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U.S. Student loan debt statistics you should know in 2023

Credit Corp

million Americans have student loan debt, which totals over $1.7 If you owe tens of thousands of dollars in student loan debt, you’re not alone. According to the Federal Reserve’s Consumer Credit report, 43.5 million Americans have some form of federal or private student loan debt. 2021 37 10.2

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Nevada Enacts Law Imposing Licensing Requirements and Regulations on Student Loan Servicers

Troutman Sanders

On June 14, Nevada Governor Joe Lombardo signed into law AB 332 , An Act Relating to Student Education Loans, requiring, among other things, student loan servicers to be licensed by the Commissioner of Financial Institutions and regulating certain conduct of the servicers towards borrowers.

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Are Student Loan Holders at Risk as Deferments Expire?

Fico Collections

Home Blog FICO Are Student Loan Holders at Risk as Deferments Expire? Here we present results of our research into FICO® Score dynamics for holders of student loan debt between 2021 and 2022, to give an indication of key factors that seem to accompany large decreases in the FICO Scores of this population.

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What Does 2023 Have in Store for U.S. Credit Risk and FICO Score Trends?

Fico Collections

Credit Risk and FICO Score Trends? And that’s because it generally takes a few months for the effects of that event and the accompanying financial strain to start to show up in consumerscredit reports, such as in the form of rising balances, credit seeking behavior, and eventually for some, missed payments.

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BNPL in Credit Reports: How Could This Data Impact FICO Scores?

Fico Collections

BNPL loans are cited as a potential driver of greater financial inclusion, both in terms of consumer access to the BNPL loan themselves, as well as access to credit products that could enable unbanked and underbanked consumers to establish (or re-establish) their credit histories with one or more of the Consumer Reporting Agencies (CRAs). .

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Top Money-Saving Tips and Tricks to Beat 2020 Holiday Debt

Credit Corp

You could also: Put together a realistic debt-repayment plan Increase your income with a better-paying job, or ask your boss for a raise Ask your lenders for a lower interest rate Consider consumer credit counseling Concentrate on one debt at a time to avoid feeling overwhelmed. >> Download our free budget template to get started.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

For more information, click here. On May 1, Oklahoma Governor Kevin Stitt approved HB1443.