The student aid office is delaying or curtailing plans to help millions of Americans ease back into the routine of paying their student loans after a three-year pandemic-era pause.
The student aid office is delaying or curtailing plans to help millions of Americans ease back into the routine of paying their student loans after a three-year suspension brought on by the pandemic. The funding crisis is forcing the Office of Federal Student Aid to make sacrifices, including cuts to customer service hours and outreach, that experts worry could place already vulnerable borrowers at higher risk of falling behind on their payments.
“A very robust investment is needed,” said Sarah Sattelmeyer, a higher-education project director at the think tank New America. “The programs FSA administers touch every student and every school and every borrower.” The agency has already said it will roll out the new income-driven plan, which promises lower monthly bills and a shorter path to loan forgiveness, in stages. The proposed plan, which still hasn’t been finalized, was
Getting millions of people to start paying a bill after a three-year break is no small feat, Education Secretary Miguel Cardona“Never has this ever been done where — depending on the decision of the Supreme Court — up to 43 million borrowers are going to start repaying,” Cardona told lawmakers. “It’s a huge lift for our team.”
“The Department remains focused on doing everything in its power to better serve students and borrowers, and we are fully committed to supporting student loan borrowers as they successfully navigate returning to repayment,” an agency spokesperson said in a statement to The Post.Lawmakers and congressional staff say the department told them in a recent briefing that FSA will move available money around to support the resumption of student loan payments. But Rep.
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