ABA – “With few exceptions, all law school graduates are impacted by student loan debt. And for many, that debt continues to grow after graduation, impacting personal lives, career paths, and mental health. The 2020 ABA YLD Law School Student Loan Debt Survey Report examines the issues at the heart of the student loan crisis,… Continue Reading
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Search Results for: student loans
2019’s Cities with the Most & Least Student Debt
Wallet Hub: “Post-college debts represent one of the biggest financial burdens to Americans. In fact, student loans make up the second highest form of household debt after mortgages, totaling $1.5 trillion. But how burdensome are the individual loans? According to one study, the share of students graduating with $50,000 or more in student loan debt… Continue Reading
Household Debt Reaches New Peak Driven by Gains in Mortgage, Auto, and Student Debt
Federal Reserve Bank of New York: “The Center for Microeconomic Data’s latest Quarterly Report on Household Debt and Credit reveals that total household debt achieved a new peak in the first quarter of 2017, rising by $149 billion to $12.73 trillion—$50 billion above the previous peak reached in the third quarter of 2008. Balances climbed… Continue Reading
Report focuses on debt of older student loan borrowers
CFPB: “Today, we released a report that shows that older Americans now carry an unprecedented amount of student loan debt into retirement. The report shows that over the last decade, the number of older student loan borrowers has quadrupled in the United States. The amount that these borrowers owe has also dramatically increased. Between 2005… Continue Reading
GAO Report – Social Security Offsets and Older Student Loan Debt Collection
Social Security Offsets: Improvements to Program Design Could Better Assist Older Student Loan Borrowers with Obtaining Permitted Relief, GAO-17-45: Published: Dec 19, 2016. Publicly Released: Dec 20, 2016. “Older borrowers (age 50 and older) who default on federal student loans and must repay that debt with a portion of their Social Security benefits often have… Continue Reading
GAO reports on student loan debt forgiveness topping $100 Billion
Federal Student Loans: Education Needs to Improve Its Income-Driven Repayment Plan Budget Estimates, GAO-17-22: Published: Nov 15, 2016. Publicly Released: Nov 30, 2016. “For the fiscal year 2017 budget, the U.S. Department of Education (Education) estimates that all federally issued Direct Loans in Income-Driven Repayment (IDR) plans will have government costs of $74 billion, higher… Continue Reading
Beyond the Standard Repayment Plan: Smaller Student Loan Payments and Short-Term Outcome
Urban Institute,K ristin Blagg, September 15, 2016: “Borrowers have more choices than ever for paying down their student loans. Although many borrowers still automatically enroll in standard 10-year, fixed-payment plans, some opt to enroll in programs that allow smaller monthly payments, such as income-driven repayment plans, or plans with longer repayment periods. I present a… Continue Reading
Blog Series: The Higher Education Market and Student Debt
New York Fed – Liberty Street Economics Blog (first of four blog postings): “The past decade and a half has seen dramatic changes in the higher education landscape, characterized by significant growth in enrollment. This growth has been concentrated mostly in for-profit schools, where enrollment skyrocketed in the first decade of the period, nearly quadrupling… Continue Reading
CFPB – Midyear Update on Student Loan Complaints
“This midyear update analyzes complaints submitted by consumers from October 1, 2015 through May 31, 2016. During this period, the Bureau also began handling complaints about problems managing or repaying federal student loans; this is the first report released by the Bureau discussing data on federal student loan servicing complaints. This report highlights the problems… Continue Reading
Education Dept releases student loan delinquency data
“The office of Federal Student Aid is responsible for directly managing or overseeing an outstanding federal student loan portfolio comprised of billions of dollars in Title IV loans and representing millions of borrowers. This federal student loan portfolio includes Direct Loans, Federal Family Education Loans (FFEL), and Perkins Loans with outstanding balances. The reports here… Continue Reading
Mid-year update on student loan complaints 2015
“The CFPB received more than 3,100 private student loan complaints between October 1, 2014, and March 31, 2015, a 34% increase over the prior reporting period. The CFPB also received approximately 1,100 debt collection complaints related to student loans during this period. Many private student lenders advertise options to release a co-signer from a private… Continue Reading
Student Loan Delinquency: A Big Problem Getting Worse?
Student Loan Delinquency: A Big Problem Getting Worse? by Juan M. Sánchez and Lijin Zhu in Economic Synopses, 2015, No. 7. St. Louis Fed. “A delinquency rate of 15 percent for all student loan borrowers implies a delinquency rate of 27.3 percent for borrowers with loans in repayment. Over the past decade, the percent of… Continue Reading
