Thread by @DebtCrisisOrg

#STUDENTDEBTxCOVID REPORT: Most people are not financially secure to resume student loan payments and economic challenges disproportionately harm people of color and older people.

studentdebtcrisis.org/student-debt-c…

.@DebtCrisisOrg, the nation’s largest student debt advocacy organization, and @BySavi, a social impact technology company working to help solve the crisis, completed a nationwide #STUDENTDEBTxCOVID survey last week with 58,733 #studentloan borrowers.

Even with the recent announcement of a short-term extension suspending #studentloan payments and interest until January 31, 2021, the #STUDENTDEBTxCOVID survey findings are bleak, underscoring that student loan borrowers are worse off now than in the spring.

65% of borrowers are facing increased anxiety, depression, or stress due to the burden of #studentloan debt during the #COVID19 pandemic.

#STUDENTDEBTxCOVID

52% of #studentloan borrowers rate their current financial wellness as poor or very poor since the #COVID19 pandemic began in March.

#STUDENTDEBTxCOVID

35% of #Healthcare workers with #studentloan debt have experienced reduced work hours caused by the #COVID19 pandemic.

#STUDENTDEBTxCOVID

Borrowers of color are disproportionately likely to report missing a rent or mortgage payment, experience food insecurity and homelessness or be unable to afford healthcare and medicine during the pandemic due to their #studentloan payments. #STUDENTDEBTxCOVID

“People are deeply concerned about the continuing impact of #COVID19 & their student debt burden is creating uncertainty about the future. The data shows that borrowers are not even close to ready to begin making payments again when relief ends." @nataliaabrams #STUDENTDEBTxCOVID

“With Congress still negotiating additional relief, and The White House failing to use its authorities to provide a permanent solution, we’re echoing the voices of our supporters to call for bold relief that is right and just by Americans during this crisis.” @nataliaabrams

"Many borrowers were concerned about payments resuming in January and this provides some needed relief... No one should have to choose between going to the doctor and putting food on the table vs. making a student loan payment.” @BySavi @aaronsmith44

#STUDENTDEBTxCOVID

The #STUDENTDEBTxCOVID survey received 58,733 responses from #studentloan borrowers across the country. This is a 51% increase in responses compared to our first survey in April.

studentdebtcrisis.org/student-debt-c…