Millions of People Aren’t Paying Their Student Loans. That’s Everyone’s Problem

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  Here's your Money Briefing for Friday, May 30th.

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  I'm Callum Borschers for The Wall Street Journal.

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  The student loan bill is due, or past due,

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  like way past due for millions of Americans who are now officially delinquent.

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  Bummer for them, but does it matter for everyone else?

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  Every penny that you have to pay to pay down your debt is a penny that you're not spending on something else.

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  So, you know, that will weigh on the economy.

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  We'll look at the ripple effect

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  if a whole lot of people don't pay back their college debts.

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  Wall Street Journal economics reporter Justin Lehart joins us after the break.

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  Millions of Americans who borrowed money from the federal government to go to college are facing a harsh reality.

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  Uncle Sam wants his money back, and he's willing to use tough tactics to get it.

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  Wall Street Journal economics reporter Justin Lehart has been digging into what this means for debtors and the rest of us.

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  Justin, student loan payments restarted in late 2023 after a break during the pandemic.

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  How many people aren't paying up, and what kind of financial trouble are they in?

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  There was an on-ramp.

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  After 2023, it took about a year where you didn't have to pay.

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  But then starting in the fall of 2024, people were required to pay up.

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  And what we saw is that in the first quarter,

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  there was a big jump in the number of people who were delinquent,

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