The Trump administration has moved aggressively to restart student loan collections, and a record number of borrowers can’t keep up. The result is showing up in a damaging and lasting way: A generation of young Americans are watching their credit scores collapse.
Credit scores are a core part of personal finance in the U.S. They determine Americans’ access to favorable loans and credit cards, and can even factor into applying for a job. Having good credit is especially relevant for young people, who can benefit the most from better loan terms and job opportunities as they make major financial decisions.
