The initiative comes as fresh data reveals 9.3 million borrowers are currently in default. Treasury Secretary Scott Bessent stated that the center is a step toward restoring fiscal responsibility and creating a more accountable system to better serve both taxpayers and borrowers.
Tuesday, October 20, 2026
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US Treasury Launches Support Center for 9.3 Million Defaulted Borrowers
US Politics20 days ago
Federal officials are deploying a new system to reclaim funds from an overdue loan portfolio valued at $1.7 trillion. The Treasury Department and the Department of Education established the Defaulted Loans Support Center to offer delinquent borrowers a more direct route back to repayment through the Treasury-ED Federal Student Assistance Partnership. This collaboration leverages the Treasury's financial and operational expertise to improve the management of delinquent accounts.
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