Student loan payments restarted on October 1. And the Census Household Pulse Survey for October shows a jump in the share of consumers saying they are having difficulties paying their household expenses, see chart below.
Looking at the Household Pulse Survey in detail shows that the difficulties with paying household expenses were concentrated among households with a college degree, making between $50,000 and $150,000, suggesting that restarting student loan payments is the source of increased financial stress for consumers.
Source: Census Bureau, Apollo Chief Economist (Note: Household Pulse Survey)
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