After two years of federal student loan payment suspensions, the government expects it will not be easy to get millions of borrowers back into repayment.
Lightspeedshutter | Istock | Getty Images
After two years of federal student loan payments being suspended because of the Covid pandemic, the government doesn't expect an easy process to get millions of borrowers back into repayment.by the Government Accountability Office, which found that as many as half of people with federal student debt may be at increased risk of delinquency.
The Education Department may also have outdated contact information for millions of borrowers, posing additional challenges to communicating about the resumption of payments, GAO found. Even before the pandemic, the country's outstanding student loan debt balance exceeded $1.7 trillion and posed a larger burden to households than credit card or auto debt. Roughly a quarter of borrowers, or 10 million people, were estimated to be in delinquency or default.
As of now, student loan payments are scheduled to resume in May. Here's what borrowers worried about the change should know.If you're still unemployed or dealing with another financial hardship because of the pandemic, you'll have options come May.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Warriors start second half on emphatic note with blowout of BlazersSteph Curry had a double-double by the end of the first half as Golden State started the stretch run of its season with a 37-point win in Portland.
Consulte Mais informação »
Black New Yorkers make up half of misdemeanor prosecutions in NYC, study findsIn 2019 and 2020, Black people accounted for 49.8% of those charged with misdemeanors despite making up just about a quarter of NYC's population, according to a new study. Latinos were also overrepresented. Such cases rarely resulted in convictions.
Consulte Mais informação »
Over Half of U.S. Abortions Now Done With Pills, Not SurgeryA new report shows over half of U.S. abortions are now done with pills rather than surgery.
Consulte Mais informação »
Over half of U.S. abortions done with pills, survey findsUse of the two-pill method increased significantly in 2020, a trend that spiked during the pandemic with the rise of telemedicine, according to Guttmacher Institute research.
Consulte Mais informação »
Over half of Alaska Native Medical Center’s menu includes Alaska Native ingredientsAbout 66% of the hospital’s menu uses traditional Alaska Native ingredients. This can include items such as moose, wild-caught salmon, and seal.
Consulte Mais informação »