Student Loan Payments Surge With Deadline Ahead: What's Next For Borrowers?
Portfolio Pulse from Piero Cingari
The suspension of federal student loan payments is set to conclude in October 2022. However, remittances to the Department of Education have surged to levels higher than before the payment pause, according to Goldman Sachs’ analyst Alec Phillips. This surge has prompted questions about the burden that borrowers may face once the payments restart. In response to these developments, SoFi Technologies Inc (NASDAQ:SOFI), Navient Corp. (NASDAQ:NAVI), and SLM Corp. (NASDAQ:SLM) experienced a dip in their share prices.
September 05, 2023 | 9:04 pm
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NEGATIVE IMPACT
Navient Corp. fell 2% on Tuesday.
The surge in student loan payments has led to uncertainty about the financial burden on borrowers. This uncertainty has negatively impacted the share price of Navient Corp., a company in the student loan refinancing market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SLM Corp. fell 0.3% on Tuesday.
The surge in student loan payments has led to uncertainty about the financial burden on borrowers. This uncertainty has negatively impacted the share price of SLM Corp., a company in the student loan refinancing market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SoFi Technologies experienced a marginal 0.5% dip to $8.74 per share on Tuesday.
The surge in student loan payments has led to uncertainty about the financial burden on borrowers. This uncertainty has negatively impacted the share price of SoFi Technologies, a company offering student loan refinancing products.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80