The free ride is officially coming to an end. After five years of pandemic-era “forbearance” that conveniently stretched well beyond any actual pandemic emergency, the Department of Education is finally forcing borrowers to face the music. Starting May 5, 2025, the federal government will resume collections on defaulted student loans, potentially impacting millions of Americans who thought they might never have to pay back money they borrowed. It’s amazing how many people suddenly forgot they signed on the dotted line when loan payments were paused in March 2020.
