Collections resume Monday for federal student loans

It's again time to pay up on those defaulted student loans. Yeah, today after a five-year pause, the US Department of Education began collecting payments all across the country. KSL's Sarah Martin breaking it down and what that means for Utah's students and borrowers alike. Sarah? You may not have made a student loan payment since the beginning of the pandemic. Political turnover, a federal pause held those loans at bay for millions of Americans. But starting today, you could see your Social Security check or your tax refund garnished. If you don't make an effort to pay. The Department of Education says more than 42 million people owe student debt. About 5 million of those people are in default, meaning they haven't made a payment in more than a year. Here in Utah, about 9% of our population has student debt. That's significantly lower than most states. Most Utah borrowers owe less than $40,000. We're pretty much debt-averse as a state and as a people. And that's reflected in how we take on student loan debt as well. Jeffrey Landward is the Utah Commissioner for Higher Education. He says Utah schools have worked closely with the legislature to provide high-quality education at low cost, thanks in large part to the taxpayer. Utah is among the very lowest when it comes to tuition and fees. In fact, we're about number five in the nation. Some students do need loans to get by, but he says debt should be a calculated decision. These are the kind of jobs that you'll be looking for. They're either in high demand or they're not. They pay high wages or they don't. You should have that information before you make a decision about taking on debt. Student loans have been central to political campaigns and shifting administrations over the past few years, which may be confusing to prospective students and past borrowers alike. But Landward says it's important to keep the value of your specific educational goal in mind. It hasn't diminished the return on investment that a higher education gives a person who takes the time to go and get a degree or certificate. If you have student loan debt, the Department of Education says you can expect ample warning via phone, via email, before your tax return or your Social Security takes a hit. You can find more information how to make a payment plan at studentaid.gov. Reporting live, I'm Sarah Martin, KSL 5 News. Yes, affecting quite a few people. All right, Sarah, thank you.