Student Loan Collections Are Back! What You NEED to Know 💰 It’s official — after a long pandemic pause, student loan collections are back . Starting May 5, the federal government will restart collecting defaulted student loan payments, and millions of Americans are about to feel the pressure. If you thought the debt crisis was bad before, buckle up. We’re entering one of the harshest financial landscapes in recent memory, and for many borrowers, it’s going to be a brutal wake-up call. For the first time since 2020, the U.S. Education Department will once again be enforcing collection on defaulted loans using aggressive tactics through the Treasury Department. That means your tax refunds, wages, and even Social Security benefits could be garnished. Yes, even grandma’s check is at risk if she co-signed on a student loan and it’s in default. 😳 Education Secretary Linda McMahon made it very clear: taxpayers will no longer “serve as collateral” for unpaid student debt. While some...
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