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Published: Jan 06, 2023 4 min read
- [ ] News-Student-Loan-Borrowers-Financial-Trouble
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People who have federal student loans are disproportionately struggling to pay their other bills, even though their student loan payments have been paused since March 2020.

Those borrowers would be in even deeper financial trouble when payments finally resume if President Joe Biden's student loan forgiveness plan is blocked, a study from the New York Federal Reserve suggests.

Economists at the NY Fed analyzed the credit reports of borrowers with federal student loans and compared them with other types of student loan borrowers as well as folks with no student debt at all. They found that those who have student loans that are potentially eligible for Biden’s forgiveness plan are more likely than their peers to be behind on their credit card and auto loan debts right now.