Wage Garnishment

If you don't pay your student loan, it will go into default. Wage garnishment is one of the more serious consequences of student loan default. Garnishment means that money would be automatically deducted from your earnings to pay your debt. Wage garnishments for federal loans can be as much as 15% of your income. For private loans, it can be up to 25%.

Wage garnishment continues either until you finish paying your debt or you make an arrangement to pay your debt.

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