Student loan crackdown: US to cut wages from January as defaults cross 5.5 million |
The Trump administration will start taking money directly from the paychecks of some student loan borrowers beginning in January, the US Department of Education has said. This applies to people who have not paid their federal student loans for a long time and are officially in default. The move is part of a bigger push to collect unpaid student loans, which began earlier this year after years of pandemic relief.
Starting the week of January 7, around 1,000 borrowers who are already in default will receive official notices from the Education Department. These notices will tell them that the........