Student Loan Default Consequences

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student loan, New York Fed and Social Security benefits

As student loan default rate spikes, some borrowers face 'grave consequences,' New York Fed says

Millions of borrowers who are late on their student loan payments now face "grave consequences" as collection activity restarts, the New York Fed says.

NBC News on MSN · 1d

Student loan borrowers in default could see up to 15% of Social Security benefits garnished

That involuntary collection activity could have serious consequences on those who rely on the benefits to pay most, if not all, of their bills, consumer advocates say.

USA TODAY on MSN · 7d

Benefits could be withheld from 5.3 million defaulted student loan borrowers, feds say

By the end of summer, 5.3 million defaulted student loan borrowers may lose federal wages and benefits, the Department of Education announced.

CNET on MSN2d

Student Loan Delinquencies Have Doubled. How to Get Back on Track Even if You're Falling Behind

Experts say many borrowers have fallen out of the habit of repayment, which can result in serious consequences.

MarketWatch5d

Debt collection on defaulted student loans has started again. Here’s what happens next.

Student-loan borrowers are likely to start feeling the harshest consequences of falling behind on their debt. The Education Department said it’s resuming debt collection on defaulted federal ...

Detroit News12d

Student loan default collections resume: What to know

After a five-year suspension that began in March 2020, the Trump administration is turning the student loan default ...

11don MSN

A new era for student loans begins with garnished wages on the table

Starting Monday, student loan borrowers who find themselves in default will face government-backed involuntary collections, ...

1don MSN

Student loan delinquencies surge, sending credit scores plunging for borrowers

Student loan delinquencies have surged since a pause in reporting has concluded, with millions facing credit score declines, ...

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