Risk of student loan default on the rise
A survey conducted by the Institute for College Access and Success has uncovered that a concerningly high proportion of student loan borrowers may be in delinquency or default.
Investigators warned of an impending default cliff, according to a news article from Inside Higher Ed. They stressed that the risk of defaulting on student loan repayments has risen since the end of the 2020 pause on repayments.
The respondents reported that student debt has delayed their ability to save for the future — including retirement and homeownership. The experts concluded that borrowers in delinquency could face severe punitive consequences for defaulting on their repayments.
Read more: Inside Higher Ed
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