if it defaults on $3.2bn loans that were used to fund the development of the country’s Standard Gauge Railway, according to reporting by the Kenya Star. …

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