Some 5 million Americans with defaulted student loan payments will have their loans sent for collections on May 5, the Department of Education announced on Monday.

Next month, for the first time since student loan payments were paused due to the onset of the COVID-19 pandemic, the Education Department will collect the debts from borrowers who had defaulted -- which means they hadn’t paid their debts for around nine months or 270 days -- before the pandemic.

After the Department of Government Efficiency gained access to student loan databases, some social media posts promoted a federal privacy law as the key to debtholders’ financial freedom.

All you have to do, the posts said, is file a complaint with the Education Department requesting your loans be forgiven on the grounds that DOGE violated the Family Educational Rights and Privacy Act of 1974 by gaining access to personal loan information.

Student-loan forgiveness under President Joe Biden has officially reached the end of the road.

On Thursday, Biden's Education Department announced over $600 million in debt cancellation for 4,550 borrowers on income-based repayment plans and 4,100 borrowers who the department found were defrauded by DeVry University.

This latest announcement marks the final student-loan forgiveness action under the Biden administration.

President Biden announced Friday that he is canceling $4.28 billion in student loans for nearly 55,000 public service workers as he prepares to exit the White House.

The latest round of debt forgiveness brings the total amount of canceled loans by Mr. Biden to $180 billion for nearly 5 million Americans, according to the Department of Education. 

The Biden administration announced on Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.

The relief is a result of fixes the U.S. Department of Education made to the once-troubled Public Service Loan Forgiveness Program.

The debt relief comes in President Joe Biden’s final weeks in office.

Biden has forgiven more student debt than any other president. He has cleared nearly $180 billion for 4.9 million people with student debt.

To keep up with the high cost of living, many young adults turn to a likely safety net: their parents.

Nearly half (46%) of Gen Zers between the ages of 18 and 27 rely on financial assistance from their family, according to a new report from Bank of America.

Americans are increasingly skeptical about the value and cost of college, with most saying they feel the U.S. higher education system is headed in the “wrong direction,” according to a new poll.

Overall, only 36% of adults say they have a “great deal” or “quite a lot” of confidence in higher education, according to the report released Monday by Gallup and the Lumina Foundation. That confidence level has declined steadily from 57% in 2015.

WASHINGTON (AP) — As he campaigns for reelection, President Joe Biden frequently touts his work on student debt, pointing to the millions of people who received cancellation under his watch. Yet relatively few Americans say they’re fans of his work on the issue, even among those who have student loans.