For example, a government - backed
loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments
against a
debtor, only one at a time can garnish 10 % of wages, but a government
student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government
student loan.
Let's take a closer look into Cornerstone
student loans and see how they stack up
against other servicers and look closely into everything that Cornerstone has to offer for a
student loan debtor in repayment.