Monday, March 4, 2024
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Over 300K student loan borrowers got monthly bills with the wrong amount

Over 300K borrowers of student loans got monthly bills with the wrong amount when repayment resumed this month, after a three-plus year pause.
WASHINGTON — An estimated 305,000 people initially received federal student loan bills with the wrong amount – many with charges higher than they should be – when payments resumed this month after a three-plus year pause.
The Department of Education identified the errors and directed student loan servicing companies to place the impacted borrowers in an administrative forbearance during which they are not required to make payments.

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