Smart Borrower Blog

Archive for the ‘Student Borrowing’ Category

Student Loan Delinquencies Outpace All Others

Jun 21st, 2017 @ 9:30 PM by Amber Nelson

While auto loan and credit card delinquencies are on the rise, they are extremely low compared to the rapid increase of student loans falling into delinquency. According to the Federal Reserve Bank of New York’s latest U.S. Economy in a Snapshot, “flows into serious delinquency for all loan types except student loans peaked during the […]

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Women Hold 64% of U.S. Student Loan Debt

May 24th, 2017 @ 9:42 PM by Amber Nelson

While women make up just over half (56 percent) of total U.S. college enrollment today, according to a new study, they carry almost two-thirds of the country’s student debt load. In the American Association of University Women’s (AAUW) recent report, several major gender discrepancies were found in student loan data. Currently, women owe $833 billion, […]

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Millennials Promise Job Loyalty for Student Loan Help

Mar 29th, 2017 @ 8:32 PM by Amber Nelson

Young American employees are finding it difficult to concentrate at work, according to a new survey by the American Student Assistance group, as they are constantly plagued by worries about how to repay their student loan debts. Millenials – those between the ages of 22 and 33 – have helped push the total amount of student […]

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U.S. Consumer Borrowing Growth Slows to 3-Year Low

Feb 15th, 2017 @ 1:39 PM by Amber Nelson

Even though American consumers continued to spend more money in December than they did in November, the increase was much lower than expected and the slowest pace since 2013. According to figures from the Federal Reserve, consumer debt increased by $14.2 billion in December 2016 from the month before. That is significantly below the $20 […]

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Number of Senior Citizens with Student Debt Quadrupled in Last 10 Years

Jan 18th, 2017 @ 9:38 PM by Amber Nelson

The past decade has conjured up a Mortgage Meltdown, a colossal Financial Crisis and the Great Recession. As a result more and more Americans in their golden years have taken on student loan debt for their children or grandchildren. According to a report from the Consumer Financial Protection Bureau, the number of people aged 60 […]

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Average Student Loan Debt Hits All-time High

Oct 19th, 2016 @ 12:34 PM by Amber Nelson

Last year, U.S. college graduates finished school with the highest average student loan debt to date, according to a new report from The Institute of College Access and Success and it is very likely the class of 2016 will have an even higher load. The class of 2015 had an average undergraduate borrower debt of $30,100, […]

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Survey: Saving for Kids’ Student Loans Takes Priority over Saving for Retirement

Sep 7th, 2016 @ 8:33 PM by Amber Nelson

College tuition costs have risen so steeply over the past decade that many parents are now more worried about saving up for their children’s student loans than about their own retirement needs. According to a recent T-Rowe Price survey, 67 percent of all households say saving for their kids’ college education is a higher financial […]

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New System to Simplify Federal Student Loan Experience

Jul 27th, 2016 @ 8:08 PM by Amber Nelson

Last week the U.S. Department of Education laid out a new system to make repaying federal student loans a smoother process, a fulfillment of its directive from the March 2015 Student Aid Bill of Rights. Since 2015, the DOE has been surveying borrowers, student loan industry players and consumer advocated to find out how to make […]

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Deferred Student Loans May Keep Buyers from Getting Mortgages

Jun 15th, 2016 @ 12:01 PM by Amber Nelson

New federal regulations are likely to stop many potential American home buyers from qualifying for an FHA mortgage. Lenders will now have to take into account any student loans in deferment, a situation which many keep many younger borrowers from making a home purchase. The Federal Housing Administration (FHA) has included a new rule in […]

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Consumers Taking on More Debt and Handling It Better

Jun 1st, 2016 @ 8:41 PM by Amber Nelson

U.S. consumers increased their overall debt load during the first quarter of 2016, according to new data from the New York Federal Reserve, and so far they seem to be keeping up with their payments better than the previous quarter. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit found that […]

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