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Student loan borrowers face hits to credit score

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The more than 9 million student loan borrowers who are estimated to be past-due could experience "significant drops" in their credit scores, the Fed warns.
From CNBC
The fallout could be a sharp drop in credit scores that makes it harder, and costlier, to get credit cards, auto loans and more.
From Axios

Read more on News Digest

Late student loan bills can drop credit scores by up to 171 points, Federal Reserve warns
The more than 9 million student loan borrowers who are estimated to be past-due could experience "significant drops" in their credit scores, the Fed warns.
Student borrowers could see credit scores drop for late loan payments
Nearly 9.7 million student loan borrowers will see drops in credit scores, according to the Federal Reserve. Straight Arrow News Straight Arrow News
9 million student loan borrowers could see a serious hit to their credit scores, according to economists
If you have student loans, you might want to take a closer look at your credit score soon. More than 9 million student loan borrowers could see their credit scores plunge significantly over the next few months,
Record-breaking share of student loans marked delinquent, report says
About 16% of student loan balances were at least 90 days past due as of the end of 2024, the New York Fed estimates.
Pay the student loan debt, the credit card debt or the rent?
In March 2020, at the start of the pandemic, the federal government paused student debt payments. When they restarted more than three years later, the government told delinquent borrowers that missed payments wouldn’t impact credit scores until fall of 2024.
Student loan borrowers may see credit scores tumble, NY Federal Reserve says
The agency said the reason was that the U.S. Department of Education started reporting delinquent payments to credit firms. The New York Federal Reserve said that about nine million borrowers will see “significant drops in credit score once delinquencies appear on credit reports in the first half of 2025.
Judge says she won’t let the CFPB get dismantled for now. Why that matters for consumers and student-loan borrowers.
A federal judge is ordering the Trump administration to keep the lights on at the Consumer Financial Protection Bureau with an injunction that maintains the regulator’s operations and workforce — at least for now.
Here's how much a $300,000 home equity loan costs monthly now (and expert advice to know)
A $300,000 home equity loan can provide a huge financial boost to homeowners. Here's how much it costs per month.
DOJ investigating Rhode Island schools over loan forgiveness program only for 'educators of color'
The Justice Department has launched an investigation into a Rhode Island school district to see if its loan forgiveness program discriminates against White teachers.
Student Loan Delinquencies Soar As 9 Million Borrowers Fall Behind
Over 9 million student loan borrowers are delinquent. Learn how missed payments hurt credit scores and may trigger wage garnishment or loan default.
Student Loan Borrowers Face Major Change: What to Know
The Fed reports that a delinquency on a student loan payment can lower a person's credit score by 171 points. Those with excellent scores of more than 760 could lose this many points, while those with scores between 660 and 759 may face a drop of 165 points.
Student-loan borrowers can apply for affordable payments once again — what borrowers need to know
The Trump administration has brought income-driven repayment-plan applications back online, after borrowers spent weeks in limbo.
U.S. Postal Service worker charged with PPP loan fraud to get $40,000
Illinois Attorney General Kwame Raoul announced Thursday he's filed charges against a woman for fraudulently receiving tens of thousands of dollars from PPP loans while working for the postal service.
What Student Loan Protections Can We Lose if the CFPB Goes Away?
The Consumer Financial Protection Bureau, or CFPB, is a federal agency that helps protect consumers from financial harm. For millions of student loan borrowers, the CFPB has curbed predatory lenders and loan servicers. But the agency's future is in limbo, putting into question whether student loan protections will still be in place.
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