Since March 2020, federal student loan borrowers were not obligated to make monthly payments. During this period, officials said borrowers could continue making payments to reduce their debt whenever the moratorium lifts. Last week, President Joe Biden ...

Student loan borrowers who have defaulted on payments could have up to 15% of their pay docked by the federal government starting soon. This leaves many borrowers having to decide which bills to pay – and not pay – if they don’t want smaller paychecks.