Seventy percent of middle-income Americans polled say student loans are impacting their ability to achieve financial prosperity.
Middle-income Americans believe student loan payments will affect their goals of prospering financially, according to a new survey, as borrowers across the country resumed settling their debt this month, three years after pauses were instituted to give relief to families during the COVID-induced economic crisis.The Santander Survey conducted early last month and released on Monday comes at a time that Americans are feeling increasingly precarious over their financial futures.
Research shows that the average monthly payment is $200 to $300 per month, about 5 percent of a U.S. median salary. The repayments of student loans reduce about 0.4-0.6 percent of total U.S. annual consumption, according to Wells Fargo, whose analysis said that it could lead to some households to turn to credit cards to finance their spending.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Domino’s Is Giving Out Free Pizza to Customers with Student LoansThe freebie deal is a part of Domino's Emergency Pizza program
Read more »
Live blog: Hindering Gaza aid could be a crime — ICC prosecutorPalestinians in northern Gaza report fierce air and artillery strikes on day 24 of the war, as Israeli troops backed by tanks press into the besieged enclave with a ground assault.
Read more »
Personal loan interest rates edge down for 5-year loansThe latest trends in interest rates for personal loans from the Credible marketplace, updated weekly.
Read more »
Should retirees use their home equity?Home equity loans could help retirees with unexpected expenses, supplemental income and more.
Read more »
Social Security payments could be cut over student loan defaultSeniors who default on their student loans could see benefits garnished. But there are ways to save.
Read more »
Biden administration is moving toward a narrower student loan relief targeting groups of borrowersThe draft proposal would give the department authority to wipe away federal student loans entirely for borrowers in some categories
Read more »