Reported about 7 hours ago
A recent analysis by TransUnion reveals that about 4 million federal student loan borrowers, or 20.5%, are seriously delinquent on payments, significantly higher than pre-pandemic rates. As the Department of Education resumes federal loan collections post-Covid pause, many borrowers are experiencing financial strain, with almost 51% of subprime borrowers struggling to keep up with payments. The analysis highlights the potential long-term impact on credit scores and the challenges borrowers face amid rising interest rates.
Source: YAHOO