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US to Pursue Defaulted Student Loans
Unusual Whales cites Forbes that the Trump administration plans to pursue defaulted federal student loans, with wage garnishment up to 15% without a court order.
Key points
- The Trump administration is reportedly preparing to pursue wages and benefits of borrowers with defaulted federal student loans, per Forbes.
- The Education Department is working with the Treasury Department to hire private debt collection agencies.
- Borrowers in default may face administrative wage garnishment of up to 15 percent of their earnings without a court order.
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Original post
BREAKING: The Trump administration is reportedly preparing to pursue wages and benefits of borrowers with defaulted federal student loans, per Forbes.
The Education Department is working with the Treasury Department to hire private debt collection agencies.
Borrowers in default may face administrative wage garnishment of up to 15 percent of their earnings without a court order.
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