Millions of Gen Z grads have never had to pay their monthly student loan bill, considering that federal payments have been paused for more than three years. That will change soon—and it will be a “shock” for many household budgets.
That’s according to Jeffries, which warns of a coming “student loan cliff.” When payments resume for 45 million people, it’ll be the first time a sizable portion of those borrowers will be responsible for the hundreds of dollars each month. As Jeffries notes, that will be difficult when so many are already struggling with daily expenses, given inflation and the exorbitant cost of basics like housing and food.
Gen Z’s Impending ‘Student Loan Cliff’ Could Have Major Repercussions for the American Economy, Experts Say
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