US graduates brace for return of student loan repayments
Collection Industry News
SEPTEMBER 30, 2023
After a three-and-a-half year pandemic-era pause, US federal student loans start accumulating interest again from Friday, with repayments set to cut the monthly take-home pay of millions of Americans by hundreds, and in some cases thousands, of dollars. Joe Biden campaigned for president on a pledge to forgive at least $10,000 in student loan debt for millions of Americans, and unveiled a $400 billion program to do just that after taking office.
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