U.S. Stepping Up Enforcement on Delinquent Student Loans
- Treasury collections totaled $2.9 billion in fiscal 2018
- Even more recovered in first six months of current fiscal year
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Your rich Uncle Sam is calling in his chips.
The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year -- or an average of $1,000 from 2.9 million former students and their cosigners, according to the Treasury Department. And the trend continues. In the first six months of fiscal 2019, which started Oct. 1, collections totaled $3.3 billion.