CHARLOTTE — Student loan collections begin for the first time in five years after federal COVID-19 relief measures put interest and payments on pause.
Starting this month, if you’re in default on your student loans, money could be taken directly from your Social Security check.
[ NATIONAL COVERAGE: Education Department will collect on defaulted student loans starting in May ]
If you haven’t made a payment in nine months or more, up to 15% of your monthly social security check could be withheld.
If you don’t receive Social Security, money could be taken directly from your paycheck as early as this summer, but before that happens, you and your employer will be notified.
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