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Reposted by Daniel Mangrum

The New York Times @nytimes.com · 9d

"Buy Now, Pay Later" apps like Affirm, Klarna and Afterpay have built a delirious new culture of consumption — and trapped users in a vortex of debt.

Klarna, Affirm, Afterpay: How ‘Buy Now Pay Later’ Built a New Culture of Consumption

‘Buy Now, Pay Later’ has built a delirious new culture of consumption — and trapped users in a vortex of debt.

nyti.ms

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Reposted by Daniel Mangrum

George Pearkes @peark.es · 9d

Very cool new paper from @danielmangrum.com and others at the NY Fed investigating BNPL. Conclusion: BNPLs are negatively-selected to consumers with worth credit, meaning the space is generally expanding credit with its growth.

www.newyorkfed.org/medialibrary...

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Daniel Mangrum @danielmangrum.com · Sep 8

I did this once with a verbal description of my methodology (using a voice memo) in mostly plain language and I was amazed at how well it hashed things out.

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Daniel Mangrum @danielmangrum.com · Sep 2

Same. It’s a champ for travel. Flight attendants constantly question whether it will fit in the overhead but it even fits in an E175 overhead bin.

Daniel Mangrum @danielmangrum.com · Sep 2

We went with my 3 year old in April and only used the tube once (too many elevator transfers) but used the bus constantly. It was fantastic. What is your travel stroller of choice?

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Daniel Mangrum @danielmangrum.com · Aug 5

We did not refer to them by name but they are included in the 20 million borrowers not in repayment. It is unclear when they will be required to make payments, but mechanically they can’t be reported as delinquent until 90 days of missed payments. Earliest that could be is 2026.

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Daniel Mangrum @danielmangrum.com · Aug 5

Nope. We wrote on this in May (still applicable). They won’t hit until probably early 2026 since they’re still in forbearance.

libertystreeteconomics.newyorkfed.org/2025/05/stud...

Student Loan Delinquencies Are Back, and Credit Scores Take a Tumble - Liberty Street Economics

With the delinquency rate for student loans surging, the authors take a look at which borrowers are past due and how that affects their access to credit.

libertystreeteconomics.newyorkfed.org

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Daniel Mangrum @danielmangrum.com · Jul 1

At the bank, we get coffee cups made with the image from the show + the quote. Highly recommend you do the same!

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Daniel Mangrum @danielmangrum.com · Jun 25

What an insane amount of campaigning and mailers (from both) for such a lopsided outcome.

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Daniel Mangrum @danielmangrum.com · Jun 9

Hands down best example of AI enhanced productivity. Shoutout to peach puff

ChatGPT output listing 25 RGB color values

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Daniel Mangrum @danielmangrum.com · Jun 3

a man in a suit is making a funny face and saying oh no !

ALT: a man in a suit is making a funny face and saying oh no !

media.tenor.com

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Daniel Mangrum @danielmangrum.com · May 29

We are SO back

Second Ave. Sagas @2avesag.as · May 29

The Grand Army Plaza long national fence nightmare is over.

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Daniel Mangrum @danielmangrum.com · May 22

Shhhhhhh….

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Daniel Mangrum @danielmangrum.com · May 17

Get it!!!

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Daniel Mangrum @danielmangrum.com · May 15

6. Nearly 2 million IDR applications are pending as of the end of April. 80k were processed during April. Also 50k PSLF buyback requests pending.

storage.courtlistener.com/recap/gov.us...

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Daniel Mangrum @danielmangrum.com · May 15

5. (this one is a bit in the weeds) The delinquency rate on the FFEL portfolio (in repayment) held by ED is 50%! For reference, the overall ED portfolio DQ rate is 27%.

studentaid.gov/sites/defaul...

studentaid.gov

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Daniel Mangrum @danielmangrum.com · May 15

4. 45% of student loan borrowers with a payment due in Mississippi are past due

Map of student loan delinquency rates. Data available in the link

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Daniel Mangrum @danielmangrum.com · May 15

3. Under 30s are the only group with a student loan delinquency rate below pre-pandemic (conditional on having a payment due).

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Daniel Mangrum @danielmangrum.com · May 15

2. More than 2.2 million student loan borrowers who became newly delinquent in the first quarter saw their credit scores drop more than 100 points and more than one million saw drops of at least 150 points.

Student Loan Delinquencies Are Back, and Credit Scores Take a Tumble - Liberty Street Economics

With the delinquency rate for student loans surging, the authors take a look at which borrowers are past due and how that affects their access to credit.

libertystreeteconomics.newyorkfed.org

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Daniel Mangrum @danielmangrum.com · May 15

A few student loan stats.

First 4 from our new blog post, last 2 from ED.

1. Nearly 1 in 4 student loan borrowers with a payment due was past due at the end of the first quarter

libertystreeteconomics.newyorkfed.org/2025/05/stud...

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Daniel Mangrum @danielmangrum.com · May 4

I’m thinking the same.…

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Daniel Mangrum @danielmangrum.com · May 4

Mostly unrelated but Careless People was fantastic

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Daniel Mangrum @danielmangrum.com · May 2

It’s Bushwick, isn’t it?

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Daniel Mangrum @danielmangrum.com · Apr 22

🦄

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Daniel Mangrum @danielmangrum.com · Apr 21

Is there a defaulted loan servicer under contract yet? Or are these only for those borrowers who were already defaulted when there was last a servicer?

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