00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump administration launched a new Default Loan Support Center on Wednesday, as more
00:06federal student loan borrowers fall behind on payments, according to CNBC.
00:11The Treasury Department said the online portal will provide defaulted borrowers with information
00:15and options to get current on their loans.
00:18Roughly 9.3 million federal student loan borrowers were in default as of June 30, up from around
00:246.2 million at the same time in 2016.
00:27Student loan defaults have risen following the end of the COVID-era payment pause and
00:32the termination of the Biden administration's save plan.
00:34The administration announced in March that the Treasury Department would handle collections
00:38on defaulted student loans.
00:40For all things money, visit Benzinga.com.
