Officials have confirmed, “American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies.” Approximately 5.3 million borrowers are in default on their federal student loans. Veuer’s Chloe Hurst has the story!
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00:00Officials have confirmed American taxpayers will no longer be forced to serve as collateral
00:05for irresponsible student loan policies.
00:08Education Secretary Linda McMahon continues,
00:11Going forward, the Department of Education, in conjunction with the Department of Treasury,
00:15will shepherd the student loan program responsibly and according to the law,
00:19which means helping borrowers return to repayment,
00:22both for the sake of their own financial health and our nation's economic outlook.
00:27According to AP News, approximately 5.3 million borrowers are in default on their federal student loans.
00:34No federal student loans have been referred for collection since March 2020.
00:39The pause in payments continued through 2023,
00:42and a final grace period for loan repayments ended in October 2024.
00:46The site reports, additional to the borrowers already in default,
00:50approximately 4 million are between 91 to 180 days late on their loan payments.
00:57For more information, visit www.sverteac.org
00:58www.sverteac.org
00:59www.sverteac.org
01:00The next part, the revenue for loan repayments,
01:01is a beta-free owner of Episode 5,
01:02www.sverteac.org
01:03www.sverteac.org