Student loan borrowers won't see wage garnishments – for now [USA TODAY]
TransUnion (TRU)
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Source: USA TODAY
Student loan borrowers in default are saved from wage garnishments -- for now. The Department of Education said it's pausing plans to garnish wages and other income like tax refunds of student loan borrowers who are in default. The department had planned to begin wage garnishments the week of Jan. 7. The temporary halt will allow the department to "implement major student loan repayment reforms" such as simplifying repayment options and providing an additional opportunity for borrowers to rehabilitate their federal student loans, the department said in a release. No time frame was given as to how long the pause will last, but it gives financially strained borrowers time to resolve their defaulted loans with their federal loan servicer, the department said. "The Department determined that involuntary collection efforts such as Administrative Wage Garnishment and the Treasury Offset Program will function more efficiently and fairly after the Trump Administration implements sign
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