The resumption of student loan repayments and credit reporting has led to a significant decline in credit scores for over 2 million borrowers, impacting their capacity to purchase vehicles, secure housing, and more. This financial burden disproportionately affects older borrowers and communities of color, particularly Black and Latino families who are already contending with existing wealth disparities. Charlene Crowell, Senior Fellow with the Center for Responsible Lending, provides insight into the implications of this development.
Interview by Chris B. Bennett.
