•   borrowers who must resume loan payments after the Supreme Court struck down President Biden’s student debt forgiveness program will be shelling out $300 per month each on average, according to number-crunching from consumer data firm Earnest Analytics.
  • Some 25.5 million consumers, or 60% of those with student debt, took advantage of forbearance provisions in the pandemic-related CARES Act, per the report, citing College Board numbers.
  • Like other analysts, Earnest researchers warn that, “With interest resuming in September and payments in October, a $300/month bill on many consumer budgets may add pressure to an already cautious spending environment.”
  •   According to the Earnest report, those with higher market share among borrowers who had been able to suspend payments include Peloton, Ikea, Ashley, HomeGoods, Wayfair, Lowe’s, and most apparel and department stores. Specifically, Old Navy had the highest share at 14%, while Nordstrom’s full price business had the lowest share at 8%, Earnest found.

Source: retaildive.com