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Why will millions in US face wage garnishment after May 5?
Starting May 5th, the Education Department will resume collecting defaulted federal student loans, ending the pandemic-era freeze. Millions of borrowers risk wage garnishment and seized tax refunds, impacting 5.3 million currently in default and 4 million nearing it. Critics argue this move will harm struggling families amidst policy confusion and uncertainty surrounding repayment plans.
Starting May 5th, the Education Department will resume collecting defaulted federal student loans, ending the pandemic-era freeze. Millions of borrowers risk wage garnishment and seized tax refunds, impacting 5.3 million currently in default and 4 million nearing it. Critics argue this move will harm struggling families amidst policy confusion and uncertainty surrounding repayment plans.
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