Resuming student-loan payments this year without Biden's debt cancellation could be especially harmful to borrowers with auto and credit card debt, the NY Fed says

Jan 4 2023 by Business Insider

 

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Even if the Supreme Court strikes down student-debt relief, payments will likely resume this year. This could be particularly harmful for borrowers with other forms of debt, the NY Fed said. Delinquencies on credit cards and car loans rose as pandemic relief programs expired.

Even without President Joe Biden's broad student-debt relief, the Education Department has made clear payments will resume this year.

That's not good news for borrowers — but especially those with other...

Continue Reading Resuming student-loan payments this year without Biden's debt cancellation could be especially harmful to borrowers with auto and credit card debt, the NY Fed says