Anonymous ID: 072710 May 7, 2025, 8:45 a.m. No.23003716   🗄️.is 🔗kun   >>3720 >>3730 >>3735

Note the source…

 

Millions of Americans face garnishment and the seizure of benefits as the US Department of Education begins pursuing student loan debtors

 

As of May 5, the US federal government officially began collection measures against former students in default on their student loans. Approximately 195,000 borrowers were sent a 30-day notice letter from the Treasury Department, notifying them that federal benefits are subject to seizure.

 

Approximately 43 million Americans owe nearly $1.7 trillion in student loans, with 5.3 million currently in default. Later this summer, all individuals in default will receive garnishment letters with a 30-day notice before up to 15 percent of their wages and benefits may be seized. This includes Social Security payments for some 450,000 borrowers ages 62 and older with defaulted loans.

 

In addition to the 5.3 million Americans already in default on their student loans, nearly 5 million more borrowers are experiencing various stages of payment delinquency.

 

Secretary of Education billionaire Linda McMahon announced the government’s draconian measures with all the hypocrisy of the Biblical “serpent’s tongue,” saying the Trump administration is beginning, “to help defaulted borrowers back into repayment…”

 

https://www.wsws.org/en/articles/2025/05/07/yddc-m07.html

Anonymous ID: 072710 May 7, 2025, 8:50 a.m. No.23003730   🗄️.is 🔗kun   >>3734 >>3758

>>23003716

 

Trump administration to garnish wages of 5.3 million defaulted student loan borrowers this summer

 

The government has extraordinary collection powers on federal debts, and it can seize borrowers’ federal tax refunds, wages and Social Security retirement and disability benefits.

 

The Trump Administration resumed collection efforts on defaulted student loans Monday after a roughly five-year hiatus — and affected borrowers could begin feeling the financial consequences sooner than experts expected.

 

The U.S. Department of Education released new details on what actions it plans to take, when.

 

Here’s what to know.

 

Federal benefits could be garnished by June

The Education Department said it began this week alerting around 195,000 student loan borrowers in default that their federal benefits will be subject to garnishment in 30 days.

 

Borrowers could have their benefits, including Social Security retirement checks, seized by the government as soon as June, the Education Department said.

 

more:

 

https://www.nbcnews.com/business/consumer/trump-administration-garnish-wages-53-million-defaulted-student-loan-b-rcna205171