Student-loan borrowers will still be expected to pay their bills if the government shuts down, but they could face challenges getting help assessing their options.
If lawmakers don’t pass a spending bill before Sunday, when the federal government’s new fiscal year starts, the government will shut down partially because it lacks the funds to operate. Hardline Republicans are holding up the process with demands for bigger spending cuts and other priorities. In addition, in the past, the agency could use models of typical call activity during a potential shut-down period to ensure servicers and the agency have the resources necessary to support borrowers, he said.
In a 2021 contingency plan for a government shutdown, the Department of Education said basic operations, including servicing federal student loans “could continue for a very limited time,” but could “also experience some level of disruption.”
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Source: Slate - 🏆 716. / 51 Read more »