Student Loan Repayment Resumed This Month, and So Far the Economy Is Doing Better Than Expected
Student loan borrowers were able to enjoy an extended reprieve when their monthly payments were put on pause during the pandemic. In fact, borrowers were able to go more than three years without making payments on federal loans before payments resumed this month.
At first, there was some concern that the revival of student loan payments would have a negative impact on the economy. After all, with an average monthly payment of $337, borrowers were apt to start cutting their spending in different areas to cover their loan obligations, right?
Well, apparently not. A new analysis from finds that resuming student loan payments isn't hurting the economy in a big way. And that's a relief for those who may have been worried about a recession.
Source Fool.com
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