Businesses eye opportunities in student loan repayments
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 9 October 2023
⏱️ 8 minutes
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Summary
This month, payments on federal student loans resume. By one estimate, investors have poured $1.2 billion into student loan management startups in the past year. We take a look at this growing industry. But first, we hear how oil markets, bonds and more are responding to Israel’s declaration of war. And later: Ireland has a huge budget surplus. Now, the question is: How should it be spent?
Transcript
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| 0:00.0 | The country looking at what to do with all the extra money it took in this year. |
| 0:06.4 | I'm David Brancacho in New York, first off attacks in Israel of this scale and Israel's |
| 0:11.1 | declaration of war is affecting markets from oil to bonds and beyond. |
| 0:16.0 | I spoke to economist Julia Coronado just now. |
| 0:18.9 | Yes, we are seeing what we think of as a classic flight to quality or flight to safety. |
| 0:25.7 | Doc markets are down, oil is up, the dollar is up, bond yields which have been going up |
| 0:32.8 | are actually heading down. So this is a classic flight to safety amidst a lot of uncertainty |
| 0:39.7 | about what this means for the global economy and geopolitical landscape. |
| 0:44.7 | Yes, people buy bonds, yields come down, although the bond market is closed today for Columbus |
| 0:52.0 | Indigenous people's day. So we'll actually see that play out in trading tomorrow, I think. |
| 0:58.1 | The move in oil was not giant, it was significant but not giant. |
| 1:03.3 | Yes, we had it seen oil come way, way off the highs in the last week which is welcome news |
| 1:09.6 | for you as consumers and we're seeing about maybe a third of that given back with the tensions |
| 1:15.8 | in Israel. Julia Coronado is the president of the National Association for Business |
| 1:20.8 | Economics. This month people owe money on their federal student loans have to restart paying it |
| 1:26.8 | back. That means borrowers who haven't had to deal with student debt for more than three years are |
| 1:31.5 | trying to figure out next steps. Number of companies sure want to help them figure that out, |
| 1:35.8 | marketplaces, Stephanie Hughes has that. Now that student loans are due again, it's creating a lot |
| 1:41.2 | of big feelings. The word overwhelmed and anxious pop up a lot in our email. |
| 1:47.3 | Betsy Mayotte is president of the Institute of Student Loan Advisors, a non-profit that helps borrowers |
| 1:52.7 | manage their debt for free. She notes many of them are trying to figure out exactly how much they |
| 1:57.6 | owe. If there's any government forgiveness plans they qualify for. It's all fall down to them not |
... |
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