Stacy Cowley - Profile and Journalist Details
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Stacy Cowley
Verified
Consumer Finance Reporter, The New York Times
New York
Beats
employee benefits pensions
Content
By Stacy Cowley Verified| The Seattle Times Verified After a five-year pause on penalizing borrowers for not making student loan payments, the federal government dropped the hammer. It instructed its loan servicers to start reporting late payers to credit bureaus at the start of the year. The result: Millions of borrowers saw their credit scores plunge in recent months, and loan servicers are warning that a record number of borrowers are at risk of defaulting by the end of the year.
By Stacy Cowley Verified| The Boston Globe Verified Loan servicers estimate that this year about 4 million people have been reported to credit bureaus for late payments, and researchers at the Federal Reserve Bank of New York project that number will climb past 9 million by the end of June. Those rising numbers have implications for the broader economy, which has already shown signs of slowing.
By Stacy Cowley Verified| The Seattle Times Verified After a five-year pause on penalizing borrowers for not making student loan payments, the federal government dropped the hammer. It instructed its loan servicers to start reporting late payers to credit bureaus at the start of the year. The result: Millions of borrowers saw their credit scores plunge in recent months, and loan servicers are warning that a record number of borrowers are at risk of defaulting by the end of the year.
Company Info
The New York Times
New York, New York, United States
+1 800-698-4637