https://sputnikglobe.com/20220915/more-than-half-of-us-student-loan-borrowers-cannot-afford-resuming-payments-poll-suggests-1100818240.html
More Than Half of US Student Loan Borrowers Cannot Afford Resuming Payments, Poll Suggests
More Than Half of US Student Loan Borrowers Cannot Afford Resuming Payments, Poll Suggests
Sputnik International
WASHINGTON (Sputnik) – More than half of US student loan borrowers say they will not be able to afford their loan payments when the current moratorium expires... 15.09.2022, Sputnik International
2022-09-15T13:15+0000
2022-09-15T13:15+0000
2022-09-15T13:15+0000
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Fifty-eight percent of respondents reported that they would either "probably not" or "definitely not" be able to afford their payments. Women (66%) and adults in households earning less than $50,000 per year (68%) were more likely to be unable to make their payments.The average borrower has about $29,000 in student loan debt. Of those who owe $25,000 or less, 54% said that paying their loans was unaffordable.The survey was conducted on August 27-28 among 715 US adults with student loans.The White House announced last month that student loan payments will resume next year and at least $10,000 of student loan debt will be canceled for each eligible borrower. In March 2020, amid the onset of the COVID-19 pandemic, the Department of Education granted forbearance to holders of federal student loans, with an estimated 60% of all borrowers taking advantage of the program.
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More Than Half of US Student Loan Borrowers Cannot Afford Resuming Payments, Poll Suggests
WASHINGTON (Sputnik) – More than half of US student loan borrowers say they will not be able to afford their loan payments when the current moratorium expires in January, according to a Morning Consult poll released Thursday.
Fifty-eight percent of respondents reported that they would either "probably not" or "definitely not" be able to afford their payments. Women (66%) and adults in households earning less than $50,000 per year (68%) were more likely to be unable to make their payments.
The average borrower has about $29,000 in student loan debt. Of those who owe $25,000 or less, 54% said that paying their loans was unaffordable.
The survey was conducted on August 27-28 among 715 US adults with student loans.
The White House announced last month that
student loan payments will resume next year and at least $10,000 of student loan debt will be canceled for each eligible borrower. In March 2020, amid the onset of the COVID-19 pandemic, the Department of Education granted forbearance to holders of federal student loans, with an estimated 60% of all borrowers taking advantage of the program.
