Student Loan Garnishment

Stop Student Loan Garnishment

  • Student Loans in Garnishment?
  • Payroll Start Deducting 15% From Your Paycheck?
  • Want to KEEP Your Tax Refund?
  • Student Loan Payment Too High?
  • We CAN STOP Your Student Loan Garnishment!
  • We CAN Help You Keep Your Tax Refund
  • We CAN Get You Into an Affordable Repayment Plan?

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How To Stop Student Loan Garnishment

If you want to find out how to stop student loan garnishment then you must first understand what a student loan garnishment is. We can help stop your student loan garnishment. When you are in garnishment they are taking a portion of your pay check before you even receive it. You may also have a tax offset in place, which means they are taking any potential tax refund. This also means they may have taken away your Title IV rights. A Title IV rights restriction stops you from going back to school. It also disqualifies you from receiving financial aid. However, there are options and plenty of information available on how to stop student loan garnishment, restore Title IV rights, remove your tax offset and get out of default for good. We can even help with this process.

What is Student Loan Garnishment?

When you have defaulted on a student loan, your wages will eventually be garnished. This means that they can order your employer to deduct the following:

  • 15% – 25% (Depending on your state of residence) of your disposable earnings, or your disposable earnings less 30 times the current federal minimum wage ($7.25 as of January 2012).

Finally, it is then sent directly to the appropriate agency handling the student loan garnishment for repayment of your defaulted student loans.

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Can My Social Security Benefits, Retirement or Pension Be Garnished?

The short answer is Yes. There are limitations on how much can be garnished but they can in fact garnish your social security disability, retirement pay and even a pension. Student loans can garnish just about any form of income that you receive. However, the first $750 in social security benefits is off-limits. The 15% garnishment still applies, as long as it leaves you with at least $750 per month.

How Much Will I Be Garnished?

In order to calculate how much your student loans will garnish from each of your pay checks you must first determine your disposable pay.  Disposable pay is calculated by taking your gross wages and then subtracting all mandatory taxes. You then multiply that amount by 15% – 25%, depending on the state you reside in, and subtract that from your calculated disposable income. After deducting health insurance, 401k etc. you are left with the difference.

Student Loan Garnishment Calculation:

Gross Pay: $1,000

Mandatory Taxes: $250

Disposable Pay: $1,000 – $250 = $750

Amount of Student Loan Garnishment: $750 X 15% = $112.50

Amount You Would Receive: $750 – $112.50 = $637.50