Starting January 7, the Department of Education plans to withhold a portion of the wages of around 1,000 defaulted borrowers. The number will gradually increase within the following months.
By law, the Education Department must inform those in default at least 30 days before garnishing their wages. The department can take up to 15 percent of a student loan holder’s after-tax income to pay off their debts from college—yet another example of President Trump working against the issue of affordability he centered so much of his campaign around. Over 42 million people have student loans, and the number of people defaulting on them is expected to double very soon, highlighting the absurd price of college education in America, even as its value seems to be declining.
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