President Trump his dismantling the Department of Education and as part of that, people who have Student Loans will see those loans handled by the Small Business Administration (SBA) which has orders to "Collect."
Nine-million federal student loan borrowers, who are late on their bills, may see their credit scores tank by as much as 129 points as the SBA begins collecting the student loan money back.
According to the Wall Street Journal, out of the millions of Americans who still owe payments on federal student loans about 43% of borrowers haven’t resumed their monthly payments, which were temporarily suspended during the COVID-19 farce.
That puts more than 9 million Americans at risk of a serious credit-score drop.
This might have ripple effects throughout the American economy including distancing homeownership or buying a new car becoming further out of reach for young Americans.
Hal Turner Editorial Opinion
Most of those who are not repaying their student loans are liberal/Democrats who thought they could get out of paying when former (illegitimate) President Joe Biden tried buying their votes (in the 2024 election) through promises of student loan forgiveness.
Now that a real President again occupies the Oval Office, the entire Democrat bribe-for-votes is no longer on the table and the deadbeats have to pay up.
