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- May 22, 2013
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Unless Biden's reanimated corpse extends the pandemic forbearance, borrowers are expected to resume payments in February. This probably isn't going to go well...
A new survey from Student Debt Crisis Center, a non-profit focused on student loan debt, found some alarming statistics about student loans and student loan repayment:
If you have outstanding student loans, will you be able to resume payments?
Do you think Biden will blink and extend the deadline again, given rising inflation, the ongoing pandemic and economic precarity?
Does the "great resignation" signify an impending great student loan default? Personally, I hope everyone refuses to pay. Fuck 'em.
A new survey from Student Debt Crisis Center, a non-profit focused on student loan debt, found some alarming statistics about student loans and student loan repayment:
- 89% of fully-employed student loan borrower say they aren’t “financially secure” enough to restart federal student loan payments on February 1
- 21% say they will never be financially secure enough to make any student loan payments again
- 27% of respondents say that at least 33% of their income will go toward student loans when payments resume in February
- 10% of respondents say at least 50% of their income will go toward student loan payments
- 44% of fully-employed student loan borrowers said they cannot afford their monthly student loan payments or are in student loan default
- 45% of respondents say their financial wellness is currently poor or very poor compared with 25% who said said the same prior to the Covid-19 pandemic
If you have outstanding student loans, will you be able to resume payments?
Do you think Biden will blink and extend the deadline again, given rising inflation, the ongoing pandemic and economic precarity?
Does the "great resignation" signify an impending great student loan default? Personally, I hope everyone refuses to pay. Fuck 'em.