Posted on 03/26/2025 7:43:44 AM PDT by millenial4freedom
Around 9.7 million student loan borrowers became past-due on their bills after the Covid-era payment pause expired, according to a new estimate by the Federal Reserve Bank of New York.
After the Covid-era pause on federal student loan payments expired in September 2023, the Biden administration offered borrowers a 12-month “on-ramp” to repayment. During that time, borrowers were shielded from most of the consequences of falling behind on their payments. That relief period expired on Sept. 30, 2024.
By the end of the off-ramp period, the New York Fed estimates that the volume of past-due federal student loans hit 15.6%, with over $250 billion in delinquent debt.
“According to these numbers, it is reasonable to expect student loan delinquency to surpass pre-pandemic levels when new delinquencies hit credit reports,” the Fed’s report says.
Around 9.7 million student loan borrowers became past-due on their bills after the Covid-era payment pause expired,
These are the Kamala voters you see showing up the Republican town halls screaming like banshees and Sanders and Sandy puppet shows attendees who tell the “media” they “voted for Trump.”
This is gonna put a dent in EuroPeon tourism. A lot of pubs will be going broke without all these “students” over there galivanting around the countryside. LOL!
Ah time for the Karens to pay the piper. Btw, this could be solved by making university endowments pay for this.
No one has clearly explained how government can mandate a pause on paying back a debt where the borrowers freely signed that paperwork in the contract. Somehow the lenders are supposed to absorb the loss ? Fascinating……..,
Another Govt eff up. Universities and colleges jacked up the costs of tuition because they could get paid while sticking it to the students and ultimately the taxpayers if those loans go into default. So many worthless degrees too plus a portion of the student loans never result in completion of degrees. What a racket.
Try this with income taxes and see what happens ...
I paid every dime of my student loans and the government got a good deal out of it with the increase in taxes I paid as a result.
Nobody talks about the obvious. The money students borrowed was paid to the colleges and universities who are SITTING ON BILLIONS IN ENDOWMENTS.
MAKE THE COLLEGES REPAY THE DELINQUENT STUDENT LOANS...NOT THE TAXPAYERS. THE COLLEGES HAVE A MOUNTAIN OF MONEY !
Hey HEY, kids!...Go back to Sesame Street!
People who pay off their student loans feel like idiots every time a president forgives those loans. The people with loans are conditioned to wait because eventually, those loans will be forgiven. But loans paid off will not be refunded. That’s where we are. It will remain thus until collectors start showing up at their door, seizing bank accounts and garnishing wages.
Golly. I thought lunch bucket Joe waived all those debts.
This link is in the attached article.
The second chart and accompanying paragraphs indicatie the delinquency rate was about 14-15% before the world wide kerfuffle.
there are no lenders anymore, the government under Obama took over all the loans from lenders.
Hold them accountable. Seize their assets. Pathetic bums with no integrity and worthless degrees.
They should all organize, get together and stop paying.
Let the universities/faculties pay for those worthless degrees.
So invalidate their degrees.....🤔
The student loan forbearance was passed to allow the borrowers to kick the can down the road during covid for people that were/are still on the hook for the loans. It gave some relief to people that lost jobs because of mandatory government shutdowns. My take is that people who didn't lose their jobs should have continued to pay back the loans.
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