Millions of student borrowers could begin having their wages garnished as soon as this summer, according to estimates from credit bureau TransUnion. The company predicts that by August roughly 3 million borrowers could move into default,

Millions of student borrowers could begin having their wages garnished as soon as this summer. NEW YORK — Millions of student borrowers could begin having their wages garnished as soon as this summer,

Interest starts accruing on Friday for student loan borrowers who enrolled in a Biden administration repayment plan. Why it matters: 7.7 million borrowers enrolled in former President Biden's Saving on a Valuable Education (SAVE) Plan will start to see their student debt balances increase.