A new era for student loans begins with garnished wages on the table

(The Hill) — Starting Monday, student loan borrowers who find themselves in default will face government-backed involuntary collections, signaling a brand new landscape after years of pauses, delays and Biden-era relief efforts.   

Garnished tax returns, Social Security payments and even wages will all be fair game on May 5 after a five-year pause on severe financial consequences that began during the economic upheaval of the COVID-19 pandemic.  

The Trump administration has made clear no additional debt forgiveness will be offered to borrowers as congressional Republicans look to revamp the student loan repayment system. 

Some Social Security recipients

Read the full article @ WgnTv.com click here

This post was originally published on this site