"I Don't Know What To Do!": Borrowers Report Credit-Score Carnage As Student Loans Hit Reports

"I Don't Know What To Do!": Borrowers Report Credit-Score Carnage As Student Loans Hit Reports

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Between the resumption of collections, courts blocking student loan programs in the United States, and layoffs in the Department of Education, borrowers may be confused about the status of their loans.

“I Don’t Know What To Do!”: Borrowers Report Credit-Score Carnage As Student Loans Hit Reports – altnews.org

Last week we noted new report from the New York Federal Reserve, which showed that while Americans’ credit card debt

"I Don't Know What To Do!": Borrowers Report Credit-Score Carnage As Student Loans Hit Reports - Nemos News Network

Last week we noted new report from the New York Federal Reserve, which showed that while Americans’ credit card debt is falling, credit scores are starting to decline due to an uptick in student loan delinquencies.  The NY Fed’s Center for Macroeconomic Data’s quarterly report reveals that overall household debt rose by $167 billion – with credit card debt declining by $29 billion. Yet, the delinquency rate for student loans surged from below 1%…