How can I make reasonable payment arrangements on a student loan?

Asked over 2 years ago - Centreville, VA

My wages are being garnished for an old student loan ($500.00 a month). When I called to ask how to stop the garnishement and set up a payment plan I was advised to pay an additional $300.00 and the garnishment would continue for 8 months. They would'nt budge on this number.

Attorney answers (3)

  1. Jason Meyer Krumbein

    Contributor Level 13

    Answered . The Federal Rules on student loans allow for you to get out of default.
    Ask about a Reasonable and Affordable payment plan pursuant to 20 USC 1078-6 and 34 CFR 682.405.
    If they will not comply, you should seek the assistance of a lawyer who knows student loan law.

    Mr. Krumbein is admitted to the courts of Virginia. His advice is often based on Virginia and Federal law,... more
  2. Mitchell Paul Goldstein

    Contributor Level 20

    Answered . The U.S. Department of Education website is a great resource for dealing with student loans. You can get them out of default reasonably.

    Mr. Goldstein is a Virginia-licensed attorney only. The information is not, nor is it intended to be, legal advice.... more
  3. Dorothy G Bunce


    Contributor Level 20


    Lawyer agrees

    Answered . Once you become so delinquent on a student loan that they begin garnishing your wages, it can be difficult to get into their good graces & to qualify for any of the programs designed to reduce your payments.

    If you feel you have exhausted all ways of dealing with them, you may wish to consider whether filing a bankruptcy could provide a way of managing this debt to make the payments more affordable. You could have up to 5 years of protection from the garnishment & establish new credibility with the lender through Chapter 13.

    Hope this perspective helps!

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