Part 7/10:
A uniquely pervasive form of debt is student loans, which have ballooned from less than $500 billion to nearly $1.88 trillion over the last two decades. These loans are primarily held by the federal government, linking taxpayer dollars to private borrower struggles.
The resumption of student loan payments post-pandemic has stressed borrowers even further, with over 20% currently 90 days or more past due—almost double the delinquency rate seen before COVID-19. This creates a challenging predicament, where high payments can hinder the financial stability of many, especially among younger generations.