Resumption of student loan payments
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The government can seize a borrower's entire federal tax refund, and in some states their state refund, to collect on a defaulted federal student loan. This only applies when the amount borrowed exceeds or matches the tax refund amount. Otherwise, if you owe less, only that will be taken.
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MiBolsilloColombia on MSN5.6 million americans labeled as delinquent with Student Loan payment resumptionThe resumption of student loan payments post-pandemic has left millions of Americans grappling with financial strain.
New delinquency reports will hurt the credit scores of borrowers who fail to make payments on their student loans.
Millions of borrowers who are late on their student loan payments are at risk of falling behind on other debts, the New York Fed says.
Student loan debt has jumped up in the wake of the Trump administration’s choice to resume student loan reporting and collection.
Federal student loan borrowers in default may soon suffer wage garnishments, among other consequences. Taking action now can help prevent your funds from being withheld.
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Students who borrow federal loans for their education could be in repayment for up to 30 years under the House Republicans’ new legislative package.
As May comes to a close, USF students look forward to new beginnings. For many, that future comes with the weight of student debt. The Department of Education published a press release on April 21 announcing it would restart collections on defaulted federal student loans on May 5.
They must juggle those obligations with a new (or returning) monthly loan payment. "The resumption of student loan payments comes as consumers continue to face sky-high interest rates and elevated ...