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Weekly Market Recap: Will This Red-Hot Rally Cool Off Or Sizzle Even Higher?

Wealthion - Be Financially Resilient

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The Impact of Student Loan Repayment on the Economy

I want to pick up a thread that you mentioned earlier, which was the impact of student loan repayment. It's estimated that when we go into repayment, that will be about a $70 billion hit annually to consumer spending. And as I let you react to that, let me just give out some top level numbers here. Total outstanding student loan debt right now is 1.75 trillion. 92% of these loans are loans to the government. The preponderance of loans were made by private lenders in previous generations while going to school. Now it's been almost all taken over by government lenders. We have this massive crisis of way too many borrowers with way too much debt.

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