At the outset of the covid-19 pandemic, federal student-loan borrowers won what appeared to be a reprieve. That five-year pause on payments and interest accumulation is now shaping up to be a curse in disguise. Last week, the Trump administration drew criticism for announcing that the Education Department would resume involuntary collections next month. But the squeeze delinquent borrowers will soon feel is an inevitable consequence of the suspension, exacerbated by the Biden administration’s prolonged refusal to let payments resume.

That’s because nonpayment ballooned after the pause functionally ended last October, meaning more than half of borrowers are not paying their loans on time. Data provided to me by Nelnet, the largest student-loan servicer, offers a grim look at repayment patterns.

Read the full op-ed here.