the analyst behind that call joins us now piper sandler managing director, kevin barker thank you forhere >> thanks for having me. >> is it really just all about student loan payments starting back up in the fall? how much pressure does that put on a card issuer like american express? >> american express is starting to see a slowdown in network volume we saw that particularly in the second quarter i think that reinforced our view that the student loan repayments were going to have a pretty hefty impact on american express in particular. just given their customer base and the trends that have been shown. so, you know, the average student borp rower is going to have $400 payment, a medium payment near $250. we expect that to be quite a bit of headwind when -- could have upwards of $5,000 in payments per year that will be in aggregate spending >> student loans are going to pressure the business a bit. you're also looking at the spending of large corporations a lot of companies use american express as a corporate card. >> yeah, we've seen quite a bit of slowdown in large corporate spendin

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