(The Center Square) — U.S. Sen. Raphael Warnock, D-Georgia, wants the U.S. Department of Education to explain how it plans to implement its “fresh start” plan for borrowers in default on their student loans.
In April, the education department extended the pause on federal student loan repayments to Aug 31. Warnock joined several of his colleagues, including U.S. senators Elizabeth Warren, D-Massachusetts, and Bernie Sanders, I-Vermont, in a letter to the education department.
“This pause will bring relief to countless Georgians, which is why I’m asking the Department of Education to efficiently explain how it plans to implement its ‘fresh start’ plan to student loan borrowers,” Warnock said in a statement.
The senators said more than 7 million borrowers are currently defaulting on their federal student loans. According to reports, President Joe Biden, a Democrat, has indicated he is open to forgiving some student loan debt.
According to CNBC, the nation’s outstanding education debt is more than $1.7 trillion.
“Removing these borrowers from default when student loan payments and collections resume means that millions will not be immediately subject to wage garnishment, tax refund withholding, and aggressive collections practices that threaten to undermine their economic security,” the senators wrote. “It also makes these borrowers eligible to enroll in Income-Driven Repayment plans.”
By T.A. DeFeo | The Center Square contributor