The Feds are cracking down on defaulted student loans! According to the new US Education Secretary, it’s time for student borrowers with federal loans to begin making payments. The clock is ticking and May 5th is the date that nearly 2 million borrowers are going to be moved into repayment plans and collections will begin for loans that are in default with over 5 million borrowers at risk of garnished wages. This is a massive shakeup from what borrowers have experienced over the past 5 years, and we’re thankful to be joined by founder and CEO of Student Loan Planner, Travis Hornsby to parse the details. Travis has a massive amount of experience having consulted on several billion dollars of student debt and today we discuss what borrowers should do to avoid wage garnishments, whether PSLF is under fire, some simple steps to take to ensure that borrowers are paying as little as legally possible, and more!
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