Department Of Education Prepares To Seize 15% Of Student Loan Borrowers’ Pay

Luke Davis: The country's student loan debt crisis needs attention - The Examiner

The Trump administration has announced it will resume collections on defaulted student loan debt. In a statement, Education Secretary Linda McMahon declared, “American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies.” Starting May 5, the Treasury Department began the process of withholding tax refunds, federal salaries and government benefits from approximately 5.3 million borrowers currently in …

US student loan collections threaten consumer spending power

Fed data shows nearly one in four borrowers has fallen behind on academic debt in first quarter

Department Of Education Prepares To Seize 15% Of Student Loan Borrowers’ Pay

Dire emails flooded the inboxes of millions of defaulted federal student loan borrowers this week, warning that the government will seize a portion of their earnings.

The Student Loan Pause Is Over. Here Are the Steps To Take Now.

Last week, the Trump administration officially restarted collections on defaulted federal student loans, marking the end of a five-year student loan pause that started back in his first term. During the pause, borrowers weren’t penalized for falling behind on repayment. Now, the administration is saying it’s time to pay up. And if you don’t? You could see your wages garnished, your Social Security payments reduced, and yes — even your credit sco…