Oyen Adedoyen

The average student loan borrower entering default is nearly 40 years old.

That's two and a half years older than before the pandemic.

These are people who are 270 days or more past due on a payment.

And they might also be parents who borrowed on behalf of their kids.

This is significant because at the end of 2023, a pandemic-era government pause on student loan payments ended.

The government then started pushing millions of borrowers back into repayment, but many of them either weren't aware the pause had ended or just didn't have the money to get back into repayment.

And the Fed is estimating that more than 3.5 million people defaulted on their student loans between October and March.

Access to affordable credit helps me pay my employees, but I don't really need it.

Banks and credit unions help small businesses make payroll.

This bill would cut the vital resources they need.

Tell Congress, stop the Durbin Marshall money grab for corporate megastores.

Paid for by the Electronic Payments Coalition.