Collections on Student Loan Borrowers in Default Resume
in Student Aid
After a five-year hiatus, the U.S. Department of Education says it will begin resuming collections of defaulted student loans on May 5. Of the more than 42.7 million student loan borrowers in the U.S., who owe a collective $1.6 trillion, the department says that more than 5 million have not been able to make payment in the past year. That number is expected to grow as an additional 4 million borrowers are approaching default status.…
Read More »