Social Security benefits can garnished for Student loans if in default.

StudentAid.gov

But borrowers can get out of default by setting up a rehabilitation program or consolidating their loans.

Borrowers of Direct Loans and FFEL Program Loans who are eligible for rehabilitation must meet the following requirements, StudentAid.gov said.

Borrowers who are not yet in default but are struggling with making monthly payments can explore options like income-driven repayment (IDR) plans.

With an IDR plan, monthly payments can be reduced to as little as $0, according to StudentAid.gov.

Private loans aren’t eligible for any kind of federal repayment plan or relief. If you hold private student loans, you could consider consolidating them into a lower interest rate. Visit Credible to compare options from multiple lenders and find one that’s right for you.

SECURE 2.0 ACT: STUDENT LOAN PAYMENTS WILL COUNT TOWARD 401(K) MATCHING CONTRIBUTIONS

The Biden administration’s plan to forgive billions of dollars in student loans will be analyzed by the Supreme Court beginning in February.

Still, the Justice Department has maintained that the relief program is authorized under The Higher Education Relief Opportunities for Students (HEROES) Act of 2003. Biden has argued that the HEROES Act allows the Education Department to waive restrictions to student loan forgiveness under national emergencies such as the COVID-19 pandemic.

But plaintiffs have argued that the Biden administration's initiative does not meet the HEROES Act's requirement for "a real connection to a national emergency," according to court documents .

In February, the Supreme Court will hear oral arguments involving two cases challenging the student debt relief plan.

In one case, the states of Nebraska, Missouri, Arkansas, Iowa, Kansas and South Carolina have argued the plan is unlawful and would harm their tax revenues. In a separate case, two individuals have claimed Biden’s plan is unlawful because it makes them partially or completely ineligible for the full scale of its proposed benefits.

Should Biden’s student loan relief plan be signed into law, however, it won’t apply to private student loans. If you have private student loans, you can consider refinancing them into a lower interest rate. Visit credible to speak with a student loan refinancing expert to see if this option is right for you.

BIDEN ADMINISTRATION UNVEILS DEFENSE OF STUDENT LOAN FORGIVENESS PLAN AT SUPREME COURT