Consolidating student loans and default

For some reason, I didn’t view wage garnishment as a big deal.

I was thrilled that I wouldn’t have to remember to pay my loans every month; the government was basically doing all of the work for me.

My income came entirely from the tips I made waiting tables.

The voluntary fees would probably be too high for me to afford. For the first time in years I knew the exact amount of my student loan debt. I still owed more or less what I owed before I had gone into default: ,000.I would dream up all sorts of get-rich-quick schemes.I’d win the lottery or write the next blockbuster YA novel.I had read online that there were options for people in default. Department of Education’s Debt Collection Service Information Center, whose number was listed on my wage garnishment order.The first option was to rehabilitate my loans, which requires borrowers in default to make voluntary, on-time payments based on income vs. Once a borrower has successfully done so, the loans come out of default, wage garnishment is stopped, and borrowers are eligible for the same benefits available for the loan before default. The woman on the line was perfectly pleasant, but told me that I would have to speak directly with the three collection agencies that currently held my loans to discuss my options.

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