U.S. student loan debt is at $1.66 trillion, according to the NY Fed Reserve.
Already diminished by cuts by the Trump administration, the U.S. Education Department will see more of its work come to a halt due to the government shutdown.
Nearly 8 million borrowers will see their loan balances start increasing again on August 1.
Amid a federal overhaul of student loan plans, many borrowers have been left wondering what it means for their hopes of loan forgiveness.
Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection.
The Department of Education restarts collections of loans in default on Monday, putting millions of borrowers at risk of having their benefits and wages garnished.