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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110543
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I have been unemployed for several years and have no choice

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I have been unemployed for several years and have no choice but to default on my Sallie Mae student loan. What extent of punishment can I expect?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

There is no criminal punishment for this default. However, while SS and military retirement cannot be garnished for normal debts, I am afraid student loans are an exception to that and your SS and military retirement can be garnished for default of these loans and they can also seize your IRS refunds. Thus, it is best to try to negotiate some payments you can afford to avoid them getting a judgment against you and garnishing your pensions.

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