New study comes as the Biden administration seeks new ways to write down student loans or make repayment manageable, after its wider debt-forgiveness plan was struck down by the Supreme Court last year.
(Bloomberg) More than half of Americans who’ve failed to pay student-loan bills since the October restart said the main reason was that payments were unaffordable, according to new research by the Federal Reserve Bank of Philadelphia.Most Read from BloombergPutin Orders Hunt for Property of Russian Empire, Soviet UnionFord Cuts Workforce Making Electric F-150s on Weak DemandYouTube and Spotify Won’t Launch Apple Vision Pro Apps, Joining NetflixS&P 500 Hits All-Time High in Historic Bull Run:
Most Americans Who Failed to Pay Student Loans Say They Can t Afford to Keep Up bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
“We're monitoring how borrowers are doing very, very carefully,” said James Kvaal, who’s in charge of the Education Department’s restart of student loan payments.
“We're monitoring how borrowers are doing very, very carefully,” said James Kvaal, who’s in charge of the Education Department’s restart of student loan payments.