Student Loan Debt

Growth Rate of Student Loan Debt Doubles During Coronavirus Pandemic

The rate by which student loan debt grows has doubled since the Chinese coronavirus pandemic started, reaching record-high levels. Experian found that most of the new debt can be federal loan payment pause, a coronavirus relief measure that appears to have incentivized consumers not to pay off their existing debt while they borrow more money.

An employee at a money changer counts USD 100 bills in Manila on October 25, 2012. AFP PHOTO/NOEL CELIS