The U.S. Department of Education will resume collecting defaulted federal student loans.Cutting expenses suggested.

From Yahoo Finance: 2025-04-23 11:00:00

The Trump administration announced on April 21 that the U.S. Department of Education will resume collecting defaulted federal student loans starting May 5, impacting over 42 million borrowers. There will be no mass loan forgiveness, contrasting with Biden’s proposed plans.

To manage student loan debt, consider cutting expenses like home services, repairs, and maintenance to save thousands annually. Weatherproofing, adjusting thermostats, and reducing energy use can also lower monthly bills. Additionally, reducing dining out and streaming service subscriptions can free up funds for repayment.

Read more: 4 Expenses to Cut Right Now If You Have to Start Paying Your Student Loans Again