Analysis of information sources in references of the Wikipedia article "Subprime lending" in English language version.
The term "subprime" refers to the credit quality of the mortgage borrower as determined by various consumer credit-rating bureaus such as FICO, Equifax, and Experian. The highest-quality borrowers are referred to as "prime", hence the term "prime rate" refers to the interest rate charged on loans to such low-default-risk individuals. Accordingly, "subprime" borrowers have lower credit scores and are more likely to default than prime borrowers. Historically, this group was defined as borrowers with FICO scores below 600, although this has varied over time and circumstances, making it harder to determine what "subprime" really means.
..many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in.
The term "subprime" refers to the credit quality of the mortgage borrower as determined by various consumer credit-rating bureaus such as FICO, Equifax, and Experian. The highest-quality borrowers are referred to as "prime", hence the term "prime rate" refers to the interest rate charged on loans to such low-default-risk individuals. Accordingly, "subprime" borrowers have lower credit scores and are more likely to default than prime borrowers. Historically, this group was defined as borrowers with FICO scores below 600, although this has varied over time and circumstances, making it harder to determine what "subprime" really means.
