Techno-News Blog

Jason Jabbari, et al; Brookings Institution
On January 20, 2020, the United States reported its first confirmed case of COVID-19. By March 13, New York City had declared a state of emergency. To better understand the influence of COVID-19 on American household finances, the Social Policy Institute at Washington University in St. Louis conducted a nationally representative survey with approximately 5,500 respondents in all 50 states from April 27 to May 12, 2020. Within our sample, roughly one-fourth of households (24 percent) had student loans with an average balance of $30,118 (median amount = $14,750). Of 1,264 households with student loans, roughly one-fourth (23 percent) reported being behind on their student loan payments, and over half of these households (58 percent) reported that they were behind on their student loan payments as a result of COVID-19.

https://www.brookings.edu/blog/up-front/2020/08/05/low-income-households-falling-further-behind-on-student-debt-due-to-covid-19/