[10 News] Let us know how that works for you? Most Americans have no student loans or have paid them off, having real jobs. A reckoning is near
| Yes, and the consequences for the stupid will be deservedly ugly. |
Student loan repayments are resuming on October 1st, after a protracted legal battle led by the Biden administration. Interest on loans has already started accruing again.
The administration is still providing debt forgiveness to around 800,000 borrowers and installing a new income-driven repayment plan.
But that still leaves the rest of the 43.5 million Americans who will be paying an average of $337 a month to service their loans.
Some economists have warned that this could slow down consumer spending, which has been surprisingly steady amid inflation. It also coincides with other hardships, like major strikes in Hollywood and for Detroit's Big Three automakers. |