Morning Business Report: Student loan payments will resume soon
Student loan payments are set to resume in October and interest will begin to accrue again in September. Bank of America and Morgan Stanley report that borrowers will be under a strain. Morgan Stanley finds that 34% of surveyed borrowers don’t think they’ll be able to afford to make their student loan payments at all.
Across most of the United States, rent is coming down. But, there’s still one part of the country where rent is surging. According to realtor.com, the Midwest saw rent increase by 4.5% in May, a sign that more tenants are interested in the area.
Investors started off the week by dumping tech stocks.
The NASDAQ fell more than 1%.
Pickleball injuries may cost Americans nearly $400 million this year, according to UBS. UnitedHealth Group adds that it is seeing a higher number of hip replacements and knee injuries, many of which are related to pickleball.
What would you do to be completely debt-free? A new survey found that Americans would spend a night on a remote island, give up social media for a year, and even go a month with no internet access whatsoever. According to the poll, the average person feels they could only manage to stay debt-free for eight and a half weeks before accruing new debt. For many, the biggest debt hurdles include credit card debt, mortgages, automobile loans, and medical debt. The survey was conducted by OnePoll and Beyond Finance.
