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Student loan delinquencies surge, sending credit scores plunging for borrowers

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Summary
Nutrition label

86% Informative

New York Fed releases quarterly report showing household debt rose by $167 billion .

Overall, credit card debt declined by $29 billion , but delinquency rate for student loans surged from below 1% to nearly 8% .

Student loan delinquency rates have returned to the pre-pandemic 'normal' with more than 10% of balances past due or in default.

VR Score

92

Informative language

96

Neutral language

25

Article tone

semi-formal

Language

English

Language complexity

57

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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no affiliate links