It’s been about five years since the Biden Administration paused college loan repayments. Last month, President Donald Trump announced collections would resume beginning May 5. According to the Department of Education, more than 5 million borrowers have not made a payment in more than 360 days. This number could double to 10 million in just
NEW YORK (AP) — Between collections resuming, courts blocking student loan programs and layoffs at the Education Department, borrowers might be confused about the status of their student loans. Recently, the Education Department announced it would start involuntary collections on defaulted loans, meaning the roughly 5.3 million borrowers who are in default could have their
The Department of Education has resumed collection on debt from millions of defaulted student loans for the first time in five years. You may be wondering: what are your rights if a debt collector contacts you? And how can you be sure the call is legitimate, with scammers looking to prey on vulnerable borrowers? If
The federal government has resumed collections on defaulted student loans, and nearly 200,000 borrowers could soon see wage garnishment, tax refund seizures, and even Social Security offsets. After a five-year pause, aggressive collection actions are officially back, putting many Americans’ financial stability at risk. If you have federal student loans in default, time is critical
The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year. That means consumers looking to borrow are likely to have to wait a bit longer for better deals on many loans, but savers will benefit from steadier
Millions of student loan borrowers could face a wake-up call Monday as the Department of Education resumes collecting on school loans. The restart of collections comes as data from a recent analysis shows delinquency rates are at an all-time high. After nearly five-years since the U.S. government first paused federal student loan payments and interest
The House Education and the Workforce Committee advanced a new proposal this week that, if enacted, could drastically reshape how Americans pay for college, with reforms to federal student loans and financial aid programs. Why It Matters More than 40 million Americans hold federal student loan debt, per Education Data Initiative. For some, repayment of
HELENA — Whether you are graduating within the next couple of weeks or graduated years ago, chances are you will soon have to start repaying your federal student loans. “Sometimes I have students who think they know exactly what they need to do, and when we sit down and have a conversation – next thing
WASHINGTON, DC – JANUARY 20: President Donald Trump signs executive orders in the Oval Office of the … More White House on January 20, 2025 in Washington, DC. Trump takes office for his second term as the 47th president of the United States. (Photo by Anna Moneymaker/Getty Images) Getty Images Trump Executive Order On College
In less than two weeks, the U.S. Department of Education will resume collecting student loans in default and that means millions of borrowers will have to start making payments or risk having their wages garnished. After years of paused student loan payments, millions of borrowers are still struggling to restart repayment, and some, like Conrad