Millions of student loans are late on payments

After a five -year break on the penalty of borrowers for not having made student loan payments, the federal government abandoned the hammer. He asked his loan agents to start to point out that delayers for delays for credit offices at the start of the year.

The result: millions of borrowers have seen their credit ratings diving in recent months, and loan agents warn that a record number of borrowers are likely to be defecting by the end of the year.

According to government data.

Loan officers believe that this year, around four million people have credited late payment offices, and researchers from the Federal Reserve Bank of New York project, this number will climb nine million people by the end of June.

These growing figures have more implications for the broader economy, which has already shown signs of slowing down. Low credit notes can prevent people from renting or buying houses and pushing them in more expensive and risky loans for cars, emergency money and other daily needs.

“This is not a problem that we want to add to the battery,” said Preston Cooper, economist and principal researcher at the American Enterprise Institute, a conservative reflection group about student loan delinquations.