Credit unions continued to increase their role as secondary lenders for college students last year, with their private student loan portfolios growing faster than those of other private lenders and the federal government.
Borrowers requested forbearance on their private student loan payments at a higher rate last fall because of hurricanes and other natural disasters, according to executives of MeasureOne Inc. during an online discussion Wednesday of their semi-annual report on private student loans.
Total student loans increased 6.3% to $1.5 trillion as of Sept. 30, 2017, according to the Fed's latest Consumer Credit report.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
