Student Loan Borrowers Get Notices That Wages And Benefits Are About To Be Seized
Snippet of Article: "...Nearly 200,000 federal student loan borrowers were notified this week that their wages and benefits are about to be seized by the government. The warnings represent the first wave of involuntary collections actions that the Department of Education has initiated against borrowers in default on their federal student loans. “Starting today, approximately 195,000 defaulted student loan borrowers will begin receiving an official 30-day notice from the U.S. Department of Treasury notifying them that their federal benefits will be subjected to the Treasury Offset Program,” said the Department of Education in a statement on Monday. ..."
Source: www.forbes.com