financial-lit.com

Free financial tools for real life

Plain language calculators and guides for student loan default, garnishment, rehabilitation, and recovery. No account. No spam. No selling your data.

We never sell your information
Educational estimates only
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2026 Update: The Department of Education is moving to resume collections on defaulted federal student loans, though the timing has shifted and no firm restart date is currently confirmed, and the SAVE plan has ended — new repayment plans take effect July 1, 2026. Start with the Wage Garnishment Calculator or the SAVE plan guide to understand your options.

Student Loan Default Recovery

Guides and tools for every stage of default — from first missed payment to full recovery.

Default Timeline

What happens at 30 days late, 90 days, 270 days, and beyond — the full sequence from first missed payment to garnishment and recovery.

Wage Garnishment

Understand how much can be taken from your paycheck, how the 15% federal cap works, and what the $217.50 floor means for you.

Tax Refund Offset

Find out if your federal tax refund is at risk, how to check before you file, and what to do if your refund was already intercepted.

Social Security Offset

If you receive Social Security and are in default, part of your benefit can be withheld. See how much is protected and how much is at risk.

Loan Rehabilitation

The only option that removes a default from your credit report. Nine income-based payments over 10 months — and garnishment stops after payment 5.

2026 Repayment Changes

The SAVE plan has ended and new repayment plans take effect July 1, 2026. Here's what's changing and how to choose.

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What Happened to the SAVE Plan?
SAVE has ended. See the timeline, what happens if you do nothing, and how to pick your next repayment plan.
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RAP Calculator
Estimate your monthly payment under the new Repayment Assistance Plan based on your income and family size.
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RAP vs. Tiered Standard
Borrowing after July 1, 2026? Compare your only two repayment options side by side and see which one costs less.
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Extra Payment Calculator
See how much faster you'd be debt-free, and how much interest you'd save, by paying a little extra each month.
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Know Your Rights

Plain-language answers to the questions borrowers worry about most.

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Student Loan Misconceptions
Common myths about default, garnishment, and forgiveness — and what is actually true.
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Student Loans & Bankruptcy
When student loans can and cannot be discharged in bankruptcy, and what the process actually involves.
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What is financial-lit.com?

A free resource for everyday financial decisions — built specifically around student loan default, garnishment, and recovery. Every tool is designed to be fast, plain-language, and honest about what it can and cannot tell you.

These are educational tools — not replacements for professional advice. We are not affiliated with the government, the Department of Education, or any loan servicer.

No data collected or sold Every number you enter stays on your device. No account, no email, no tracking.
Built for quick reference Tools are designed to give you a useful answer in under two minutes.
Honest about estimates Every calculator is clear about what it includes, what it does not, and where to go for more precision.