Fed in Print
All Title Author Abstract
Bank Series Content Type Author JEL Classification

Discussion Paper

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


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?

https://doi.org/10.17016/2380-7172.3879

Access Documents

File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/debt-payments-and-spending-evidence-from-the-2023-student-loan-payment-20250905.html

Authors

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2025-09-05

Number: 2025-09-05