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Wednesday, March 23, 2016
$176M In Wages Garnished For Unpaid Federal Student Loans In Just Three Months
Millions of would-be students turn to the federal government in order finance their education, each taking out thousands of dollars in loans. While that influx of funds allows borrowers to seek a better life by obtaining a degree, it also has to be repaid. And when that becomes impossible for some consumers, debt collectors hired by the Department of Education sometimes resort to garnishing wages.
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5 comments:
This figure is nearly nothing when compared to the interest collected on current student loans. We all know they're a ripoff, so why do we continue banks and other lenders to continue their usury?
the Road to Serfdom
If you owe it, pay it.
If you don't want to pay it back don't borrow it.
What! Noway! Obama said college would be free under tax credits.
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