WATCH: Almost $100 million in student loans repaid since collection notices went out, McMahon says
May 21, 2025
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2:53Now PlayingWATCH: Almost $100 million in student loans repaid since collection notices went out, McMahon says
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as posted by the channelEducation Secretary Linda McMahon was pressed in a House Appropriations hearing Wednesday for more information about how the Trump administration was facilitating student loan collections, including for borrowers struggling to stay on track.
Blaming the previous administration for “disastrous messaging about loan forgiveness,” Rep. Robert Aderholt, R-Ala., expressed concern as he questioned McMahon that “individuals across the country are at risk of damaging their own credit ratings and going into default. This kind of financial damage can be devastating to countless constituents across the country,” he said.
Earlier this month, the Trump administration began sending loans in default to collections, which could result in the withholding of tax refunds or other federal payments for those impacted. If loans remain in default by later this summer, the Education Department could begin the process of garnishing paychecks.
More than 5 million borrowers across the country are in default.
McMahon said she sent letters to borrowers on May 5. Since then, working with the Treasury Department on collections, “we have now collected almost $100 million in back loans. Some on a voluntary basis and then some is restructuring the way those folks are going to be repaying their loans.”
“We’re on the right track,” she added.
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