The US government is now collecting student loan payments again. Many Americans are seeing their credit scores fall because they missed payments. If you don't pay for 90 days, the loan companies tell credit bureaus. This really hurts your credit score, like going bankrupt. It can make it harder or more expensive to get loans for cars, houses, or credit cards. The Federal Reserve Bank of New York said that in early 2025, over 3 million people with student loans had their scores drop a lot. The US Department of Education stopped federal student loan payments in March 2020 because of the pandemic. They started collecting again in 2023, giving people one year to get ready. But the Trump government started collecting unpaid student loans again at the end of 2024.