Collection Efforts For Student Loans Are Now Halted For Some Borrowers — 5 Key Takeaways

Student-loan borrowers are facing debt-relief whiplash under Trump

President Donald Trump's administration is creating uncertainty for student-loan borrowers.Chip Somodevilla/Getty ImagesTrump's administration announced a pause on wage garnishment and tax refund seizure for defaulted student-loan borrowers.At the same time, thousands of borrowers are waiting for debt relief through income-based repayment plans to be processed.The uncertainty is making it difficult for borrowers to financially prepare.If there's…

Collection Efforts For Student Loans Are Now Halted For Some Borrowers — 5 Key Takeaways

The Education Department has suspended certain collections efforts for student loans, giving borrowers some breathing room. Here's what it means for borrowers.

Student loan borrowers urged to act while wage garnishments suspended

With wage garnishments currently suspended, there’s a window of opportunity to get ahead—before debt collection efforts intensify.