Summary
Americans servicing student debt are cutting back on household spending to make loan payments. Since repayments resumed in 2023, the median borrower has reduced their annual repayments by about $1,590. While most borrowers are managing the squeeze, more are falling behind than usual. Among the 18.8 million in repayment, nearly 13 million remain in good standing, but over 4 million are nearing default — a rate more than eight times pre-pandemic levels.
Investopedia
