What to know about student loan repayment plans and collections [Globe and Mail, The (Toronto, Canada)]
NerdWallet, Inc. (NRDS)
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Source: Globe and Mail, The
At the same time, borrowers had to stay on top of changes to key forgiveness plans. President Donald Trump's “Big Beautiful Bill” introduced new borrowing limits for graduates and raised challenges to the Public Service Loan Forgiveness program. While several changes for student loan borrowers will take effect this summer, other key questions remain unresolved. More than 5 million Americans were in default on their federal student loans as of September, according to the Education Department. Millions are behind on loan payments and at risk of default this year. Borrowers "genuinely struggle to afford their loans and then to hear that the administration is making it more expensive and taking away some of the tools and resources that help folks afford their loans is really, it's panic-inducing,” said Winston Berkman-Breen, legal director at Protect Borrowers. Last month, the Education Department announced that it would delay involuntary collections for student loan borrowers in
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