Every time a PHP script/page that uses sessions is accessed, the session data has to be read.
By default, that data is stored on disk as files (you can override that and use a database, for example)
So, basically, for every page load some amount of session data has to be read (and, very likely, written) by PHP. The more data you store in a session, the bigger the session files get.
If you only store a few variables, there is no problem. But if you start storing something like huge arrays, you'll run into problems if your hit rate increases.
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If you want to "keep code simpler" by storing as much data as possible in a session, you might create more problems instead. For example - should you want to enable API access in the future, you'll possibly have to remove a lot of session data storage/retrieval code and replace it with other methods.
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Might be unrelated to your problem:
If you want to store some sort of global application state in a session so you don't have to recalculate it, you should use some other caching methods instead of sessions.