US Education Department Resumes Student Loan Payments Amid Financial Struggles.
The US Education Department is facing a cash crunch and has made cuts to customer service ahead of the restart of student loan payments for 43 million Americans. Officials worry that the agency may not have enough funding to implement a smooth return to repayment, and borrowers may struggle to connect with loan servicing companies. The Education Department is considering a range of borrower-friendly initiatives to help people resume their payments, but needs adequate funding to bring these initiatives to life. Borrowers should rebuild their budget, make payments even though they don't have to, and find the best repayment plan to make their student loan repayment as pain-free as possible.
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