Student Loan Bankruptcy: How Costly Can It Be in the Long Run?
“Bankruptcy: a costly solution to student loan debt?”
“Bankruptcy: a costly solution to student loan debt?”
Student loan payments resume, with interest accruing–a harsh reality for borrowers. The U.S. Department of Education recently announced that student loan payments are set to resume on October 1, 2023 with loan debt to start accumulating interest again in September 1, 2023.
The student loan crisis has become a major issue in the United States, with over 44 million Americans owing a collective total of over $1.5 trillion in student loan debt. This crisis has had a significant impact on the economy, and has caused a great deal of financial stress for many students and graduates. In this article, we will take a closer look at the student loan crisis, examining the key factors that have led to it and the impact it has had on individuals and the economy.