Student-loan borrowers are facing a key issue ahead of the midterms: affording their new monthly payments
Source: Business Insider ·
Over 10 million student-loan borrowers are behind on payments. Some are hoping the midterms will prompt policy change to protect those in default.
From the source
iStock; BIOver 10 million student-loan borrowers are behind on payments.Some borrowers said they're hopeful the midterms will prompt policy to protect those in default.States with closely contested Senate races, like Texas and Ohio, have high rates of nonpayment, per an Urban Institute analysis.Sarah Bundy has been in and out of default on her student loans for nearly three decades.She borrowed for college in the mid-1990s, but dropped out as her loan balance became unaffordable. At the time, it was $39,000. Now, it's $60,000.The 55-year-old is hoping a "blue wave" will pave the way for Democratic legislation to shield borrowers at risk of default."At my age, I can never get ahead of this," Bundy said. "So I'm just trying to scooch under the wire as long as I can."Roughly one of every six adult Americans has federal student loan debt, according to Federal Student Aid. And some 16% of federal and private borrowers were 60 or more days late on their payments in 2026, according to an…