How will restarting student loan payments affect the economy? Let's count the ways.

Contributing sentiments towards policy:

56% : Consumer spending will slowPandemic relief payments and forbearances on mortgages and student loans were just a few of the factors that led to households having more to spend during the pandemic.
54% : In the first quarter of 2020, nearly 11% of student loan balances were 90 or more days past due, according to the Household Debt and Credit Report from the New York Fed.
54% : If you're worried about your ability to make full student loan payments once the forbearance ends, the 12-month on-ramp period will save you from default, so consider easing back into full payments if it's helpful.
51% : Money that may have otherwise gone to student loan debt could be used for home repairs, clothing, or entertainment and travel after pandemic restrictions were lifted.
46% : Savings will remain low or fall furtherThe personal saving rate -- a percentage of disposable income that people are able to set aside after taxes and expenses -- rose significantly, hitting 34% early in the pandemic, but is now at the lowest since the Great Recession, at 4.6%, according to the Federal Reserve Bank of St. Louis.
42% : With student loan debt payments coming due, this rate will necessarily decline for those affected households.

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