Holiday 2023 Guide Part 2: The Return of Student Loan Payments
September 8th, 2023
2023 Timeline
1. The average borrower will need to adjust their budget.
2. Household savings and retirement may take a hit as federal student loan payments resume.
3. Specialty retailers and department stores will feel the financial impact of consumers cutting back and trading down.
4. Consumers will look out for discounts and early holiday promotions to offset seasonal costs.
The above information was sourced from The White House and the Department of Education. Want to dig deeper? Read about the Student Debt Relief Plan, the Supreme Court's decision to block the Student Debt Cancellation Plan, the SAVE Plan, and the end of the 0% interest period.
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