America's next debt crisis is here
Community Score: 50% | 21.5K views | 4d
0 community ratings: null thumbs up, null thumbs down
Get Proton Mail & Proton Drive together for FREE! Keep your emails and cloud storage secure with end-to-end encryption: https://proton.me/monkeyexplains Student debt has locked an entire US generation out of the housing market, and the economy is starting to feel the pinch. student loan default drops a borrower’s credit score by 91 points on average, and right now - nearly 9 million Americans are now in default, the highest number ever recorded, with $220 billion in loans sitting in default. All while only 4.5% of Gen Z owns a home, compared to 73% of baby boomers, the widest generational homeownership gap on record. This is what happens when every safety net gets pulled at once, and the damage has only just begun. In this video, I’ll break down: - Why student loan defaults hit record highs after the COVID payment pause and credit-reporting grace period ended - How the collapse of the SAVE plan and the return of student loan interest created a double whammy for borrowers - Why a
More from MonkeyExplains
- The One Crisis China Can't Fix — Score: 50%
- Big Tech Can't Hide This For Much Longer — Score: 50%
- Is America Winning Yet? — Score: 50%
- The US Debt Crisis Has Reached a Breaking Point — Score: 50%
- OpenAI's Financial Crisis is Worse Than You Think — Score: 50%
- America's Job Market Is Completely F*cked — Score: 50%