Report

Student Loan Trends in the Third Federal Reserve District

Abstract: The state of the student loan market has received much attention in recent years, as the number of borrowers and their collective debt have risen dramatically. These trends have been particularly problematic in the wake of the 2007?09 recession because increased unemployment and suppressed income impair borrowers? ability to make payments on their loans. This report outlines the recent history of student borrowing in the Third Federal Reserve District and explores lending patterns, by the neighborhood income of the borrower, to better understand the implications for low- and moderate-income communities. Areas for further research to broaden understanding of the issue are also identified

Keywords: middle-income; student loan debt; unemployment; low-income; student loans;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Cascade Focus

Publication Date: 2014-04

Order Number: 3