Collections on Defaulted Student Loans Begin. A DFW Banking Executive Shares Tips

Collections on defaulted student loans begin. A DFW banking executive shares tips

The U.S. Department of Education began efforts in May to collect on student loans that are in default. More than 5 million borrowers nationwide are in default, or overdue on their student loans by 270 days or more, according to the department.Texas has 3.8 million student borrowers, according to the Education Data Initiative. More than a quarter — 25% to 29% — of Texas student loan borrowers are in default, according to Newsweek. Fort Worth-spec…

Federal loan default collections resume: What borrowers need to know – The Bay State Banner

After a five-year pause, the federal government resumes debt collections for millions of borrowers who defaulted on their student loans.