US student loan balances remained mostly flat in Q1 at $1.66 trillion, but delinquency rates surged to 10.3% sequentially from 9.6% in Q4 amid rising inflation and energy prices, jobs market volatility, and geopolitical uncertainty.
As Americans navigate low wage growth rates and the rising prices of essentials and gas, many who carry federal student debt and studied in a college that engaged in misconduct are receiving notifications for a total forgiveness of their outstanding debts. This move could come as a major relief for many US households.
