The student-loan payment pause didn't help most of the 7.7 million borrowers who were behind on federal bills at the start of the pandemic. 93% of them still are.
from the Education Department reveals that of the 7.7 million federal student-loan borrowers in the US that were behind on payments at that start of the pandemic, 93% are still behind — despite a nearly two-year pause in payments.
But in order to participate in the program, borrowers had to complete significant amounts of paperwork and communicate with their student-loan company, which, as Insider has reported, is"It is no exaggeration to say that even with massive federal intervention to provide borrowers a pathway out of default during COVID, hardly any borrowers successfully accessed it," the Student Borrower Protection Center wrote in its analysis.
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