Biden administration will give millions of student loan borrowers in default a fresh start — here's what you need to know.
The U.S. Department of Education is moving to pull millions of federal student loan borrowers out of default status and mark their accounts as current.The U.S. Department of Education in Washington, D.C.
last week that the ongoing payment pause on federal student loans would be extended for another four months, the Biden administration also offered good news to borrowers who were behind on their debt payments prior to the pandemic.it will move to pull millions of loan borrowers out of default and mark their accounts as current.The country's outstanding education debt balance exceeded $1.7 trillion and posed a larger burden to households than credit card or auto debt.
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