Transcription of WAGE WITHHOLDING FOR DEFAULTED STUDENT …
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WAGE WITHHOLDING FOR DEFAULTED STUDENT …
wage WITHHOLDING FOR DEFAULTED STUDENT LOANS A HANDBOOK FOR EMPLOYERS Revised June 18, 2008 2 TABLE of CONTENTS A Letter to Employers ..3 The STUDENT Loan Program .4 5 The Basic Steps Employers Follow for WITHHOLDING .. 6 Employer Notification .. 6 Amount of WITHHOLDING .. 7 How to Remit the Earnings Withheld .7 8 When to Stop WITHHOLDING .. 9 Employer Compliance .. 9 Inquiries .. 10 Public Law 102 164; 20 1095 a et seq.. 10 11 Privacy Act Notice .. 12 Employer Instructions for Complying with the Order of WITHHOLDING .. 13 15 Attachments & Instructions Attachment A1 Order of WITHHOLDING from Earnings .. 17 Attachment A2 Second Notice of Order of WITHHOLDING from Earnings .. 18 Attachment B1 Employer Acknowledgment of wage WITHHOLDING .. 19 Attachment B2 AWG Worksheet Instructions ..20 Attachment B3 AWG WITHHOLDING Worksheet ..21 Attachment C Release of Order of WITHHOLDING from Earnings.
3 Dear Employer: The Federal Family Education Loan Program (FFELP) provides low-interest loans for postsecondary education. This program is administered by guarantors, such as USA Funds ® on behalf of the federal government. When borrowers fail to …
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