Good news! Bravo!
This was one of the scandals of the senile, demented and corrupt/compromised 46th President! This was an act of crass vote buying!
How many of these deadbeats are really not capable of making or struggling to make any kind of payments for health or other credible reasons?
How many of these deadbeats have no good excuse at all for not making payments or insufficient payments? I bet, too many!
"The ED's Office of Federal Student Aid will restart collections on May 5 for more than five million borrowers who have not made a payment for at least 360 days. Another four million borrowers — not yet considered to be in default — have not paid in 91 to 180 days.
"As a result, there could be almost 10 million borrowers in default in a few months. When this happens, almost 25 percent of the federal student loan portfolio will be in default," ..."
"The Department has not collected on defaulted loans since March 2020. Resuming collections protects taxpayers from shouldering the cost of federal student loans that borrowers willingly undertook to finance their postsecondary education. ..."
U.S. Department of Education to Begin Federal Student Loan Collections, Other Actions to Help Borrowers Get Back into Repayment "Collections to Restart May 5th, Struggling Borrowers Urged to Act Now"
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