49% of Student Loan Borrowers Worried About Budgets as Repayments Restart

Nearly half (49%) of those carrying student debt are extremely concerned about their ability to balance their personal budgets now that the COVID-era forbearance period is ending. Approximately 70% of those with debt say they, or people in their household, have not been making payments during this period, according to a survey conducted in September 2023 by 84.51.

The top five categories where these consumers plan to cut back are:

  • Dining out/takeout (58%);
  • Outside-of-home entertainment (49%);
  • Food delivery services (44%);
  • Travel (42%); and
  • Beauty services/clothing (37%).

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