Student Loan Repayments Not Slowing Economy as Much as Expected, JPMorgan Finds

JPMorgan economists find student loan repayments are not hurting the economy as much as feared.

Payments resumed in October after moratorium ended, but the pace has cooled after an initial surge.

Current $75 billion annual payment rate is equal to 0.2-0.3% of GDP.

Households seem able to afford payments due to strong balance sheets.

NY Fed survey suggests payments may only reduce consumer spending by 0.1%, or 0.3 GDP points.