Trump administration to resume wage garnishment for defaulted student loans
TL;DR
The Trump administration will begin garnishing the wages of defaulted student loan borrowers starting in January, affecting around 1,000 people initially, with the number expected to rise. The government can seize up to 15% of a borrower's after-tax income, leaving them with at least $217.50 weekly, as part of its efforts to recover federal debts amid a rising default rate among over 42 million student loan holders with more than $1.6 trillion in debt.
Topics:top-newseducation#default#education#education-policy#federal-debt#student-loans#wage-garnishment
- Trump administration to start seizing pay of defaulted student loan borrowers in January CNBC
- Trump administration to resume wage garnishment for student loan defaulters Al Jazeera
- Trump administration will start to garnish wages for defaulted student loans Axios
- Student loan borrowers in default may soon see their wages garnished NPR
- Wage garnishment for defaulted student loans to resume early next year The Washington Post
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