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Student Loan Defaults Loom For Millions As Trump Administration Resumes Debt Collections Student Loan Defaults Loom For Millions As Trump Administration Resumes Debt Collections
Student Loan Defaults Loom For Millions As Trump Administration Resumes Debt Collections Millions of federal student loan borrowers are weeks away from default as serious delinquencies surge to record highs after the Trump administration resumed debt collections, economists say. Nearly one-third (31%) of federal borrowers with a payment due were at least 90 days late in April, according to a new report from TransUnion released on Tuesday, June 24. That's nearly triple the pre-pandemic rate of 11.7% and the highest figure on record. Just 0.3% of borrowers were in default by April, but with nearly 5.8 million now more than 90 days late, many are on the brink of defaulti…

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by Chris Spiker
Schools
Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart
Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart Millions of Americans may soon have their wages garnished as the Trump administration resumes student loan collections paused since the start of the COVID-19 pandemic. About 5.3 million borrowers are set to receive wage garnishment notices in the summer of 2025, according to the Department of Education. The federal government officially restarted student loan debt collections on Monday, May 5. Nearly 195,000 borrowers began receiving 30-day warning letters from the Treasury Department. Their Social Security or other federal benefits will be seized through the Treasury Offset …

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by Chris Spiker
News
Trump Administration To Resume Student Loan Debt Collections, Millions Face Seized Paychecks Trump Administration To Resume Student Loan Debt Collections, Millions Face Seized Paychecks
Trump Administration To Resume Student Loan Debt Collections, Millions Face Seized Paychecks The Trump administration will begin seizing tax refunds and garnishing paychecks from millions of Americans in default on their student loans for the first time in five years. The Department of Education announced it will restart collections on its defaulted student loan portfolio on Monday, May 5. The agency said about 42.7 million people owe more than $1.6 trillion in student loan debt. About five million borrowers are already in default, with millions more in late-stage delinquency. "American taxpayers will no longer be forced to serve as collateral for irresponsible student loan p…

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by Chris Spiker
News
$1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible $1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible
$1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible More than 1.1 million Americans are owed a share of over $1 billion in unclaimed tax refunds, but time is running out to collect, the Internal Revenue Service (IRS) has announced. Taxpayers have until Tuesday, April 15, to file their returns and claim their refunds before the money is forfeited to the US Treasury. The IRS estimates that the median refund is $781, meaning half of the refunds are higher and half are lower. Who’s Eligible? Many of those who haven't filed may be due more than just their refund. The IRS warns that low- and moderate-income taxpayers could also be missing out on …

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by Joe Lombardi
Lifestyle
Daddy's Girl Wins $100K Following In Father's Footsteps For Maryland Lottery Win Daddy's Girl Wins $100K Following In Father's Footsteps For Maryland Lottery Win
Daddy's Girl Wins $100K Following In Father's Footsteps For Maryland Lottery Win A Bowie woman followed her father’s footsteps and took home $100,000 during a recent lottery win in Maryland. The woman was with her father, who taught her to play the game, when she cashed in the winning Keno ticket on Friday, Jan. 5, officials said. The ticket was purchased at the Forbes BP gas station at 9701 Annapolis Road in Lanham. “I like to play the Lottery with my dad,” officials were told by the lucky winner, who added the super bonus option to her selections in the six-spot game, going with 02-04-06-07-16-17. The super bonus option added two extra zeroes to what would’ve otherw…

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by Valerie Musson
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