Student Loan Survey: Most Borrowers Are Stressed About Repayments [Experian]

Student loans have consistently shown up in the US news cycle since President Biden’s debt forgiveness plan was struck down by the Supreme Court in June, and following the historical resumption of federal student loan payments in October. Today, the consensus among borrowers nationwide is that student debt is causing more stress than they could have imagined at the beginning of 2023.

Experian recently surveyed over a thousand student loan borrowers, hoping to gain more insight into the aforementioned stress about the resumption of student loan payments. They found that borrowers are also concerned about making payments on time and in full over the next year. Financial stability has seen significant turbulence as of late. However, in the analysis posted alongside the survey, Experian noted that the full impact of this student loan resumption has yet to shake out and will continue to see a ramp-up throughout 2024.

On the bright side, Peanut Butter was built to support employers in reducing the financial stress caused by student debt for their employees. Not only can our clients help these individuals get out of debt faster through direct contributions toward their loans. But also through the tools and action list provided as a part of all Repayment programs with Student Loan Resources. All of this points to the fact that employers have a golden opportunity to offer Student Loan Assistance to their team members and immensely stand out in the market for talent.

Learn more about Experian’s survey, and read the original article at: