Nearly 9 Million Borrowers Missed First Student Loan Payment After Pause
The Department of Education explained that bringing so many borrowers back into repayment at the same time was expected to be a challenge.
Nearly 9 million borrowers missed their first student loan payment after the pandemic pause was lifted. That means around 40% of the 22 million borrowers who had bills due in October did not make payments by mid-November. In comparison, less than 26% of borrowers missed their payment in October of 2019, before the pause went into effect. The Department of…