What You Need To Know On Student Loans
During this time of crisis, many individuals with student loans have not been able to make the regular payments owed while balancing the need to pay bills and other necessities to survive. With that in mind the U.S. Department of Education has directed the FSA to stop any wage garnishment and collections actions for student loan borrowers over a designated time frame.
The time period will cover 60 days and has a retroactive start date of March 13, 2020. In addition to halting the garnishments and collections of student loans, U.S. Secretary of Education Betsy DeVos also directed the Department to refund approximately $1.8 billion to the nearly 830,000 borrowers impacted.
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