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Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart
Millions To Have Paychecks Garnished As Federal Student Loan Collections Restart Millions of Americans may soon have their wages garnished as the Trump administration resumes student loan collections paused since the start of the COVID-19 pandemic. About 5.3 million borrowers are set to receive wage garnishment notices in the summer of 2025, according to the Department of Education. The federal government officially restarted student loan debt collections on Monday, May 5. Nearly 195,000 borrowers began receiving 30-day warning letters from the Treasury Department. Their Social Security or other federal benefits will be seized through the Treasury Offset …

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by Chris Spiker
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Record Student Loan Borrowers Face Default As Collections Resume, Grads Enter Weak Job Market Record Student Loan Borrowers Face Default As Collections Resume, Grads Enter Weak Job Market
Record Student Loan Borrowers Face Default As Collections Resume, Grads Enter Weak Job Market A record number of federal student loan borrowers are seriously delinquent as debt collections resume after a five-year pause, while new college graduates face tough employment prospects. The Education Department restarted collecting defaulted federal student loan debt on Monday, May 5. Collections were paused at the beginning of the COVID-19 pandemic. The move threatens to seize tax refunds and garnish paychecks from millions of Americans in default on their loans. The Education Department said about 42.7 million people owe more than $1.6 trillion in student loan d…

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by Chris Spiker