The Trump administration is set to resume collections on defaulted student loans for the first time in five years, impacting millions of borrowers. With wage garnishments and tax refund seizures on the horizon, many are left anxious and confused about their repayment options.
In a controversial decision, President Trump announced that the Small Business Administration will take over the Department of Education’s $1.8 trillion student loan portfolio, amidst significant agency cuts. This move raises questions about the future of student aid management as the SBA prepares for an avalanche of defaults when payments resume.
