US EditionFederal student loan borrowers in default, CNN wants to hear from you
- The Department of Education will restart collecting defaulted federal student loans on May 5.
- This action ends a pause on collections that began during the COVID-19 pandemic.
- Collection efforts will include withholding federal payments through the Treasury Offset Program.
- Approximately 5.3 million borrowers are currently in default on their federal student loans.
- The decision draws criticism from advocates concerned about the impact on these borrowers.
48 Articles
48 Articles
Biden's Administration Callously Resumes Loan Collections Amidst Economic Upheaval - Real News Now
The upcoming transition could potentially cut into the income and benefits of over 5 million Americans as early as this summer. The COVID-19 pandemic had provided a temporary respite for federal student loan borrowers, shielding them from extreme consequences associated with loan defaults. This, however, is rapidly changing. The U.S. Department of Education has recently roused concerns stating that involuntary collections for those defaulting on…
Women could be most affected by Trump's penalties for overdue student loans
For the first time in five years, student loan borrowers whose payments are long overdue could face stiff consequences, and that puts a disproportionate number of women at further financial risk. The Department of Education announced Monday that, starting on May 5, its Office of Federal Student Aid (FSA) will start collecting student debt in default. Delinquent borrowers could have their wages garnished as early as the summer. The COVID-19 lock…
Secretary McMahon Restores Accountability on Defaulted Student Loans Biden Ignored
As part of her efforts to overhaul the federal education system, Education Secretary Linda McMahon is restoring accountability to the federal student loan system. Beginning May 5, the Department of Education will resume involuntary collections on defaulted federal student loans, ensuring that borrowers honor their commitments and taxpayers aren’t left footing the bill. Since March 2020, the department has halted collections on defaulted studen…
Federal student loan borrowers in default, CNN wants to hear from you
The Department of Education has recently announced that it will restart collecting federal student loans in default on May 5, putting millions of borrowers at risk of having their benefits and wages garnished.
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