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  • Frank Tian

Impact of Payment Pause on Credit Scores of US Student Loan Holders

3 highlights from NY Fed’s latest consumer credit analysis by income:

👉 The lower-income group holds comparable auto loans and student loans vs. higher-income groups, from both:

  • Percent of the population holding debt (graph 1)

  • median balance (graph 2).

👉 The growing balance of secured debt (auto loan and mortgage) and the shrinking of credit card debt are across all income groups.

👉 The credit scores for student loan holders were boosted more sharply (graph 3) due to the pause in the payment.



As of Q3 ‘21.

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