Understanding the Major Overhaul of Federal Student Loan Repayment Plans Under the One Big Beautiful Bill Act

veterandisabilityadviser.com

Introduction to the One Big Beautiful Bill Act The One Big Beautiful Bill Act (OBBBA) represents a significant legislative initiative aiming to overhaul federal student loan repayment plans, scheduled to take effect on July 1, 2026. This reform arises from the recognition of ongoing issues that plague the current system of student loan management, which … Read more

Understanding Wage Garnishment for Federal Student Loan Borrowers in Default

veterandisabilityadviser.com

Overview of Federal Student Loan Defaults Defaulting on a federal student loan occurs when the borrower fails to make a payment for an extended period. Specifically, a federal student loan is classified as being in default after 270 days of non-payment. This extended period without payment indicates a significant financial struggle or lack of awareness … Read more

Navigating the New Landscape of Federal Student Loan Debt Collection in 2026

veterandisabilityadviser.com

Introduction The landscape of federal student loan debt collection is undergoing significant transformation in 2026. With the recent policy shifts instigated by the Trump administration, we are witnessing a reversion to more aggressive measures aimed at recovering outstanding education loans. Unprecedented tactics such as wage garnishment are now the focal points of these new methodologies. … Read more