Student Loan Borrowers Face Repayment Challenges and Billing Errors

Early data from the Census Bureau's household pulse survey shows that the restart of student loan payments is already causing financial strain for borrowers, with 41.2% of adults reporting difficulties paying household expenses. The highest share on record since the survey began in August 2020, the data suggests that restarting student loan payments is the source of increased financial stress for consumers, particularly among households with a college degree and income between $50,000 and $150,000. The impact of these repayments on both households and the economy is a concern, as many borrowers have become accustomed to using the money for other necessities and have little savings to absorb rising costs or financial shocks.