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The U.S. Department of Education's resumption of student loan collections is projected to significantly impact consumer spending, potentially reducing disposable personal income by $3.1 billion to $8.5 billion monthly, according to JPMorgan estimates. This could decrease yearly disposable income by 0.7% to 1.8%. The move, restarting after a five-year pause, is expected to disproportionately affect low-income Americans already burdened by inflation and tariffs, potentially further dampening consumer sentiment and spending.

Prepared by Christopher Adams and reviewed by editorial team.