Debt Payments and Spending: Evidence from the 2023 Student Loan Payment Restart

Aditya Aladangady, Edmund Crawley, William L. Gamber, Patrick Moran and Jose Nino
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William L. Gamber: https://www.federalreserve.gov/econres/william-l-gamber.htm

No 2025-09-05, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In October 2023, roughly 40 million Americans faced a new monthly bill as federal student loan payments resumed after a three-year pandemic-induced pause. The restart of loan payments effectively reduced disposable income for borrowers, raising a critical question: How do debt payments affect household spending?

Date: 2025-09-05
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-09-05

DOI: 10.17016/2380-7172.3879

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