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Resumption of Federal Student Loan Payments: Letter to Credit Unions October 2023 23-CU-08
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Resumption of Federal Student Loan Payments: NCUA Guidelines and Impact on Borrowers
This podcast episode, hosted by Samantha Shares, discusses the implications of the resumption of federal student loan payments. The show is sponsored by Credit Union Exam Solutions Incorporated. The episode covers key points from the NCUA's letter to credit unions on this topic, including advice on how credit unions can manage the potential difficulties borrowers might face upon the recommencement of loan payments, as well as strategies for risk assessment, borrower outreach, and portfolio monitoring. It also focuses on financially vulnerable borrowers who are set to be impacted by the restart of loan payments while offering advice to credit unions on guiding their borrowers during these challenging times. Finally, the podcast provides an overview of how the resumption of loan payments can potentially impact credit risk and allowance for credit losses.
00:00 Introduction and Sponsorship
00:33 Overview of the Podcast Episode
01:31 Background on Federal Student Loan Relief
02:43 Impact on Student Loan Borrowers
03:41 Risk Management Principles
05:26 Strategies for Credit Unions
09:50 Conclusion and Contact Information
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