Sawin & Shea

NOVEMBER 30, 2022

Once this happens, you may face serious ramifications, including wage garnishment and the offset of your federal tax refund and Social Security benefits. If the lender sells the loan to a collection agency after you default, you’ll also face additional fees and higher interest rates.

Student loans 112

Student loans Student Loans Loans Garnishment 112

Credit Corp

JULY 9, 2024

Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. Once you default on your loan, lenders can take steps to recover these funds. The longer it takes to pay off your student loans, the more you’ll end up paying in interest.

Student loans 52

Student loans Student Loans Loans Accrued Interest 52

Titan Consulting

JUNE 7, 2020

Interest Holiday : Interest will not accrue during the payment suspension period. Stopped Involuntary Collection Activity : The Department of Education suspended wage garnishments, Social Security garnishments, and tax refund offsets on federally held student loans. How to Get the CARES Act Benefits?

Student loans 64

Student loans Student Loans Loans Accrued Interest 64

Credit Corp

MARCH 9, 2021

If it does, you’ll receive a refund offset notice in the mail in advance of the proposed refund garnishment. If you pay your student loan balance before the IRS issues your tax refund, your refund won’t be garnished. To garnish—i.e., take—your tax refund, lenders have to go through the Treasury Offset Program (TOP).

Student loans 98

Student loans Student Loans Loans Garnishment 98