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TBL Thinks: Student Loan Delinquencies and Underwater Mortgages

Chandni Bhatia and Nik Bhatia

Jun 25

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Dear Readers,

It’s Thinking Time! This week, we cover the post-pandemic effects on student loans and housing. We analyze student loan delinquencies as pandemic forbearance measures are lifted, leaving two million borrowers at risk of docked pay this summer. We also cover underwater mortgages and their rising numbers in pandemic boomtowns.

TBL Thinks is our way to summarize the most important paywalled, longer reads relevant to global macroeconomics, helping you cut through the noise. With that in mind, please enjoy.

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Student Loan Woes for Millions

Federal student loan borrowers are missing payments at the highest rate on record, Bloomberg reports. Almost 6 million people (a third of the borrowers) have not made a payment in 90 days. This highest rate in delinquencies since TransUnion began collecting data in 2012 is driven by the US Department of Education restarting collections on defaulted loans after five years and elevated inflation. Borrowers missing payments are once again being reported to credit agencies and affecting the credit scores of millions of people, with delinquent borrowers losing an average of 60 points from their credit scores...

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