In late August, the Biden-Harris administration announced their long-awaited plans for easing the financial burden of the millions of Americans who hold federal student loans. Included in the plan was a final extension of the federal student loan payment pause to 12/31/22, forgiveness of some level of federal student loan debt, and significant changes to the income-based repayment plan available to federal borrowers. While this was a major announcement, are there even more changes on the horizon? And how will these measures impact private student lending and our members’ need for credit union financing assistance moving forward?
Watch this session to get answers to these important questions and much more, including:
• Impact of inflationary pressures and rising college costs on private student lending
• Balance sheet considerations related to costs, liquidity concerns, and member acquisition growth
• New custom lending opportunities supporting credit union field-of-membership partnerships
• Competition, fintech pressures, and the digital lending marketplace