Delinquent Student Loan Borrowers and the Impending Credit Score Risks Post On-Ramp
Tuesday, 10 September 2024, 11:30
The End of the On-Ramp Period
The 'on-ramp' allowed borrowers to avoid negative credit reporting, creating a temporary relief for those struggling to keep up with their payments. However, with the deadline of September 30 approaching, many will encounter the reality of their financial obligations once again.
What Happens Next?
- Borrowers must prepare for heightened scrutiny from credit agencies.
- Missed payments may adversely affect credit scores immediately.
- Impact on future borrowing opportunities could be significant.
As the 'on-ramp' fades away, borrowers need to reassess their financial strategies to mitigate credit damage.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.