Millions of student loan borrowers still aren't paying their bills
(FOX BUSINESS) – Millions of Americans strapped with student loan debt are still not paying their bills after a three-year payment hiatus ended this fall.
Federal student loan payments restarted at the beginning of October after President Biden declined to extend the pandemic-era pause that first began in March 2020 under his predecessor, former President Donald Trump.
However, 40% of the 22 million borrowers who had bills due failed to make a payment as of mid-November, according to a new report published by the Department of Education. That means about 9 million Americans who have payments due are not making them.
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