Late payments on student loans dip in 4th quarter
NEW YORK — Statistics for one quarter don't make a trend, but a drop in the rate of late payments for student loans in the last three months of 2009 may be a promising sign.
In its first publicly released examination of private student loan payment data, credit reporting agency TransUnion said the ratio of private student loans that were 90 days or more past due fell to 6.03 percent in the 2009 fourth quarter, reversing a five-quarter trend.
The fourth-quarter rate dropped from a 6.34 percent late-payment rate in the third quarter.
But compared with the rate of 5.4 percent in the 2008 fourth quarter, late payments jumped.
The ratio's ups and downs reflect what's going on with other consumer borrowing like mortgages and credit cards, said Thomas Morrissey, manager of TransUnion's Analytic and Decisioning Services. Over the past few years, late payments for all three climbed sharply due to the spike in the unemployment rate at a time when households carried a lot of debt.
But the drop in the fourth quarter could mean positive news ahead, because consumers appear to be gaining control over their debt.
Fewer new private student loans made during the last two years, and a higher number of co-signers on those loans are also likely to help reduce the overall delinquency rate this year, he said.
Morrissey noted t
|
|
 |
 |
|
Several Types of Federal Student Loan
There is rarely a university student that comes through to graduation without needing to draw off a loan With so many things to purchase and very little money while attending college, many university students graduate only to find that the Federal student loan debt that they've accrued is an atrocious amount and that the defrayments that they must make monthly takes up the biggest part of their revenue
Late payments on student loans dip in 4th quarter
NEW YORK — Statistics for one quarter don't make a trend, but a drop in the rate of late payments for student loans in the last three months of 2009 may be a promising sign.
Working out your student loan
At the time of writing, the British Government has a student loan calculator that is designed to help you establish how much of a student loan you can expect to receive. Usually, at this time of year, young people who are approaching their A2 exams are reading up on student money advice to be found online and looking up various other student money tips.
Student Loan Repayment- Free Significant Guidepost For Students
It's difficult to provide accurate student loan repayment information, but we have gone through the rigor of putting together as much student loan repayment related information as possible. Even if you are searching for information somehow related to FAFSA promissory note, guaranteed student loans bad credit, Canadian federal student loan or direct government student loans this article should assist a great deal.
Benefitd of Private Student Loan
Private Student Loan
New health bill changes student loan procedures
WASHINGTON - Finalizing two major pieces of his agenda, President Obama on Tuesday sealed his health care overhaul and made the government the primary lender to students by cutting banks out of the process.
Forum: In recession, people can't afford student loans
The government must intervene now to prevent more young people from defaulting on their student loans. With high unemployment, few job opportunities and rising tuition rates, people cannot afford to pay for their education. Educational opportunity was supposed to be a way up and a way out for millions of poor and working-class Americans.
|
 |
|
