Millions of borrowers are student loans in the past after restarting the bills: Federal Reserve

About 9.7 million student loan borrowers who became entitled to their bills after the end of the paid period of the Kofid era, according to what I said. New estimate By the Federal Reserve in New York.

After a temporary stop in the Kofid era on federal loan payments in September 2023, the Biden administration offered to borrowers for 12 months “On the slope” to pay. During that time, borrowers were protected from most of the consequences of their defaults. Which – which The relief period I finish September 30, 2024.

By the end of the outside of the slope, the Federal Reserve in New York estimates that the volume of previous federal students ’loans has reached 15.6 %, with more than $ 250 billion of later debts.

“According to these figures, it is reasonable that we expect that the student loans will exceed prenatal levels when the new wings collides with credit reports,” says the FBI report.

The delinquency of a new student’s loan can cause the borrower Credit To drop more than 150 points, the Federal Reserve warns.

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