05/08/2025

Trump Administration to Garnish 5.3 Million Defaulted Student Loan Borrowers' Wages This Summer

Affected borrowers could begin feeling the financial consequences soon

The Trump administration resumed collection efforts on defaulted student loans Monday after a roughly five-year hiatus — and affected borrowers could begin feeling the financial consequences sooner than experts expected.

The U.S. Department of Education, which is in the process of being dismantled by the administration, released new details on what actions it plans to take, when.

Here's what to know.

Please select this link to read the complete article from CNBC.