As student loan default rate spikes, some borrowers face 'grave consequences,' New York Fed says

Contributing sentiments towards policy:

51% : However, in a blog post, the researchers noted that "the ramifications of student loan delinquency are severe.
46% : Between their credit card balances, mortgages, auto loans, home equity lines of credit and student debt, Americans owe a record $18.2 trillion, according to a new quarterly report on household debt from the Federal Reserve Bank of New York.
45% : " The delinquency rate for student loan balances spiked after a nearly five-year pause due to the pandemic, the New York Fed found.
44% : More from Personal Finance: Wage garnishment for defaulted student loans to begin What loan forgiveness opportunities remain under Trump Is college still worth it?

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