3 Ways to Get Your Student Loans in Good Standing Before Paycheck Garnishment Starts

You have until May 5 to get your student loans out of default before they are sent to collections. Getty Images/CNET If your student loans are in default, you may be worried about the recent announcement on wage garnishment. After five years of payment pauses and delays, the US Department of Education announced last week that student loan payments and collections will resume on May 5, with wage garnishment starting this summer. "The Biden administration misled borrowers: The executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear," Education Secretary Linda McMahon said in the statement. Loan servicers can report loans as delinquent after they are 90 days past due, damaging your credit score. Loans that are 270 days past due go into default, which comes with even more severe consequences, such as wage garnishment. The Education Department said more than 5 million borrowers have not made a monthly payment in over 360 d ... Read full article.