The repayment poses risks to the economy, with consumer spending likely to be reduced.
On Friday, the Supreme Court ruled that Biden's plan to cancel up to $20,000 in student debt will be struck down.
But they're a weight, it's about 20 million student-loan borrowers that haven't been paying, they'll have to begin paying more or less in September," Zandi said.
White House Principal Deputy Press Secretary Olivia Dalton was asked this week about how the student-loan payment resumption could impact consumer spending.
And his concerns are broader than just a contraction in consumer spending.
Persons:
—, Joe Biden's, Mark Zandi, haven't, Zandi, that's, Ethan Harris, Morgan Stanley, Olivia Dalton, Dalton, Marshall Steinbaum
Organizations:
Education Department, Service, Moody's, CNBC, Bank, Bank of, UBS, White, Politico, Family Institute, University of Utah
Locations:
Wall