The Consumer Financial Protection Bureau (CFPB) cautions that 1 in 5 student loan borrowers face challenges as loan payments resume this fall. The recent bipartisan agreement to raise the federal debt ceiling, signed by President Joe Biden, officially ends the prolonged pause on federal student loan payments, potentially hindering future extensions. With the next due date expected in September, the CFPB predicts a potentially difficult transition for the 40 million Americans with student loans.
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Summary
Article Name
Consumer Watchdog: 1 in 5 Student Loan Borrowers Face Post-Resumption Struggles
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The Consumer Financial Protection Bureau (CFPB) cautions that 1 in 5 student loan borrowers face challenges as loan payments resume this fall.
Author
Susan Jane
Publisher Name
CNBC
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