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 Ministry of Colleges and Universities Student Fina 2019-2025

2019-2025 Form

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stocks are rallying after President Trump announced he is not trying to fire the Fed chair millions of student loan borrowers were also about to face collections for the first time in 5 years starting May 5th the education department is resuming debt collection on loans that went into default before the pandemic even as it lays off staff from the agency that helps manage those loans collections had been paused due to the pandemic officials say resuming them protects taxpayers but critics warn the move could push more families into financial trouble let's bring in ABC's Alex Pchet and business reporter Alexis Christopherus to unpack this a little bit more uh so Alexis let's just start with the basics what do affected borrowers need to know you're talking about 5 million people here Diane who have defaulted on their student loans meaning they have not made a payment in at least 270 days that's about 9 months we have another 4 million borrowers on the brink of being in

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