Borrowers must start making student loan payments in October when a three-year pause due to the COVID-19 pandemic ends.
's vision for the economy—and is likely to disproportionately impact low-income borrowers, according to an economic analyst.
But it will be low and moderate-income borrowers who will face the most significant challenge when student loan repayments restart, according to Emerson Sprick, senior economic analyst at the Bipartisan Policy Center, a nonpartisan organization in Washington. However, recent analysis shows that many households are quickly burning through the cash they saved during the pandemic, indicating that repayments will likely come from borrowers reducing their spending, not personal savings.
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