The average shopper with student loans is a 37-year old earning $65,000 whose philosophy is 'Live for Today'

• Student-loan payments will start up again soon, potentially causing a slowdown in consumer spending.
• UBS polled almost 1,400 student-loan borrowers, asking them about their spending habits.

Student-loan repayments are set to start up again soon, impacting the finances of millions, and potentially the economy at large.

UBS says the resumption of payments could cause an underappreciated slowdown in consumer spending, with analysts led by Jay Sole pointing to a possible sharp reduction in spending on clothing in particular.

As part of the bank's research, it carried out an online survey of 8,499 consumers over 18, of which close to 1,392 have student debt. The survey results reveal a bunch of fascinating findings, especially when student loan consumers are compared against the average US adult over 18.

Here are some of the takeaways:

• The average age of a student loan consumer in the survey was 37 years old, versus 47 for US adults.
• These consumers are more likely to be single or living with an unmarried partner than the broader pool of adults. They're also more likely to be renting versus owning their home, and more likely to live with their family.
• The average income for student loan consumers was $65,400, slightly less than the $66,200 for the average US consumer.
• They're typically carrying more credit card debt than the average US adult, are more likely to pay the minimum balance on their credit card each month, and are much less likely to pay it off in full each month.
• Student debt consumers are much more likely to say familiar labels are important to them when buying clothes, and to say that the newest trends and styles are important to them.
• They're also impulsive shoppers. When presented with the phrase 'My philosophy of spending is "Live for today" because tomorrow is so uncertain,' 62% of student loan shoppers agree or strongly agree, versus 47% for US adults.
• Student loan consumers are more likely to have purchased something from Nike over the past six months than any other brand. Levi's Jeans, Calvin Klein, and Under Armour all feature prominently, also.
• Still, when they cut back on spending, it's apparel spending and entertainment that are most likey to go.

UBS argues the end of the student loan payment moratorium will hit a bunch of brands and retailers like American Eagle Outfitters, Nike, and Gap.

"Our new analysis of US consumers with student loans suggests they are likely to disproportionately reduce spending on softgoods vs. other categories as they shift funds to paying down student debt," the note reads. "Furthermore, these consumers prefer brands over private label and specialty retailers over discounters."

To be sure, there are tens of millions of student-debt borrowers, and so any survey drawing conclusions about the typical members of that group will miss a lot of the unique circumstances many borrowers face. But the UBS survey results also echo findings elsewhere around younger Americans.

I noted in a recent story about the impact the housing market was having on Gen Zers and millennials, for example, that many 20-somethings and 30-somethings are economically anxious, and felt their finances dominated their lives.

A study by TIAA Institute earlier in the year found that 41% of young adults said their finances control their lives, while 26% of 24-27 year olds listed paying off student loan/education debt as an important financial goal.

As my colleague Ayelet Sheffey has reported, the Biden administration remains confident that the Supreme Court will rule in its favor over the legality of its student debt forgiveness. Time will tell on that one.

In the meantime, we're about to find out what impact the resumption of repayments will have on spending.