Core Insights - Student loan borrowers are reducing discretionary spending to manage loan repayments, with many successfully handling their loans, but an increasing number are facing difficulties [2][5]. Spending Impact - The typical student loan borrower has reduced their weekly spending by approximately $12.20 for every $10,000 of student debt, leading to an annual spending cut of about $1,590 for the median borrower with a $25,000 balance [3][4][8]. Borrower Status - Out of 18.8 million borrowers in repayment, nearly 13 million are in good standing, and about 25% expect to pay off their debt by 2026 [6]. - However, over 4 million borrowers are nearing default, which is more than eight times the number of seriously delinquent borrowers prior to the pandemic [7]. Economic Context - Borrowers are facing challenges due to rising prices from tariffs and a slowing labor market, compounded by confusion over changing student loan policies [8].