Behind on Student Loan Payments? Here's How to Stop Them From Going to Collections Before Monday

The Department of Education will begin sending defaulted student loans to collections on May 5. Google/ Zooey Liao/ CNET Time is running out if you're behind on your student loans, and your wages could be garnished this summer if you don't take action by Monday. After five years of payment pauses and delays, the US Department of Education announced that student loan payments and collections on student loans in default will resume on May 5. "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 a statement released on April 21. Loan servicers can report loans as delinquent after they are 90 days past due, which can damage your credit score. Loans that are 270 days past due go into default. At that point, the entire loan balance becomes due immediately. Your loan servicer can also tack on collection fees and eventually garnish y ... Read full article.