Gen Z Faces Highest Credit Delinquency Rates Amid Student Loan Impact
VantageScore economist Rikard Bandebo notes that younger borrowers are heavily affected by student debt, contributing to elevated delinquency compared to other generations.
Summary
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Terms & Concepts
Delinquency Rate: The percentage of loans where borrowers are late or have missed payments.
Student Loans: Funds borrowed to cover education costs, typically repaid over time with interest.