What borrowers need to know about defaulted federal student loans
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Video Description
The Department of Education is resuming collections on defaulted federal student loans after a pandemic-related pause. Approximately five million borrowers are affected, with loans becoming delinquent after 90 days of missed payments and defaulting after 270 days. Dr. Darla Bishop, a financial wellness expert, provides advice on managing defaults, including immediate actions for borrowers, deferring loans through school enrollment, and exploring loan rehabilitation options.
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