The federal government could shut down just as student loan payments restart. What that means for borrowers

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Education Education Headlines News

Education Education Latest News,Education Education Headlines

The U.S. federal government could shut down at around the same time student loan payments restart. Here's what borrowers can expect.

"There should be minimal disruption of student loans, since the process is mostly managed by student loan servicers and other contractors," Kantrowitz said.

Because most federal student loans are paid for with mandatary funding, new borrowers also shouldn't face any disruptions if there's a government shutdown. It's discretionary funding that Congress decides on each year and would be impacted by a shutdown.There are some borrowers who could be impacted by the stalemate in Washington. That's because certain processes require loan servicers to consult the Education Department.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in EDUCATİON

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Woman's student loan cancellation means Biden admin actually owes her moneyStudent loan borrowers who make more monthly payments than they have to will get refunded by the federal government.
Source: Newsweek - 🏆 468. / 52 Read more »

Navigating student loan debt: Repayment programs, looming threats as payments resume October 1As federal student loan payments resume October 1, experts share what programs borrowers should be aware of and how scammers may target your hope of becoming de
Source: 13WHAM - 🏆 256. / 63 Read more »

Frustrated student-loan borrowers brace for payments to resume, but they have repayment optionsPeople with student debt have spent the last several years in a political tug-of-war, so it's hard to figure out what is and isn't happening. KSL Investigates hopes to answer those questions.
Source: KSLcom - 🏆 549. / 51 Read more »

Here are five tips for borrowers before student loan payments resume in OctoberHow to get lower payments and discounts – and why you might not want to refinance into a private loan.
Source: KUT - 🏆 77. / 68 Read more »

Stock investors face a wall of worry into year's end, creating the need for protectionRising oil prices, ongoing labor strikes, a potential U.S. government shutdown, and the resumption of student-loan payments are among the risks for investors.
Source: MarketWatch - 🏆 3. / 97 Read more »