Big changes are on the horizon for student loan borrowers. President Trump is getting tough on outstanding accounts and that will mean renewed collection efforts.
For millions of Americans with student loans in default or deferment, the rollback of protections means making payments.
Guy Williams President of Gulf Coast Bank and Trust says don't wait to hear from the federal government, take action now to avoid the adverse actions.
"If you are ninety days behind, you could be sent to collections. If you are two hundred seventy days behind you could have your wages garnished."
Williams suggests calling your lender and setting up a payment plan to get back on track.
Now, for some borrowers this could open the door to wage garnishment. Williams says that if you should happen to find your wages garnished you can take steps to stop it.
"Contact your lender and find out how to bring your loan into good standing."
