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How Banks Should Prepare for the Return of Student Loan Repayments

How Banks Should Prepare for the Return of Student Loan Repayments

By: Wendy Elieff, SVP Client Service and Marketing, TriVerity and The Loan Service Center The U.S. Department of Education’s COVID-19 relief for student loan payments ended this month. Interest on student loans resumed at the beginning of September, and payments will be due starting in October. We have already seen an increase in delinquencies at the start of 2023, and without further debt relief, we will likely see another uptick when student loan payments resume. Both financial institutions and borrowers must plan and prepare for the resumption of student loan payments to avoid late...

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