Tag Archives: federal student loans

The U.S. Department of Education said Monday that it will resume collections May 5 for defaulted federal student loans. After pausing during the early weeks of the COVID-19 pandemic, the agency has not collected on defaulted loans in over five years. More than 5 million borrowers sit in default on their federal …

President Donald Trump announced Friday that the Small Business Administration (SBA) will take over management of the country’s $1.6 trillion federal student loan portfolio, removing it from the Department of Education. “We have a portfolio that is very large, lots of loans, tens of thousands of loans, pretty complicated deal,”Trump …