Since March 2020, nearly 37.4 million people, or 90% of all student loan borrowers, stopped making payments under the loan forbearance provisions of the CARES Act. Additionally, all student loan interest has been suspended for the past eight months. However, since the current $900 billion stimulus bill does not extend the forbearance of student loans, the 42 million US borrowers,…
Tag: Economic Recovery
The Unemployment Conundrum Continues
Increasing emergency unemployment claims seems to indicate more people have lost their jobs, yet decreasing continuing jobless claims could mean those unemployed are now employed or failed to get a job, thus are or at risk of being permanently unemployed (or those no longer looking for work.) Translation: we either have at best a bifurcated job market or at worst,…
The Shrinking American Middle Class
The American middle class is shrinking. Why?
Employment Conundrum
We’re officially in a recession, meaning GDP, or the total value of goods produced and services provided in the US during a single year has declined for two consecutive quarters. The world economy is expected to contract by 5.2% this year—the worst recession in 80 years—but the sheer number of countries suffering economic losses means the scale of the downturn…
COVID-19 impacts Fall 2020 academics
As K-12 school administrators debate different options about how to re-open school campus doors to students and teachers in the fall, they are deferring to doctors and public health officials for guidance. So, families must decide, based on the most accurate information regarding the coronavirus outbreak they can acquire, what degree of risk they are willing to take beyond what…
Middle Class Wealth Erosion Set to Continue
The above chart depicts that the wealthiest and upper middle class have not only regained their wealth previous to the 2008 recession, but gained greater wealth, at the expense of the middle class and poorest classes. And, now, middle class and poorer families are facing an even greater economic downturn that has yet to be even defined in scope, though…