The economic recovery is still K-shaped and it's especially bad for student-loan borrowers and parents
Student loans have exacerbated financial problems. Even though payments on student debt haveduring the pandemic, the report found that since the pandemic began, 28% of middle earners with student loans were more worried about paying off their debt — up six percentage points from April 2020. And even more higher earners are stressed about student debt than in an earlier wave of the survey, with 23% of those with student loans worried about making payments.
"When it comes to employment, 40% of lower earners in dual-earning households reported that at least one person had lost their job or had to leave their job. That's three times the rate of higher earners," Donnell told Insider, where the share for higher earners was 14%."We believe some of the impact there comes from childcare." has especially been an issue for lower earners and women.
With the pandemic still in effect, there's no estimate on when financial challenges will be lifted and even though, as the report found, stimulus payments helped 46% of lower earners keep up with their payments in April 2021, lawmakers have yet to say if a"Lower earners seem to have struggled the most.
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