At midnight on Friday, January 19, 2018, the federal government officially shut down after congressional Democrats and Republicans, and President Trump, could not agree on a compromise to continue funding the government. When the government shuts down, it means that nonessential employees are sent home without pay, and federal agencies cease most nonessential operations, until the impasse is resolved.
With $1.4 trillion in outstanding student loan debt – much of it held by the federal government – many student loan borrowers are feeling nervous about how this shutdown may impact their student loans. The good news is that I expect any direct impacts to be fairly minimal for most student loan borrowers. However, certain people will definitely experience some disruption. Here’s my take on what to expect. Read More