Student Loan Collections Paused: Act Now for Better Repayment
Cleveland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Department of Education Halts Involuntary Student Loan Collections: Borrowers Gain Breathing Room
The Department of Education has temporarily suspended involuntary collections for defaulted federal student loans, providing relief for borrowers. This pause, which comes after plans to restart collections, allows borrowers to explore better repayment options without fear of wage garnishments. Financial experts advise borrowers to seek free guidance from loan servicers and avoid scams. This window of opportunity encourages borrowers to take action to prevent long-term damage to their financial health.
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