US EditionOver 9 million student loan borrowers past-due after bills restarted, Fed estimates
- An estimated 9.7 million federal student loan borrowers have fallen behind on their repayments since the end of the pandemic-era freeze, according to the Federal Reserve Bank of New York.
- The Federal Reserve warns that borrowers will face significant drops in credit scores once delinquencies appear in early 2025 due to these delinquencies.
- The Education Department has reopened applications for income-driven repayment plans while cutting nearly half of its workforce.
- Experts expect that the overall delinquency rate will exceed pre-pandemic levels, predicting substantial declines in credit standing for over nine million borrowers.
31 Articles
31 Articles
9.7 Million Student Loan Borrowers Delinquent After Pandemic Pause Ends, Fed Says - News Facts Network
Roughly 9.7 million student loan borrowers became delinquent on payments after the pandemic-era pause ended,... The post 9.7 Million Student Loan Borrowers Delinquent After Pandemic Pause Ends, Fed Says appeared first on News Facts Network.
Nearly 10 million student loan borrowers risk credit hit - Washington Examiner
Approximately 9.7 million student loan borrowers fell behind on their payments after the COVID-19 pandemic-era payment pause ended, according to a new estimate from the Federal Reserve Bank of New York. “After payments resumed, the volume of past due federal loans quickly returned to pre-pandemic levels and reached a new high of 15.6 percent by the end of the on-ramp period, with more than $250 billion in delinquent debt held by 9.7 million bor…
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