/biz/ - Business & Finance

>>55956788

>>55785178
Generational debt

>The New York Fed's data reveals that millennials in their 30s are accumulating debt at an alarming rate and are struggling with credit card and auto loan repayments. Delinquency rates in these areas have soared, further compounding their financial difficulties.

>A key factor in this story is how student debt has affected millennials' financial situation. According to a survey by Legal & General, more than one-third of millennials say their student loans have prevented them from buying a home. This shows that student debt has been a significant barrier for millennials in achieving their goal of homeownership and overall financial stability. The interest-free payment pause, also known as forbearance, was initially implemented as an emergency measure in response to the COVID-19 pandemic under the Trump administration in March 2020. Over the course of three years, this relief measure was extended nine times. But with its expiration, borrowers must adjust to the reality of making student loan payments again.

Anons I don't feel so good right now...

>The New York Fed's data reveals that millennials in their 30s are accumulating debt at an alarming rate and are struggling with credit card and auto loan repayments. Delinquency rates in these areas have soared, further compounding their financial difficulties.

>A key factor in this story is how student debt has affected millennials' financial situation. According to a survey by Legal & General, more than one-third of millennials say their student loans have prevented them from buying a home. This shows that student debt has been a significant barrier for millennials in achieving their goal of homeownership and overall financial stability. The interest-free payment pause, also known as forbearance, was initially implemented as an emergency measure in response to the COVID-19 pandemic under the Trump administration in March 2020. Over the course of three years, this relief measure was extended nine times. But with its expiration, borrowers must adjust to the reality of making student loan payments again.