Reported 28 days ago
Millions of student loan borrowers in the U.S. may face wage garnishment as defaults rise following the end of payment pauses. By August, an estimated 3 million could default, with 15% of wages at risk of being withheld for debts. Borrowers should check their loan statuses and take steps to avoid default, such as entering rehabilitation plans or consolidating loans. Those aware of potential garnishment should act quickly, as they can appeal within 30 days of receiving a garnishment order, highlighting any financial hardship caused by such actions.
Source: YAHOO