Student Loan Wage Garnishment Efforts Restart in 4 Days. What to Do if You're Worried

Viva Tung/CNET If your student loans are in default, the Department of Education could start garnishing your wages as soon as this summer. It may sound scary, but wage garnishment to pay off a debt isn't new. Currently, some Americans have their wages garnished to pay back taxes, child support and other debt, including student loans. It just might feel "new" since there were protections in place to allow borrowers in default time to catch up since the Covid-19 pandemic. But starting in May, payments will begin to come due. "This is actually the norm," explained student loan expert and corporate communications director for Edvisors, Elaine Rubin. "If a loan is in default, then actions will be taken to then collect on the default loan." Student loans are considered in default after you've missed 270 days of payments (excluding payment pauses). It's estimated that 5 million borrowers are in default and will have their loans sent to collections next week. If you're one of them, here's ... Read full article.