Over the three-year-long pause on student loan payments, the U.S. Department of Education has repeatedly told borrowers their bills were set to resume, only to take it back and provide them more time.
It’s official: Student loan payments will restart in October, Education Department says
Tag: Federal Direct Student Loan Program
The Government has Made, not Lost Money on Student Loans.
All federally owned loans could be cancelled entirely, and the government would lose little or nothing.
The Government has Made, not Lost Money on Student Loans.
Biden administration scales back student debt relief for millions amid legal concerns
Biden administration scales back student debt relief for millions amid legal concerns
But there are significant business interests that depend on the federally guaranteed loan program — a wide range of private lenders, banks, guaranty agencies, loan servicers and investors. That industry is widely seen, both inside and outside the administration, as presenting the greatest legal risk to the debt relief program.
Many of those companies face economic losses when they lose borrowers who convert their federally guaranteed loans into new loans that are made directly by the Education Department through a process known as consolidation.
Can’t afford to lose those campaign donations!
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