Seeking Student Loan Default Experts, student loan counselors, financial advisors familiar with this topic, legal counsel and nonprofits Publication: BestMoney.com Writer: Maya Dollarhide Deadline: 4/17 I'm writing an article for BestMoney.com about what happens when federal student loans go into default — and how borrowers can get out. The piece is aimed at everyday borrowers who are behind on payments or already in default and need expert help. I’d love to speak with student loan counselors or financial advisors who work directly with borrowers in or near default, or with anyone who has recent research/data or firsthand experience on the real-world impact of default. Below are some of my questions: What is the most common misconception borrowers have when they first realize they're in default? How should a borrower decide between loan rehabilitation and consolidation to exit default — and what are the key trade-offs? What are the legal limits on wage garnishment for federal student loans, and can garnishment be stopped once it starts? What happens to a borrower's credit score when they go into default — and how long does the damage last? What's the single biggest mistake borrowers make when trying to recover from default? When does using a personal loan to pay off a defaulted student loan make sense — and when does it backfire? What protections do borrowers have once a debt collection agency gets involved? What do you wish more borrowers knew before they hit default? Please include your name, title, and organization along with your answer(s). Happy to follow up with a full interview if you are available for a phone chat or email exchange. Thank you in advance for your consideration of my request. Maya Dollarhide