US EditionHow are you managing federal student loan debt?
- Starting Monday, the US Education Department will resume efforts to recover defaulted federal student loans, ending a suspension of collections that has been in place for nearly five years due to the pandemic.
- This resumption follows over 5 million borrowers currently in default after missing payments for 270 days, while some policies on loan forgiveness have been rolled back.
- The government will reactivate the Treasury Offset Program, garnishing federal and state payments including tax returns, Social Security benefits, and wages to recover debts.
- More than 9 million borrowers could see credit scores fall by 87 to 171 points on average, with delinquencies expected to reach record highs, significantly impacting their financial status.
- Student loan borrowers face anxiety and struggle to afford basics, indicating that the loan collection restart may worsen their financial difficulties and creditworthiness.
19 Articles
19 Articles
How are you managing federal student loan debt?
By Alicia Wallace, CNN (CNN) — A record-high percentage of student loan borrowers are delinquent, and the federal government is resuming collections on accounts in defaults. These developments are coming at a time when steep tariffs threaten to increase already high costs of living. We’re looking to learn how you are managing student loans and other debts as well as to what extent you are leaning on financing options such as buy now, pay later a…
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Federal student loan collections resume after long pause
UNITED STATES - The Department of Education is ending a nearly five-year pandemic-era pause on student loan collections starting Monday. This decision could affect more than five million borrowers across the United States.
Start your week smart: Student loan debt, Trump AI image, Met Gala, papal election, Cinco de Mayo
(CNN) — Are you reeling from the recent stock market gyrations? Afraid to look at your 401(k) balance? Does it feel like we’re already in a recession? We’ve got you covered. Check out CNN’s guide to financial sanity in a…
Student Loan Collections Restart May 5th – 710am KURV
Federal officials say the government will begin collecting defaulted student loan payments starting Monday. The collection efforts will be the first since the start of the pandemic. The Trump administration said the debt will be collected through a Treasury Department program that withholds payments from tax refunds, wages and government benefits. The U.S. Education Department has not collected loan payments since March 2020. Officials say in the
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