Student-loan payments are resuming in October without broad debt relief.
A group of Democrats asked CEOs of student-loan companies how they are preparing for the restart.
They want updated information on how the companies are training customer service workers and reaching out to borrowers.
Since March 2020, student-loan payments have been on pause, with interest waived, to provide borrowers financial relief during the pandemic.
It announced a 12-month "on-ramp" period once payments resume during which borrowers will not be reported to credit agencies for missed payments, along with a new income-driven repayment plan to lower monthly payments.
Persons:
Elizabeth Warren, Richard Blumenthal, Chris Van Hollen, Ed Markey, Sherrod Brown, Bob Menendez —, Donald Trump, Joe Biden, Biden, servicers
Organizations:
Service, Democratic, Public, Federal Student Aid, Republicans, Biden's Education Department
Locations:
Wall, Silicon