Unnamed Speaker

And this month, some defaulted borrowers could see even more serious consequences. Their loans could go into collections. Kristen isn't in default. Her loans are currently in forbearance. But she is worried. If you did have to start repaying your loans at this point, what would that mean for you?

And this month, some defaulted borrowers could see even more serious consequences. Their loans could go into collections. Kristen isn't in default. Her loans are currently in forbearance. But she is worried. If you did have to start repaying your loans at this point, what would that mean for you?

To make room in her budget for loan repayments, Kristen would need to pull back her spending. And with millions of borrowers potentially doing the same thing, economists are worried that all that belt tightening might start to impact the economy.

To make room in her budget for loan repayments, Kristen would need to pull back her spending. And with millions of borrowers potentially doing the same thing, economists are worried that all that belt tightening might start to impact the economy.

To make room in her budget for loan repayments, Kristen would need to pull back her spending. And with millions of borrowers potentially doing the same thing, economists are worried that all that belt tightening might start to impact the economy.

Economists at Morgan Stanley recently estimated that between $1 and $3 billion in borrowers' monthly spending could soon be redirected to student loan payments. That could be enough to impact the GDP.

Economists at Morgan Stanley recently estimated that between $1 and $3 billion in borrowers' monthly spending could soon be redirected to student loan payments. That could be enough to impact the GDP.

Economists at Morgan Stanley recently estimated that between $1 and $3 billion in borrowers' monthly spending could soon be redirected to student loan payments. That could be enough to impact the GDP.

a lot of the people who were experiencing the payment pause of the pandemic, they were going out in the economy and spending money. They were maybe buying houses or getting cars or going on a vacation, feeling a sense of freedom with their money that they hadn't felt in years.

a lot of the people who were experiencing the payment pause of the pandemic, they were going out in the economy and spending money. They were maybe buying houses or getting cars or going on a vacation, feeling a sense of freedom with their money that they hadn't felt in years.

a lot of the people who were experiencing the payment pause of the pandemic, they were going out in the economy and spending money. They were maybe buying houses or getting cars or going on a vacation, feeling a sense of freedom with their money that they hadn't felt in years.

And I've already seen it with borrowers that I've talked to who have experienced the consequence of having their credit score drop. That is a really big deal for someone who maybe just got a home or was about to qualify for a home. People are graduating. Yeah.

And I've already seen it with borrowers that I've talked to who have experienced the consequence of having their credit score drop. That is a really big deal for someone who maybe just got a home or was about to qualify for a home. People are graduating. Yeah.

And I've already seen it with borrowers that I've talked to who have experienced the consequence of having their credit score drop. That is a really big deal for someone who maybe just got a home or was about to qualify for a home. People are graduating. Yeah.

Like maybe right now as we're having this conversation.

Like maybe right now as we're having this conversation.

Like maybe right now as we're having this conversation.

It's graduation season.

It's graduation season.

It's graduation season.