A number of borrowers will face a unique set of challenges in the face of a return to student loan debt repayments that resume Sunday, a former Fed economist said.
It's going to hurt a cohort that we don't talk about very much, he said. It's a millennial group who left the city when the pandemic hit the city, said Danielle DiMartino Booth, a former researcher at the Dallas Fed.
Booth said millennials who make between $100,000 and $225,000 who took advantage of record-breaking at the pandemic's beginning, buy homes, and settle in the suburbs will now have an extra financial burden. However, the group will be the group that cannot access any student loan relief.
As well as their younger counterparts, Millennials are already facing a mountain of money burdens, including, and ever-increasing housing and. The financial implications of student loans will become an additional financial burden for those balancing their housing expenses.
In contrast, it will also prevent younger borrowers from being able to in the least in US history.