State Senator Proposes Law to Cap Wage Garnishment of Student Debtors

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State Senator Proposes Law to Cap Wage Garnishment of Student Debtors

Dec, 13th 2016

State Senator Bob Wieckowski (D-Fremont), who has successfully brought relief for low-income Californians fighting wage garnishment in the past, is now setting his sights on assisting private student loan borrowers by lowering the amount that can be taken from their paychecks to the same level as federal loan borrowers. The senator introduced SB 16 yesterday, the first day of the legislative session.

Private student loan creditors can garnish up to 25 percent of a young person’s disposable income. SB 16 lowers that cap to 15 percent, the same as federal loan servicers.

“While Donald Trump can file bankruptcy six times for his failed casinos and hotels, our young people pursuing higher education are not so lucky,” said Wieckowski, a member of the Senate’s Judiciary Committee. “SB 16 instills...

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