Student loan repayments resume this month and many borrowers will need to figure out how to adjust their budgets and spending habits. Thomas Simons, Jefferies U.S. Economist joins Yahoo Finance live to shed light on the next steps to take. Simons advises looking into loan services and being aware of what servicer has assumed the loan. Simons also advises looking for government assistance to find a way to “ease your way” back into loan repayment.
In terms of consumer trends—Simons predicts certain “discounters” such as Target and Walmart will “pick up the slack” in terms of where borrowers will shop in order to save money.