Student loan repayments will cut into consumer spending
June 27, 2023
Thirty-seven percent of consumers with student loans said they will need to reduce spending elsewhere to be able to repay their debt beginning in October when the pause of payments ends, according to a survey of 2,000 people by Morgan Stanley. “Only 29 percent of consumers who have federal student loans are confident they will have enough money to start making payments without adjusting spending in other areas,” the report said.
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