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Gen Z Credit Crisis Deepens | Durham News
Millions of student loan borrowers are facing plummeting credit scores, especially Gen Z, as the end of the SAVE plan triggers a debt crisis. FICO scores for young adults dropped three points last year—the steepest generational decline on record—making car and home loans harder to secure. With one in four borrowers now behind on payments, the fallout is severe: some saw scores fall 57 points, trapping them in financial limbo. The Federal Reserve reports 2.6 million defaults in one quarter alone, disproportionately affecting southern states. As older generations rebuild credit, younger…
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