More Than 15% of All Student Loan Debt is Past Due. The Fed Says Borrowers Could See Their Credit Scores Drop More Than 170 Points.
In 2022, faced with major credit issues due to ballooning student loan payments and COVID related economic problems, the Department of Education began a program they dubbed “Fresh Start”. This program basically erased student loan defaults from millions of borrowers’ credit reports and moved them into a “current” status. The program also allowed borrowers to…