"Surprising Trend: Student Loan Borrowers Paying Off Loans Faster"

Many student loan borrowers have started making payments ahead of the October deadline to end the pandemic-era payment pause, surprising economists who expected a delay. The resumption of payments, which averaged $200-$300 per month before the pandemic, may lead to a decrease in consumer spending and impact the overall economy. Some borrowers have already cut back on discretionary spending, such as eating out, to accommodate the loan repayments.