The unique inflationary pressures on household finances have not abated, especially for Americans with credit scores below 700. These consumers are less likely to have access to short-term lending options to help them weather temporary financial storms.
Student Debt & Credit Scores: Data from the Center for the New Middle Class finds that student debt has lasting impact on financial stability.
Data from the Center for the New Middle Class finds that
student debt has a lasting impact on financial stability.
For many Americans, the pandemic followed by inflation have been a one-two punch. Just as the country re-opened and it looked as though people could
It is unclear how much more the new middle class can be squeezed without a significant impact across the economy.
This study, co-authored by Elevate and SpringFour, found that the pandemic’s impact on American households was uneven, and that those who struggled require support beyond what traditional financial institutions provide.