Student-loan repayments will restart on October 1 following a three and a half year hiatus.
After more than three and a half years of moratoriums on student loans, repayments are set to resume on October 1.
The average student loan borrower has more than $37,000 in federal student-loan debt, according to Bankrate.
Manny Garcia, a senior population scientist at Zillow, told Insider that student-loan repayments will likely jeopardize buyers' ability to afford home purchases this year.
"Before the pandemic, borrowers were already choosing between meeting their own basic needs and making their student-loan payments.
Persons:
—, it's, Manny Garcia, Garcia, Pulsenomics, Zillow, Will Lemke, Stephanie Hall
Organizations:
Service, Center for American Progress, Wall Street Journal, Inside Mortgage Finance