The upcoming restart in student loan payments is set to weaken the US consumer, according to Morgan Stanley.
The bank conducted a survey of about 2,000 consumers and found some startling insights.
A whopping 34% of survey respondents said they will not be able to make the payments at all.
Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy
The upcoming restart of student loan payments could begin to weigh down a US consumer that has been remarkably resilient over the past year and a half.
According to a recent survey of about 2,000 consumers by Morgan Stanley, concerns over upcoming debt and mortgage payments has soared to the highest level since the survey began.
Part of that surge is due to this October’s restart of student loan payments, which have been paused since the start of the pandemic in March 2020. The average payment is between $300 and $400, based on various estimates.
Student Loan Payments to Pressure Consumers As 34% Say They Can’t Pay
