CHARLESTON 9/3/2015 3:13:37 PM
News / Law


Student loan defaults are common with today’s poor economy and tough job market. Graduates searching for employment today are encountering unprecedented difficulties in obtaining stable, gainful employment. Many college graduates who took out student loans to pay for tuition are struggling to repay that debt.

What most borrowers are unaware of is that they may be eligible for income-driven repayment plans that can drastically reduce their monthly student loan payments for federal student loans based on the individual borrower’s income and household size. Because most borrowers are unaware that they qualify for lower, more manageable monthly payments, it is not uncommon for them to fall behind on payments. Once a borrower falls so behind on payments that their accounts are considered in default, they are no longer eligible to apply for income-driven repayment plans until the default is cured.

While in default, student loan borrowers are subject to wage, tax and even Social Security garnishment. Garnishment allows the government to seize a portion of the borrower’s paychecks or Social Security checks to recoup on outstanding student loan debt. The government can even withhold a default borrower’s tax returns. Once a borrower is in default, the default can be cured with the help of legal representation but it is a time-consuming and expensive process. Student Loan Law Group provides clients with legal representation once they are in default but Student Loan Law Group encourages borrowers who are struggling to make their monthly payments to take action before they are in default.

For more information on curing defaults and ending or preventing garnishment, contact Student Loan Law Group today. Borrowers who want to determine whether they are eligible for income-driven repayment plans should also contact Student Loan Law Group to determine what options may be available to them. Student Loan Law Group can be reached at 888-843-1706 or