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More Americans Are Falling Behind on Student Loans, and Nobody Quite Knows Why

Source Date: 
Thursday, September 28, 2017
Categories: 

More student debtors are falling behind on their federal student loans, after three years of declines in late payments—and with no clear explanation, experts aren’t sure whether to take it as a sign of distress or a temporary blip.

The share of Americans at least 31 days late on loans from the U.S. Department of Education ticked up to 18.8 percent as of June 30, up from 18.6 percent the same time last year, new federal data show 1  . About 3.3 million Americans have gone more than a month without making a required payment on their Education Department loans—up about 320,000 borrowers. 2

 

"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
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– Irwin "Professor" Corey
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