The focus of Student-Edu.com has changed over the past year to reflect the current economy and its effects on Debt in general.
Specifically we deal with Student Debt, however it would be a bit short sited to limit our information only to Student Debt.
The sole purpose of this site has become to help people manage and deal with their Debts, Student Debt, Loans, Mortgages, etc, Before the Real problems arise. By this, we meanbefore Bankruptcies, Foreclosure, and legal action for wage garnishment and so on.
Those are the true unpleasantries that are the worst results of debt, so let’s see how we can help you avoid these problems. Of course, the question is being asked an awful lot these days of what is the best way to get rid of my Student Loan Debt. In fact, most wonder ifit’s even possible anymore with the current state of the economy and new Government laws.
I must admit, as a professional in the Student Debt Relief and Management Business for over 7 years, it’s gotten extremely tough. In fact, the main strategy today is less about trying to get out of the loan with Grants, Forgiveness, etc and more about finding a way to deal with the creditors.
Again, on our site, we’ll focus on providing you with Debt Relief Help and Information, so youcan get ahead of your Debts.
**IMPORTANT**
This site consists of many articles, a Student Directory of Resources and suggested Solutions. You’ll find the links for these on the bottom of this page, and from there you can navigate to where you feel is best for you.
However, if your main purpose is to cut to the chase and find out information on your options to actually getting some relief, then start here:
How To Get Rid Of Your Debt and you can then read the information you need to act on a few of the solutions we provide.
Lastly, please feel free to otherwise browse this site for any other purpose you may have, we hope it serves you well.
Student-Edu.Com Staff
OUR LATEST NEWS ITEM
Defaulted on Your Student Loans
Know what to expect if you fall behind on student loan payments.
The government has powerful tools to use against borrowers who don’t make student loan payments. Here’s what you can expect if you are in default on a student loan.
Tax Refund Offsets
The IRS can intercept any income tax refund you may be entitled to until your student loans are paid in full. This is one of the most popular methods of collecting on defaulted loans, and the Department of Education annually collects hundreds of millions of dollars this way.
You can challenge a tax refund offset. To learn more about acceptable reasons to challenge offsets and how to do so, see the National Consumer Law Center’s Student Loan Borrower Assistance website at www.studentdebtsrelief.com.
Your Paycheck Garnished
The government can take (“garnish”) a limited portion of the wages of a student loan debtor who is in default. It can take up to 15% of your disposable income. However, it cannot take more than the equivalent of 30 times the current federal minimum wage.
As with the tax refund offset, you can object to a wage garnishment. To learn more about the reasons for objection and how to object, see the National Consumer Law Center’s Student Loan Borrower Assistance website at www.studentloanborrowerassistance.org.
Another way to avoid wage garnishment is to contact the holder of your loan and negotiate a repayment schedule. For more information, see Nolo’s article on Student Loan Repayment Options.
Your Federal Benefits Taken
The government can take some federal benefit payments (including Social Security retirement benefits and Social Security disability benefits, but not Supplemental Security Income) as reimbursement for student loans.
The government cannot take any amount that would leave you with benefits less than $9,000 per year or $750 per month. And, it cannot take more than 15% of your total benefit.
For example, if Doug receives monthly federal benefits in the amount of $900, the government may take either $150 (the amount of Doug’s $900 benefit that is over $750) or $135 (15% of Doug’s total benefit of $900), whichever is less. So, in this case, the government can take only $135 each month.
You Get Sued
The government and private lenders can sue you to collect defaulted student loans. Unlike other debts, there is no time limit on suing to collect student loans — you can be sued indefinitely.
For information on various defenses to student loan collection lawsuits, see the Student Loan Borrower Assistance website at www.studentloandefault.info.