“Just over half of the millions of borrowers who received their first federal student loan bills in years in October — after the pandemic freeze ended — have paid the bills,” the New York Times reports.
“Officials had long warned that getting borrowers accustomed to paying again after such a long break would be a rocky process, especially after the Supreme Court in June overturned Mr.
Biden’s $400 billion plan to forgive up to $20,000 in debt per borrower. Tens of millions of people would have benefited from that relief.”“Instead, 22 million people had to make their first payment in years in October as the government restarted its collection machinery.”