Does Student Loan Information Being Reported In The News Apply to Me?

There have been several changes to what’s happening in the world of student loans. They range from capping amounts that can be borrowed to wages being garnished. Well, how do you know if it impacts you?

The first thing is to determine whether you have federal or private student loans. In some cases, borrowers may have both. If you have federal student loans, then all of the information coming from Washington, D.C. applies to you.

There are a few ways to determine whether you have federal or private student loans. One way is to go to your loan service provider’s website. There, they should distinguish whether they are a private loan service provider or a federal loan service provider. In some cases, there have been loan service providers that have administered both federal and private student loans.

If borrowers can’t make the determination from the loan servicer website, then they should visit www.studentaid.gov. The most common federal loan servicers listed on StudentAid.gov include Nelnet, MOHELA, Aidvantage, and EdFinancial. This website will provide you with the information you need.

Borrowers need to know what happens if their federal loans go into default. Federal student loans are considered default after 270 days (about 9 months) of missed payments, which can cause wage garnishment, tax refunds being withheld, loss of future aid, and major credit damage.

The U.S. Department of Education has put a hold on its plans to garnish wages and confiscate tax refunds from borrowers who have defaulted on their federal student loans, postponing enforcement actions that were scheduled to restart across the country. This announcement, made on Friday, January 16th, 2026, temporarily suspends collection measures impacting millions of borrowers whose loans are delinquent.

So borrowers beware! Check your account on www.studentaid.gov to know where you stand. So if you are close to being behind, take the necessary steps to bring home a full paycheck and avoid tax refund surprises during tax season!