Student loan borrowers are cutting back on discretionary spending to meet loan payments. Since repayments resumed in 2023, the median borrower has reduced yearly spending by $1,590. While most borrowers are managing, more are behind on payments than usual. A recent analysis shows that millions are at risk of defaulting, complicating the financial outlook for the U.S. economy. Additionally, factors like tariffs and changing loan policies are making repayment more challenging for some borrowers. Despite challenges, a quarter of borrowers surveyed anticipate paying off their debt by next year.

Read more at Yahoo Finance: Americans With Student Debt Are Cutting Household Spending to Make Loan Payments