Student loan borrowers disproportionately experience different forms of material hardship relative to their nonborrower peers. Studies show that households with student debt have lower net worth and are more likely than their counterparts without student debt to be late on bill payments, be denied credit, experience bankruptcy, and have other financial difficulties.1 Because most borrowers take out student loans early in life, this debt uniquely affects borrowers abilities to build wealth and advance economically relative to other forms of debt.2
Two nationally representative longitudinal studiesBeginning Postsecondary Students (BPS) 2012/2017 and Baccalaureate and Beyond (B&B) 2008/2018, both conducted by the National Center for …
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