Reply to student loans...what will happen when payments start

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not a political discussion. We are discussing the ramifications of a restart on the economy if a whole bunch of people decide to not pay and go into default. Does anyone know the magnitude of student loans vs that of the housing crisis from 2008? Is it even close or not? We keep hearing the consumer is strong blah blah and I just don’t see it, who is sitting around on all this stimulus money? Is the consumer strong because they are paying their student loans? Will all this change when the pause ends? Will the economy go to shit since the consumer is not “strong” anymore? [/quote]

I would have also thought that there is no way the consumer is strong, but I can go to a casual restaurant last night, and it is absolutely packed on a Tuesday. I can order a new car and hope that it gets here in three months and I get the opportunity to pay full price.

So please, please bring back student loan repayments, because the Fed’s hikes don’t seem to be doing anything.[/quote]

These are not the same people with the loans. They are the folks who got PPP loans forgiven, and who have under 3% mortgages, which loan holders don’t have, because they have been paying their loans.[/quote]

I have a federally backed student loan I've been paying since 2001/2ish (well, except for the past 3 years) and a mortgage under 3%. It is possible to have both.[/quote]

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