@nytimes reporter covering China and Asia, but mostly China. Got a tip? alexandra.stevenson@nytimes.com GPG
: 2E59 A14F 698F EBBA https://keybase.io/jotted
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Scandalous. People w/ private student loans will end up owing more than they did before the economic collapse, and some will see monthly payments go up. Private lenders continue to file collection lawsuits since Trump declared a national emergencyhttps://bit.ly/2xNSC5y
Context: The CARES Act suspends both monthly payments and interest accrual on federal loans but not private ones. “The private student loan market is really kind of the Wild West of consumer finance. There’s no real requirement that companies work with borrowers who struggle.”
Same with mortgages: Chase will give you a 3-month break in payments but the full 3 months’ of payments is due at the end of the 90-day waiver.
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