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.
Joe Biden co-signed these loans did he not ?
Studying to be bankers?
If they would have paid during the freeze it would probably be paid off, but nooooo. Pedo Joe is going to forgive my loan just wait and see.
Joe is they one that made it where student loans could not be discharged in a bankruptcy.
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