Student loan payments resume with less economic impact than feared

Despite warnings, resumption of federal student loan payments has not negatively impacted economy as predicted so far, per JPMorgan report.

About $75B annual student loan payment totals expected, up from $10B during pause but still just 0.2-0.3% of GDP.

Household balance sheets in fairly good shape, allowing many borrowers to resume payments relatively easily.

Payments expected to only mildly ding consumer spending and slow GDP growth compared to other economic headwinds.

Lowest-earning households with $7B annual student loan bills will still struggle most with resuming payments.