Student loan repayment pause ending soon, causing financial stress for borrowers.

The resumption of federal student loan payments by the end of August and the pending Supreme Court decision on the Biden Administration's debt relief plan could drain hundreds of thousands of dollars from many consumers' budgets, just as the holiday shopping season kicks off, according to experts. Retail sales growth could take a full percentage point hit, with the biggest impact on more discretionary categories. Consumers with student loans are likely to rein in their spending on soft goods like apparel, and brands like American Eagle, Crocs, Foot Locker, Canada Goose, Gap Inc., Nordstrom, Nike, Under Armour, and Victoria's Secret are especially at risk.