Summary: <p></p> <p>Federal student loan payments have been paused for over three years. Since then, borrowers have got used to the extra room in their budgets for dining, vacations, Beyoncé tickets and more. One listener called in to ask: What happens to the economy when payments start again this fall? We’ll get into it and answer more of your questions on President Joe Biden’s new student debt forgiveness plan and why it’s so hard to have student loans wiped out through bankruptcy.</p> <p> </p> <p>Here’s everything we talked about today:</p> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.transunion.com/blog/student-loan-study-blog" target="_blank" rel="noreferrer noopener">“As Student Loan Borrowers Prepare to Resume Payments, Some Borrowers’ Abilities to Pay May Be Limited”</a> from TransUnion</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.marketplace.org/2023/07/05/retailers-are-already-planning-for-the-end-of-the-year-and-theyre-getting-nervous/" target="_blank" rel="noreferrer noopener">“Holiday shopping already has retailers on edge”</a> from Marketplace</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.wsj.com/articles/student-loan-repayments-deadline-economy-913acc34" target="_blank" rel="noreferrer noopener">“Student-Loan Repayments Are Coming Back. Retailers Are in for a Big Shock.”</a> from The Wall Street Journal</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.cnn.com/2023/06/30/investing/student-loan-pause-ending/index.html" target="_blank" rel="noreferrer noopener">“The pause on student loans is ending. That could be a storm cloud for the economy”</a> from CNN Business</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.marketplace.org/2023/07/14/the-biden-administration-is-forgiving-39-billion-in-federal-student-loans-find-out-if-you-qualify/" target="_blank" rel="noreferrer noopener">“The Biden administration is forgiving $39 billion in federal student loans. Find out if you qualify”</a> from Marketplace</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.cnbc.com/2023/07/19/biden-is-forgiving-39-billion-in-student-debt-heres-who-qualifies.html" target="_blank" rel="noreferrer noopener">“Biden is forgiving $39 billion in student debt — here’s who qualifies”</a> from CNBC</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.vox.com/policy/2023/7/14/23795256/student-loan-forgiveness-debt-biden-plan" target="_blank" rel="noreferrer noopener">“Student loan forgiveness: What to know about Biden’s $39 billion plan”</a> from Vox</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.capolicylab.org/who-benefits-from-the-student-loan-payment-pause-and-what-will-happen-when-it-ends/" target="_blank" rel="noreferrer noopener">“Who benefits from the student loan payment pause and what will happen when it ends?”</a> from California Policy Lab</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.forbes.com/sites/adamminsky/2023/02/14/student-loan-forgiveness-biden-administration-updates-form-for-new-easier-bankruptcy-process/?sh=15af35c850e1" target="_blank" rel="noreferrer noopener">“Biden Administration Updates Form For New, Easier Bankruptcy Process”</a> from Forbes</li> </ul> </li> </ul> <p> </p> <ul> <li style="list-style-type: none;"> <ul> <li> <a href="https://www.nytimes.com/2022/11/17/your-money/bankruptcy-student-loans.html" target="_blank" rel="noreferrer noopener">“Biden Administration Offers New Path to Discharging Student Debt in Bankruptcy”</a> from The New York Times</li> </ul> </li> </ul> <p></p> <p> </p> <p>Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.</p> <p></p>
