Student loan payments are set to resume. Here's a potential winning play for investors, BofA says

Federal student loan debt repayments are expected to resume later this year — and one winning stock could emerge from the fallout, according to Bank of America. Payments on federal student loans have been on hold since 2020 as part of pandemic relief measures. With the average bill coming in at about $400 a month , borrowers have enjoyed a lot of flexibility in their budgets while the payments have been paused. Nationwide, outstanding student loan debt stood at $1.

That spells bad news for borrowers' budgets. "The resumption of a monthly obligation that has been suspended for three+ years could pressure consumer finances and weaken credit performance on other loans," said Bank of America analyst Mihir Bhatia in a report Tuesday. But SoFi Technologies could benefit from the resumption of loan payments as borrowers try to refinance their federal student loans, Bhatia said.

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