The Department of Education announced that it will delay the implementation of involuntary collections on federal student loans, including Administrative Wage Garnishment and the Treasury Offset Program. “The temporary delay will enable the Department to implement major student loan repayment reforms under the Working Families Tax Cuts Act to give borrowers more options to repay their loans,” the agency said in a statement. “These reforms, which include simplifying repayment options and providing an additional opportunity for borrowers to rehabilitate their federal student loans, reflect the Trump Administration’s commitment to provide better support for current and future borrowers in repayment,” it added. SLM (SLM), Navient (NAVI), Nelnet (NNI) and SoFi Technologies (SOFI) have exposure to student loans.
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