U.S. Education Department Resumes Collections on Defaulted Student Loans
The U.S. Education Department has announced that it will resume collections on federal student loans in default, impacting over 5 million borrowers. Starting May 5, wage garnishment and involuntary collections will commence for those who have not made payments. This marks the first time in five years that such actions will take place, stirring concerns about the financial impact on millions of borrowers. Educational officials emphasize the importance of accountability in student loan repayment, suggesting that the era of widespread forgiveness may be coming to an end.
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