/biz/ - Business & Finance

>When student loan payments resume, 56% of borrowers say they’ll have to choose between their debt and buying groceries
>Federal student loan payments are coming back, and they’re going to wreak havoc on borrowers’ budgets.
>Interest accruals resume on Sept. 1 and payments will be due in October for the first time in over three years.
>But over half of borrowers (56%) say they will be forced to choose between making their loan payment or covering necessities, like rent and groceries, when the pandemic forbearance ends
>Resuming student loan payments is likely going to hurt millions of households that had found some financial security over the past three years.
>68% of borrowers with household incomes under $50,000 say they’ll have to choose between keeping up with their loan payments and buying necessities
>45% of borrowers with household incomes of $100,000 or more say they’ll be forced to make those hard choices.
>45% of borrowers expect their loans to go delinquent when the forbearance ends
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