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Author Topic: Student loan borrowers in default begin facing debt collections  (Read 165 times)

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Online mystery-ak

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Student loan borrowers in default begin facing debt collections
« on: May 05, 2025, 10:36:09 am »
 Published May 5, 2025 7:35am EDT
Student loan borrowers in default begin facing debt collections

Move comes after Secretary of Education Linda McMahon said the Biden administration 'misled borrowers’

By Greg Norman FOXBusiness

Millions of student loan borrowers in default will start receiving notices on Monday that they are being put into collections.

The move comes after the Department of Education said last month that it is trying to protect U.S. taxpayers "from shouldering the cost of federal student loans that borrowers willingly undertook to finance their postsecondary education."

"American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies," Secretary of Education Linda McMahon said in a statement. "The Biden Administration misled borrowers: the executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear."

The Department of Education said its "Office of Federal Student Aid (FSA) will resume collections of its defaulted federal student loan portfolio on Monday, May 5th," after not doing so since March 2020, which was the beginning of the coronavirus pandemic.

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https://www.foxbusiness.com/economy/student-loan-borrowers-default-begin-facing-debt-collections
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Online DefiantMassRINO

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Re: Student loan borrowers in default begin facing debt collections
« Reply #1 on: May 05, 2025, 10:51:31 am »
#TooEducatedToFail
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Re: Student loan borrowers in default begin facing debt collections
« Reply #2 on: May 05, 2025, 10:54:43 am »
Face it flounders you f'd up and trusted Biden.
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Offline Smokin Joe

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Re: Student loan borrowers in default begin facing debt collections
« Reply #3 on: May 05, 2025, 11:34:56 am »
It's time for 'Credit Score 101'.
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Offline DB

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Re: Student loan borrowers in default begin facing debt collections
« Reply #4 on: May 05, 2025, 11:35:22 am »
Quote from: Wingnut on May 05, 2025, 10:54:43 am
Face it flounders you f'd up and trusted Biden.

Hey, that's senate material...
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Re: Student loan borrowers in default begin facing debt collections
« Reply #5 on: May 05, 2025, 12:55:00 pm »
Quote from: DB on May 05, 2025, 11:35:22 am
Hey, that's senate material...

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Online mystery-ak

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Re: Student loan borrowers in default begin facing debt collections
« Reply #6 on: May 05, 2025, 01:08:24 pm »
Remember when people were posting their letters from the government on X saying their loans were going to be paid off?.....did they ever get the money?
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