AI & Machine Learning

How millions of student-loan borrowers will be affected by their transfer to the Treasury

Ali Nemati2 days ago24 sec read2 views

The Treasury Department will take over management of millions of defaulted student-loan borrowers' accounts from the Education Department in phases, aiming to improve servicing and collection efficiency. However, borrower advocates are skeptical about this move, fearing it may exacerbate financial hardships for vulnerable borrowers and lack expertise in handling student loan rights and benefits.

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How millions of student-loan borrowers will be affected by their transfer to the Treasury

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