debt

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Netflix's Growth Comes at a Cost

Company has gained $5.1B in debt in one year

(Newser) - Netflix is sinking deeper into debt in its relentless pursuit of more viewers, leaving the company little margin for error as it tries to build the world's biggest video subscription service, reports the AP . Netflix's long-term debt and other obligations totaled $21.9 billion as of Sept. 30,... More »

Trump Pledges to 'Wipe Out' Puerto Rico Debt. There's a 'But'

It's not clear whether the federal government can do that

(Newser) - President Trump generated headlines with his comments in Puerto Rico on Wednesday, but his most surprising remark seems to have come afterward in an interview with Fox News . “You know, they owe a lot of money to your friends on Wall Street, and we’re going to have to... More »

Dad Devastated by School Lunch Shaming Takes Action

Jeffrey Lew wants to pay off lunch debt for every student in Washington state

(Newser) - Jeffrey Lew never wants a child to be shamed on the school cafeteria line again. That's why the Seattle dad of three has been hard at work fundraising, with one goal in mind: to pay down the school lunch debt of every student in the state of Washington. Today.... More »

American Household Debt Hits New Record High

It beats the previous record ... set immediately before the 2008 recession

(Newser) - It's beginning to look a lot like 2008. The New York Times reports Americans had $12.7 trillion in household debt during the first quarter of 2017—a record high beating out the previous peak, which came immediately before the financial crisis. The new record was announced Wednesday by... More »

Nearly 75% of US Consumers Are in Debt When They Die

And the average debt at death is nearly $62K

(Newser) - Millions of Americans are escaping debt—through the sweet release of death. Credit.com reports 73% of American consumers were in debt when they died. The average amount of debt held at the time of death was $61,554 (though it was only $12,875 when mortgage debt was removed).... More »

How to Pay Off $276M Debt? Cuba Gets Creative

Havana wants to offer bottles of rum that would keep Czech Republic liquored up for more than 100 years

(Newser) - Who says arguments can't be settled and accounts squared over a good bottle of booze—or many of them. Cuba is apparently considering that route in taking care of the $276 million it owes the Czech Republic, with the BBC reporting the proposed volume of rum would last the... More »

Our Student Loan Debt Problem Is Getting Worse

4% increase from 2014 to 2015 for those with bachelor's degrees from public, nonprofit private schools

(Newser) - How much students are borrowing for higher education is still creeping up—and the numbers that are coming in are probably conservative. The Institute for College Access and Success , a nonprofit, reported Tuesday that the average student loan debt for 2015 for those receiving a bachelor's degree was $30,... More »

Report: Trump Has $650M in Real Estate Debt

The New York Times investigates the candidate's finances

(Newser) - A New York Times investigation into Donald Trump's US real estate holdings found companies owned by the candidate have at least $650 million in debt—twice what Trump listed on a campaign financial disclosure form. He's also part of three passive partnerships that owe another $2 billion. "... More »

Woman Can't Become Nun Till She Dumps $18K Student Loan

Sorry, Alida Taylor—convent rules

(Newser) - A 28-year-old Broadway costume designer recently decided to switch career gears, and it's a big change—she wants to become a nun, CBS News reports. But there's one major roadblock to Alida Taylor's dream to enter the Sisters of Life convent in September that only divine intervention,... More »

John Oliver Curses Out Oprah, Gives Away $15M

Take that, debt-buying companies

(Newser) - What better way to drive home the topic of debt than to give away $15 million? That's exactly what John Oliver did on Sunday's edition of Last Week Tonight after covering the issue, which, as Oliver put it, is "the reason that Nicolas Cage has made so... More »

Puerto Rico to Default on $370M Debt Bill

An even bigger payment of $1B is due July 1

(Newser) - Big financial trouble for Puerto Rico: The government won't make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the US territory's spiraling debt crisis. Gov. Alejandro Garcia Padilla said Sunday he had issued an executive order suspending... More »

Kanye: I'm $53M in Debt

Kanye West drops surprising tweet before 'SNL' appearance

(Newser) - Kanye West may be wildly successful, but is he stone broke? Well, he tweeted Saturday that he's $53 million in "personal debt" and asked his 18.7 million Twitter fans to "Please pray we overcome... This is my true heart," Sky News reports. Kanye didn't... More »

Claims of Fraud Could Get Student Loans Forgiven

More than 7.5K former students say their colleges defrauded them

(Newser) - Over the past six months, more than 7,500 Americans have applied to have their cumulative $164 million in student loans forgiven, claiming their colleges defrauded them, the Wall Street Journal reports. And as Gawker clarifies: "We are not talking here about the stereotypical 'Oberlin art history major... More »

Puerto Rico Narrowly Avoids Multimillion-Dollar Default

'Let us be clear: We have no cash left'

(Newser) - Puerto Rico narrowly avoided a multimillion-dollar default on Tuesday by announcing a last-minute bond payment while warning that a deepening financial crisis has forced the government to divert money slated for future debt payments to avoid a shutdown of basic services "Let us be clear: We have no cash... More »

Students With Smallest Debt Most Likely to Default

Those with biggest debt tend to end up with high-paying jobs

(Newser) - Who is more likely to default on a loan: a student who borrows a few thousand dollars, or one who borrows $50,000? The answer may surprise you: According to new data from the Department of Education, students who borrow between $1,000 and $5,000 default in 34% of... More »

Couple's Disappearance Stumps Connecticut Cops

They were in deep in debt, but family says there's no connection

(Newser) - A Connecticut couple in their mid-50s has been missing for two weeks now, and police are investigating whether their financial troubles—including $2.2 million in debt—may have something to do with it, reports CNN . Their families, however, aren't buying it. Police found the pickup belonging to Jeffrey... More »

Want to Get Out of Debt? Study Finds Best Way to Do It

Your approach to debt relief may be all wrong

(Newser) - You're staring down a $600 credit card bill and $60,000 in student loan debt: Which do you tackle first? Conventional wisdom says whichever has the higher interest rate. A new study out of Texas A&M says ignore those rates—and start with that credit card bill. It... More »

Clinton Wants to Throw $350B at Making College Free, Cheap

Candidate's plan would make community college free, 4-year college 'no loan'

(Newser) - As student debt balloons into an issue in the realms of predatory lending , borrowers' mental health , and even the elderly , politicians continue to brainstorm on making college more affordable. Hillary Clinton's solution: a $350 billion proposal whose goals include making community college free, cutting costs to attend four-year public... More »

Puerto Rico Defaults on Debt

US island territory fails to make $58M debt payment

(Newser) - The government of Puerto Rico has confirmed that it failed to make a $58 million debt payment that was due Saturday, a significant escalation of the debt crisis facing the US island territory. Puerto Rican officials had warned on Friday that they would not make the payment because the island... More »

US Strip Club Recruits Recent High-School Grads

Club claims it can help women get ahead

(Newser) - New advertisements outside Little Darlings strip club in Las Vegas encourage recent high school graduates to apply, promoting stripping as a way to earn money for college. Fox 5 reports that Little Darlings manager Rick Marzullo says the ads fit in with the character of Las Vegas. The signs have... More »

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