The Department of Education recently announced that it will start referring student loans that have gone into default to collections starting May 5. Adam Bettcher / Getty Images for We The 45 Million In a press conference, the White House confirmed it will collect money from people who have defaulted on their student loans by
A new rule proposed on April 18 could change how Thrift Savings Plan-based loans are repaid under reamortization terms. The Federal Retirement Thrift Investment Board, which governs the federal government’s 401(k)-style retirement plan, detailed its plan to amend a loan reamorization rule in the Federal Register. The board proposed a combination of accrued interest with the outstanding principal
Student voices concern over the proposed SEPTA cuts during rally Social science honors student Jaylah Fitzgerald, from the Academy at Palumbo, addresses the crowd at the Save SEPTA rally against the proposed transit cuts Millions of student loan borrowers in default could see their wages garnished soon after the U.S. Department of Education announced it
The change will lead to garnished wages and benefits for more than 5 million Americans starting this summer. Collection of defaulted student loans to resume May 5: What to know Since the pandemic, federal student loan borrowers have been mostly protected from the harshest consequences of defaulting. That’s about to change on May 5. WASHINGTON
Do college graduates have regrets about their chosen majors? With the rising cost of college, Americans currently owe nearly $1.8 trillion in student loan debt. What majors are worth the money? The U.S. Department of Education will restart involuntary student loan collections on May 5. Borrowers in default for 270 days or more will face
Borrowers in default could see their tax refunds or other federal benefits withheld once collections resume. J. David Ake/Getty Images The Education Department will resume collecting on defaulted student loans early next month, restarting a system that’s been on hold since spring 2020, the agency announced Monday. Starting May 5, the department will withhold tax refunds
Priority sector refers to sectors that have a significant impact on large sections of the population, the weaker sections, and labour-intensive industries As the overall credit growth in the economy skids due to regulatory tightening and high interest rates, priority sector loans are also witnessing a slowdown. Total lending to the priority sector stood at
New Delhi: Power Finance Corp. (PFC) and Indian Renewable Energy Development Agency (IREDA) are considering a plan to auction the electric vehicles (EVs) that financially troubled Gensol acquired by taking loans from the two public sector financial institutions, said people aware of the matter. Gensol’s EVs were leased to ride-hailing service BluSmart. Gensol and BluSmart
Federal student loan borrowers have endured five years of chaotic changes as various relief programs started, stopped and shifted. But the return to “normal” may be the messiest change of all. Payments formally resumed in October 2023, though former President Joe Biden and his administration paused repayment for certain types of loans for most of
State-run telecom firm MTNL has defaulted on bank loans worth ₹8,346.24 crore from seven public sector banks, the company said in a regulatory filing. The loss-making public sector telecom firm’s total debt obligations reached ₹33,568 crore as on March 31, 2025, according to the filing dated April 19. The total loan default includes ₹3,633.42 crore