Media Advisory

NYC Department of Consumer Affairs and New York Fed Discuss Release of a Neighborhood-Level Report on Student Loan Borrowing in NYC: December 15

December 12, 2017

NEW YORK—New York City (NYC) Department of Consumer Affairs (DCA) Commissioner Lorelei Salas and Federal Reserve Bank of New York Senior Vice President in Research and Statistics Wilbert van der Klaauw and Administrator of the Center for Microeconomic Data Joelle Scally will host an on-the-record press call on the morning of Friday, December 15 to discuss the Student Loan Borrowing Across NYC Neighborhoods report (the Report). The Report will be released at 12:00 PM EST on Friday, December 15.

Commissioner Salas will lead the call and cover the Report’s key takeaways and outside resources for New Yorkers concerned about their student debt. The New York Fed representatives will provide technical expertise regarding the findings and how to interpret the data.

Student Loan Borrowing Across NYC Neighborhoods is a neighborhood-level examination of student loan outcomes in NYC.  The Report sheds a light on the issues of high distress and slow repayment rates that are particularly acute in certain NYC neighborhoods. The report examines student loan participation rates, average balances, borrower characteristics and repayment outcomes in neighborhoods across NYC’s five boroughs. It was developed to provide policymakers and community leaders with the information needed for effective, targeted interventions to ease the burden for New Yorkers struggling with student debt.

Press interested in participating in the call should RSVP to Betsy Bourassa at Betsy.Bourassa@ny.frb.org or Christine Gianakis at press@dca.nyc.gov.