Approximately 7.5 million student loan borrowers are in default, according to the Department of Education. If you're one of them, I don't have to tell you about the toll this takes -- no access to further student aid and relief programs, a negative mark on your credit report, and the stress of knowing you've got less help. But a new government initiative could give you some hope.

The Department of Education has launched its Fresh Start program, which is available to many student loan borrowers in default. But it's a limited-time offer: You must apply by September 2024 to take full advantage of its benefits. Here's what you need to know.

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Source Fool.com