The return of student-loan payments doesn’t seem to have hurt consumer spending. But some low-income borrowers are feeling the pinch.
“In the wake of student-loan payments resuming after a three-year pause, some of the most financially vulnerable student-loan borrowers are falling behind on their bills. That’s according to a new analysis of student-loan borrowers who use the federal government’s Supplemental Nutrition Assistance Program, which helps people with lower incomes pay for groceries. In October, when student-loan payments resumed, student-loan borrowers who use SNAP benefits reported higher rates of falling behind on bills including rent and utilities.”