The average shopper with student loans is a 37-year old earning $65,000 whose philosophy is 'Live for Today'
UBS says the resumption of payments could cause an underappreciated slowdown in consumer spending, with analysts led by Jay Sole pointing to a possible sharp reduction in spending on clothing in particular.
The average income for student loan consumers was $65,400, slightly less than the $66,200 for the average US consumer. They're also impulsive shoppers. When presented with the phrase 'My philosophy of spending is"Live for today" because tomorrow is so uncertain,' 62% of student loan shoppers agree or strongly agree, versus 47% for US adults.
UBS argues the end of the student loan payment moratorium will hit a bunch of brands and retailers like American Eagle Outfitters, Nike, and Gap.
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