Student Debt Threatens Consumer Spending
In the wake of a three-year pause on student loan repayments, a staggering 25 million Americans, who contribute significantly to the goods economy, are bracing for the reinstatement of an average monthly payment of $393 starting Q3. This looming financial obligation is expected to significantly curtail consumer spending, particularly in the physical goods sector, posing a substantial risk to the overall economy.
This is the biggest risk currently in the goods economy.— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) May 29, 2023
Student debt is the 2nd largest form of consumer debt in the US. 25M Americans were able to pause their $393 avg. payment/mo for the past 3 yrs. It resumes in Q3.
It is going to take consumer spending with it. This demo… https://t.co/C5ImwJq2m2