The US economy is barreling toward a 'student loan cliff' as borrowers may soon owe $18 billion in monthly repayments, Jefferies analyst says

• The US economy is barreling toward a 'student loan cliff,' with a moratorium on repayments set to end this year, according to Jefferies. 
• Cash-strapped households could scale back spending if the loan repayments resume, hitting economic growth.
• "The additional risk to overall US economic growth is notable," Tim Simons, an economist at Jefferies, said. 

The US economy is barreling toward a "student loan cliff" as borrowers may owe $18 billion in monthly repayments once President Joe Biden's pause on higher-education loan payments ends later this year, according to Jefferies.