PORTLAND, Ore. — The moratorium on student loan payments lifted at the beginning of October, meaning monthly payments will resume for borrowers.
However, about 305,000 of those borrowers have been told to pay the wrong amount.
The Department of Education said it is working with loan servicers to fix the problem, which includes some people seeing numbers higher than what they owe each month.
The issue only affects about one percent of borrowers, who will be in forbearance until the issue is resolved.
You can check your loan on the Federal Student Aid website.
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October 26, 2023 at 05:36AM
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300,000+ student loan borrowers received monthly bills with wrong payment total - KATU
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