STUDENT LOAN DEBT: Since 2012, student loans have had the highest delinquency rate of any form of consumer debt. And while recent data from the New York Fed suggests that student loan delinquency rates have declined during the COVID-19 pandemic, this data actually reflects the effect of government forbearance programs. While a large share of student loans are currently in forbearance due to COVID-19 aid programs, students – many of whom might struggle to find work in a depressed economy – will be put in a precarious situation when aid programs end. How the new administration tackles the student loan crisis will be critical for many degree holders struggling to make their payments.

Student loan debt in Pennsylvania totals $70.6 billion. The average student loan debt balance in Pennsylvania was $33,400 per borrower. Here is a summary of the data for Pennsylvania:

• Average student loan debt per borrower: $33,400

• Share of borrowers 90+ days delinquent: 13.5 percent

• Total number of borrowers: 2,114,800

• Total number of college graduates: 3,071,204

• Total student loan debt (billions): $70.6

WORKING FROM HOME: The average employee in the Keystone State rates their happiness to work from home at just 6.3 out of 10, below the national average of 6.6/ out of 10. It appears the real winners are South Dakotans, who sound like they never want to set foot in an office again: they rate their happiness at a weighty 9 out of 10. Those clearly champing at the bit to get back to the watercooler are in West Virginia, where the WFH happiness factor is only 4.5 out of 10. Perhaps points were deducted for frustratingly small workstations, or screaming neighborhood kids in the background, or feelings of cabin fever brought on by WFH.

Source-Cherry Digital Content

CELEBRATING NEW YEAR’S EVE: After spending numerous months in social isolation, are Pennsylvanians willing to risk it for the sake of sending 2020 into the past with three cheers and some beers with friends? DrugAbuse.com, a provider of drug and alcohol addiction treatment resources, conducted a survey of 3,260 respondents to gauge partygoers’ optimism ahead of what is usually one of the biggest parties of the year. However, the current mood across the Keystone State is reflected in the survey results, which revealed that just 1 in 5 (17 percent) have hopes that they will be out celebrating this NYE, despite the current pandemic circumstances.

Source-Cherry Digital Content