Millennial Money: Student 貸付金 default can gut your paycheck
There's a dirty little secret of the student 負債 危機. One that 影響する／感情s millions of borrowers, but isn't talked about at dinner （米）棚上げする／（英）提議するs, on social マスコミ or in think pieces about student 貸付金s.
The タブー topic is 行う garnishment and it 作品 like this: Default on your 連邦の student 貸付金s and the 政府 can （問題を）取り上げる to 15 パーセント of each paycheck to 満足させる your 負債. That 量s to $300 per month for someone who 普通は takes home $2,000 per month. The Education Department can also 保留する 連邦の 利益s like 税金 returns and Social 安全 支払い（額）s.
Garnishment is an 効果的な 道具 to recoup 未払いの 貸付金s - 私的な collection 機関s enlisted by the Education Department took in over $841.6 million 経由で 行う garnishment in the 2018 会計年度 - but it （打撃，刑罰などを）与えるs serious 財政上の 緊張する on borrowers who are already struggling.
"It's a very powerful collection 手段 that can really 荒廃させる the 財政上の lives of the people 支配するd to it," says Joanna Darcus, a staff 弁護士／代理人／検事 at the 国家の 消費者 法律 中心 who 作品 with low-income student 貸付金 borrowers. "They can't afford to 支払う／賃金 their rent, buy their 薬／医学, buy 着せる／賦与するs for their kids and also 支払う／賃金 a large 百分率 of their 給料 toward their student 貸付金."
If you received notice of garnishment or are already in the 厚い of it, don't panic; you have 選択s that are far いっそう少なく painful than a 15 パーセント 攻撃する，衝突する to your paycheck.
STOP GARNISHMENT BEFORE IT STARTS
FILE- In this June 15, 2018, とじ込み／提出する photo, twenty dollar 法案s are counted in North Andover, 集まり. Default on your 連邦の student 貸付金s and the 政府 can （問題を）取り上げる to 15 パーセント of each paycheck to 満足させる your 負債. The Education Department can also 保留する 連邦の 利益s like 税金 returns and Social 安全 支払い（額）s. Garnishment is an 効果的な 道具 to recoup 未払いの 貸付金s, 私的な collection 機関s enlisted by the Education Department took in over $841.6 million 経由で 行う garnishment in the 2018 会計年度, but it （打撃，刑罰などを）与えるs serious 財政上の 緊張する on borrowers who are already struggling. (AP Photo/Elise Amendola, とじ込み／提出する)
The ideal time to tak e 活動／戦闘 is when you begin struggling to make 支払い（額）s. At that point, your 貸付金 servicer can help you 調査する other 返済 選択s , 含むing income-based 計画（する）s that cap your 月毎の 支払い（額）.
Once your 貸付金s are in default - nearly nine months past 予定 for most 連邦の 貸付金s - those 選択s are off the （米）棚上げする／（英）提議する until your 貸付金 is in good standing. You can rehabilitate your 貸付金s to move out of default (more on that below). You also have a 簡潔な／要約する window to 強固にする／合併する／制圧する your 連邦の 貸付金s (連合させるing them into a 選び出す／独身 貸付金 with its own 利益／興味 率) before the Education Department, 経由で a 私的な collection 機関, moves to garnish your 給料.
The collection 機関 扱うing your 連邦の 貸付金s will 通知する you by mail before it starts garnishing your 給料. The notice serves as your 30-day 警告. During this time, you can stop the 過程 by 交渉するing 支払い（額） 手はず／準備 with the 機関. The 重要な: It must receive your first 支払い（額） in that 30-day window.
If you can't make a 支払い（額） within that window, request a 審理，公聴会 to 控訴，上告 the garnishment. To 妨げる garnishment from starting, you must request the 審理，公聴会 in 令状ing within 30 days of the date on your collection notice. You can still とじ込み／提出する an 控訴，上告 after garnishment starts, but the collection 機関 will continue to （問題を）取り上げる to 15 パーセント of your take-home 支払う／賃金 while the 事例／患者 is reviewed, which can take two to three months .
A 審理，公聴会 sounds 脅迫してさせるing but it's no more than a long form 詳細（に述べる）ing your income, 負債 and expenses. The goal is to stop or 減ずる garnishment.
"You hear the word '審理，公聴会' and think, 'Oh my god, I need an 弁護士／代理人／検事!' But it's just a basic 交流 of （警察などへの）密告，告訴（状）," says Betsy Mayotte, 創立者 of The 学校／設ける of Student 貸付金 助言者s.
接触する the collection 機関 扱うing your 貸付金 to talk about 支払い（額） 手はず／準備 or get 詳細（に述べる）s on a 審理，公聴会 request. Not sure whom to call? Check the 国家の Student 貸付金 Data System to find out who is managing your 貸付金 and how to reach them.
REHABIL ITATE YOUR LOAN
貸付金 rehabilitation is a one-time "Get out of default" card. Here's how it 作品:
The collection 機関 始める，決めるs a 月毎の 支払い（額） based on your income, minus any reasonable 月毎の expenses. The 量 could be as low as $5 a month.
You'll need to 供給する documentation, like copies of 支払う／賃金 stubs and 法案s, and 完全にする a 詳細（に述べる）d form to help 決定する the 量. Any 給料 garnished 予定 to defaulted student 貸付金s will be considered の中で your expenses.
Make nine 支払い（額）s of the agreed-upon 量 within 10 months and your 貸付金s move out of default. Any 行う garnishment will stop. And you're once again able to choose a 返済 計画（する） that 作品 for you, 含むing several income-based 選択s that could 減少（する） your 月毎の 支払い（額） to $0.
Once out of default, take care to stay out. Make your 支払い（額）s each month. Recertify your income every year if you're on an income-based 計画（する）. And call your 貸付金 servicer if you run into trouble. If you default a second time, you'll have より小数の 選択s.
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This column was 供給するd to The Associated 圧力（をかける） by the personal 財政／金融 website NerdWallet. Kelsey Sheehy is a writer at NerdWallet. Email: ksheehy@nerdwallet.com. Twitter: @kelseylsheehy.
RELATED LINKS:
NerdWallet: How to 避ける and 回復する from student 貸付金 default https://nerd.me/student-貸付金-default
連邦の Student 援助（する）: Choose the 連邦の student 貸付金 返済 計画（する） that's best for you https://studentaid.ed.gov/sa/返す-貸付金s/understand/計画（する）s
