40 million Americans had their student loan payments paused for almost three years, and then had reason to believe (for 10 whole months) that $20k of their loans would be eliminated.

10 months is plenty of time to change habits— meaning, those borrowers probably got used to spending the money they would normally be putting towards student loans.

When student loans resume in September / October, that will directly pull discretionary money out of the economy.

Here are the companies I think will get hurt:

Walmart $WMT

Target $TGT

Home Depot $HD

Kroker $KR

Foot Locker $FL

Who am I missing?