Millennial Money: Student Loan Default Can Gut Your Paycheck

There's a dirty little secret of the student debt crisis. One that affects millions of borrowers, but isn't talked about at dinner tables, on social media or in think pieces about student loans. The taboo topic is wage garnishment and it works like this: Default on your federal student loans and the government can take up to 15 percent of each paycheck to satisfy your debt.Read more on NewsOK.com

Topics:  newsok   default   paycheck   student loan   loans   
BING NEWS:
  • Report: Racial Inequities Play a Role in Loan Default Disparities
    Combined, these challenges put students of color at a high risk of falling behind on their payments and ending up in default, which occurs after 270 days of nonpayment and can trigger severe ...
    12/10/2024 - 7:37 pm | View Link
  • Federal student loan borrowers in default may again face wage garnishments, collections
    Federal student loan borrowers who fall behind on their bills will face financial consequences once again. Here's what to know.
    12/1/2024 - 11:53 pm | View Link
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