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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Trump's Student Loan Crackdown Begins on May 5 and No One's Safe, Not Even Seniors

Donald Trump Social Security Linda McMahon United States FSA
Over 42 million Americans owe $1.6 trillion in student loans. (Credit: AFP News)

On Monday, the US Department of Education announced that it will compel defaulted student loan borrowers into repayment, starting 5th May, by resuming collections, in some cases by seizing federal benefits like Social Security and automatically garnishing their wages.

Furthermore, student loan borrowers falling behind will also see their credit scores go down. US President Donald Trump is bringing back collections on defaulted student loans for the first time in five years.

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