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Defaulted student loan collections resume: What borrowers in NY need to know
The Trump administration resumed the involuntary collections for borrowers with defaulted student loans on May 5, 2025. According to the Department of Education, 42.7 million borrowers owe over $1.6 trillion in student debt and more than five million borrowers haven't made a monthly payment in over a year.
On Monday, Mayor Eric Adams unveiled a new plan to help more than 100,000 city employees enroll in the federal government’s ...
The toughest consequences of late student-loan payments and nonpayments have returned, and many borrowers are buckling — ...
To prevent borrowers from facing bills larger than what they can pay, the government can tie your monthly payment to your ...
Starting May 5, the Education Department will begin involuntary collection through the Treasury Department’s offset program, which withholds ... only now appearing for some, the New York Fed said.
As part of its move to resume collection of these debts, the government has restarted the Treasury Offset Program ... era efforts to forgive student loan debt, there are other ways for ...
A growing number of Americans are asking to borrow money from others in order to pay down their student loans, amid ongoing ...
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