The U.S. Department of Education building in Washington, DC, on August 21, 2024.
Tierney L. CrossGetty Images News | Getty Images
The U.S. Department of Education has extended the deadline for its “Fresh Start” program for delinquent student loan borrowers to Wednesday morning, according to an agency spokesperson.
Borrowers who apply for limited opportunities will return to good loan standing and be able to avoid Arrears and Defaults.
The initial deadline for the Fresh Start program is September 30But a spokesperson told CNBC that an issue on their website led the department to decide to give borrowers until 3 a.m. Wednesday to apply.
The 12-month “transition period” will still expire on September 30. and negative credit reports.
Borrowers interested in applying for the “Fresh Start” program can learn more at the following website: Student Aid Network.
About 7.5 million federal student loan borrowers are in default, Education Department says explain In 2022, it launched a scheduling plan.
The grim figure sparks comparisons 2008 mortgage crisis.
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