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 […]
Education Department to restart collections on defaulted federal student loans
The Department of Education announced Monday that it will resume collections on May 5th with default federal student loans. The federal agency said more than five million borrowers are defaulting over a year, and sometimes over seven years, and not making monthly payments. Default student loans have not been collected since March 2020, when it […]
Education Dept. to resume collections on defaulted federal student loans for first time since 2020
The Ministry of Education is poised to resume its default federal student loan collection in May for the first time since 2020. The first Trump administration suspended introducing federal student loans to collections in March 2020 at the start of the Covid-19 pandemic, but the extension has led Trump administration officials to worry that their […]
Blackstone’s defaulted NYC office tower being sold at more than 50% discount
More than a year ago, Blackstone defaulted on a $308 million mortgage on a Manhattan office tower, and that debt is now on sale at a discount of more than 50%. Special servicer Midland Loan Services was hired by brokerage firm Jones Lang LaSalle to sell Blackstone's loans. The loan is backed by 1740 Broadway, […]