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Retirees on fixed incomes get a temporary reprieve from student loan collections, but working Americans with defaulted loans should prepare for wage garnishments starting this summer.
Relief arrived this week for older Americans worried about their Social Security checks, but the reprieve comes with a catch. The Trump administration has temporarily paused plans to garnish Social Security benefits from borrowers who’ve defaulted on federal student loans, according to CNBC. However, this relief is limited — wage garnishment remains very much on the table.
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