Joseph Cioffi was quoted in a Bloomberg article, "Canceled Student Loans May Be Boon for Bonds.”
With a full plate of health, safety and security priorities on the table and the challenge served up by a deeply divided Congress, the prospects are dim for substantial student loan forgiveness in the early stage of the Biden/Harris Administration. Still, we anticipate the White House will try to find meaningful ways to reform a space that has become a progressive lightning rod. Any significant...
There’s apparently nothing like a pandemic to get the federal government moving on issues surrounding student loans, the second largest segment of consumer debt behind mortgage loans. At this time, only borrowers under federal loans are seeing relief. Private lenders have not reported any sweeping plans, leaving individuals with private student loans to reach out to their servicers for help.
Distance – the space between – defines our present in so many respects, but that’s not what will lead to success in any market. We have distance from each other, distance from our normal life of just days ago and distance from a future without COVID-19. But that distance has underscored the interconnection of people and markets and their actions like nothing has before. Sure, we knew we were all...
No, getting real does not mean a politician’s grand plans, no matter how close they may get to office. Nor wiping out all student debt and paying for it with a tax on “Wall Street” – which did not create the problem and would, ultimately, impact American’s stock-filled retirement plans – is not a realistic solution either. Beyond fairness and reason, real plans require legal grounding and the...
Time keeps on slipping into the future (well, at least since 1976), bringing with it momentum that has the power to shift markets. If we do our homework, we can see where the momentum will take us in 2020.
Originations and Issuances, by the Numbers Student loan debt stood at $1.6 trillion in Q2 2019, up from $1.53 trillion a year earlier, and now accounts for 10.7% of the $13.86 trillion in household debt, based on Federal Reserve Board of Governors and Federal Reserve Bank of New York data.
