Retailers may take a hit as Americans resume paying their student loans
June 16, 2023
The federal government’s decision to end its pause on student loan payments will mean that dollars now flowing to retailers and other businesses will be used for paying down their debts. Around 26.6 million people were not paying their loans back in the first quarter of 2023, according to the National Student Loan Data System. The estimated median household impact is expected to be about $180 a month, according to the Bank of America Institute.
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