Search
 
Expert Opinion

What Credit Unions Need to Know Now About Student Lending

Between private student loans and loan refinancing, there’s a significant opportunity for CUs to help their members.

By Ryan Giffin | March 03, 2023 at 09:00 AM
Graduation cap sitting on top of a pile of money. Source: Shutterstock.

A lot of people are talking about student loans right now, specifically about federal student loan forgiveness and what it means. But there’s still plenty going on outside of forgiveness, with notable signs the student lending landscape may be changing back to pre-pandemic patterns.

Last year saw the lowest year-over-year increase in student loan debt in a decade, even with a 2.7% increase in 2021 over 2020, as reported by Sound Dollar. This isn’t a cause for concern, however, because it was attributable in large part to the pandemic and the many relief efforts put in place to alleviate economic burdens during that time such as pauses in student loan repayment.

Dig Deeper

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.