Important Update on Defaulted Student Loans: Over 5 Million Borrowers Affected by New Policy Change
In an announcement that is poised to affect more than 5.3 million Americans, the U.S. Department of Education has confirmed that it will resume involuntary collection on federal student loans currently in default. This policy reversal marks the end of a multi-year payment pause initially instituted during the COVID-19 pandemic, and comes after repeated efforts…