Delinquencies are up, especially for people with lower incomes and multiple types of debt, according to the New York Fed.
But other positive factors in the economy are limiting the potential damage, economists say, like low unemployment.
Do they wait for lower rates in the future or borrow what they need today? It’s a question of cost versus opportunity.
Their customer base is shrinking and there's no appetite for raising prices, aka tuition.
The Federal Reserve has been raising interest rates for almost two years now, affecting virtually everyt;hing in the economy. But some businesses have been relatively insulated from rate hikes.
But with interest rates high and wage growth slowing, that level of spending is becoming unsustainable.
Some experts back the idea for certain high-interest loans. But it likely wouldn't put off desperate short-term borrowers.
More than 230 companies declared bankruptcy before the end of April. What is happening?
Reining in our debt amid the debt ceiling battle would require big — and painful — changes to government spending and taxation.
Total loan balances rose from last quarter and year over year, according to the FDIC. There are good reasons to borrow now.