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Let’s talk about debt
Jul 3, 2023

Let’s talk about debt

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Some Americans used their stimulus checks to pay down all sorts of debt. Which might have been a forward-thinking plan, since federal student loan payments are set to restart this fall.

Segments From this episode

With student loan forgiveness program struck down, borrowers brace for impact

Jul 3, 2023
Some of those who owe the least could be among the most affected.
Protestors demonstrate in front of the White House after the Supreme Court struck down Biden's student debt forgiveness plan.
Anna Moneymaker/Getty Images

What do people do with stimulus checks? Yes, buy stuff — but also pay down debt

Jul 3, 2023
A recent study from the Federal Reserve Bank of New York shows that people often use government stimulus money to pay off debt — especially if they have a lot of it.
"Paying down your debt actually increases your future consumption, and that gives you a higher lifetime satisfaction," said the New York Fed's  Gizem Koşar.
Marvin Recinos/AFP via Getty Images

The team

Leanna Byrne Host, BBC
Kelly Silvera Executive Producer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer
Jordan Mangi Digital Producer
Jesson Duller Media Producer
Nick Esposito Media Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Olie D'Albertanson Producer, BBC