Trump administration resumes forced collections on student loan debt
The Department of Education has resumed federal student loan collections, emphasizing the shared responsibility to protect taxpayers from unpaid debts. Following a suspension during the Covid-19 pandemic since March 2020, this restart is expected to impact around 5.3 million borrowers currently in default on their federal student loans. Education Secretary Linda McMahon mentioned that as […]
Borrowers with defaulted student loans are now dealing with debt collections.
Starting Monday, millions of borrowers who have defaulted on their student loans will get notifications about their accounts being sent to collections. This decision follows the Department of Education’s announcement last month aimed at shielding U.S. taxpayers from bearing costs linked to federal student loans. The department emphasized that borrowers willingly took on these loans […]
NYC Public Advocate Jumaane Williams forfeits Brooklyn home to the bank after accumulating nearly $1M in mortgage debt
A socialist experiences a significant downfall in capitalism. Jumaane Williams, the NYC public advocate, has recently lost a two-family home he owned in Brooklyn. This situation arose after he had taken out real estate loans to support what turned out to be a failing business venture. A judge sided with the bank in January, granting […]
Mother of autistic son facing £10,000 debt after exceeding DWP rules by £1.92 weekly | Carers
The letter arrived three weeks after Christmas, and Gai Shahar and his wife Oksana exchanged looks of stunned disbelief. They had been following reports about a scandal linked to caregiver allowances that had left many families struggling with debts and criminal records. But they thought they were safe from it. Reading the letter, which was […]
Saudi Arabia, Qatar To Settle Syria’s $15 Million World Bank Debt: Report
Riyadh: Saudi Arabia and Qatar announced on Sunday that they would resolve Syrian debts totaling around $15 million, according to a statement released by Saudi media outlets. Both Gulf countries have played a key role in diplomatic outreach to new Syrian rulers since the long-standing expulsion of Strongman Bashar al-Assad in December. “The Kingdom of […]
Trump admin to seize wages, pensions of those in default on student loan debt
The White House targets Biden-era student loan forgiveness plans Dana Perino, co-anchor of “American Newsroom,” joins Fox & Friends, to close the Biden-era student loan forgiveness program and discusses the White House’s efforts to share insights from her new book, “I Someone Says to Me.” According to the White House, those who refuse to pay […]
Trump admin to go after pensions, wages and tax returns to claw back student loan debt
WASHINGTON – The Trump administration announced Tuesday that it will chase pensions of people who seized wages and refuse to pay back federal student loans that defaulted. “The government can collect defaults on federal student loan obligations by withholding money from borrowers, tax refunds, federal pensions and even wages. The education department had announced a […]
Student loans in default will be referred to debt collection next month: Trump’s DOE
The Department of Education announced Monday it will resume its collection of student loan debt for next month, including decorating wages for default borrowers. The collection, which has been suspended since March 2020, will resume on May 5th and is expected to affect around 5.3 million borrowers now with federal student loan defaults. “U.S. taxpayers […]
DoEd to Restart Involuntary Student Debt Collection After Pandemic Pause
The Department of Education (DOED) is preparing to resume unwilling debt collections for its default federal student loan portfolio after suspending collections during the Covid-19 pandemic, the department announced Monday. The Federal Student Aid Agency (FSA) will officially resume collections of its default federal student loan portfolio on May 5th. Until then, default borrowers have […]
Why Trump’s Treasury sec would have zero interest in using ‘forever bonds’ to refinance the nation’s staggering debt
Among the crazy things being discussed on the edge of the Trump economic team these days is the issue of “eternal bonds” to refinance the country’s incredible debt, and the Post has learned to do so as part of current trade negotiations. I have been asserted by people close to Treasury Secretary Scott Bescent, Trump’s […]