Student-Loan-Press-Briefing-Presentation

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Proportion of borrowers with payment problems by cohort and income • While default and delinquency rates were stable for higher income area borrowers across the three cohorts, more recent cohorts from higher income areas had a larger proportion who had not paid down • About half of the 2009 cohort are having payment difficulties on their loans (having either defaulted, gone delinquent or made no progress paying off their balance) • Repayment difficulties are particularly prevalent in borrowers from lower-income areas, where about 2/3 of borrowers have had some sort of repayment difficulty • In contrast, just over 1/3 of the borrowers from the highest income areas have had repayment difficulties 30
2009 cohort repayment rates by income Proportion of balance remaining by ZIP income 100% 95% 90% 85% 80% 75% 70% 65% 60% 1 year 2 years 3 years 4 years 5 years (years after leaving school) less than 40k 40k-60k 60k-80k 80k+ Source: FRBNY Consumer Credit Panel/Equifax 31
Page 1 and 2: Student Loan Borrowing and Repaymen
Page 3 and 4: Researching student borrowing • W
Page 5 and 6: Student loans increased as other de
Page 7 and 8: Increases among borrowers of all ag
Page 9 and 10: Significant heterogeneity in amount
Page 11 and 12: Number of active borrowers peaked i
Page 13 and 14: Larger rise in level of lower incom
Page 15 and 16: Wrapping up, part 1 • Student deb
Page 17 and 18: Distribution of payment history Sna
Page 19 and 20: Defaults and default rate Thousands
Page 21 and 22: Default rate by school leaving coho
Page 23 and 24: 5-year cohort default and delinquen
Page 25 and 26: 5-yr Cohort default and delinquency
Page 27 and 28: Student loan repayment behavior Stu
Page 29: 5-year cohort repayment difficultie
Page 33: Wrapping up • These results are f

Student-Loan-Press-Briefing-Presentation

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