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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 resumed collections on defaulted federal student loans in 2025. Garnishment notices are expected around July 2026. Use our free Wage Garnishment Calculator to understand your exposure — and see what rehabilitation would cost with our Rehabilitation Calculator.

Student Loan Tools

Calculators and guides built for borrowers navigating default, garnishment, and recovery.

Featured Calculator
Student Loan Wage Garnishment Calculator

Estimate how much of your paycheck can be withheld for a defaulted federal student loan — and learn what you can do to stop it.

Quick Check Precise MAX version All pay frequencies State taxes Loan payoff estimate
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7.7M
borrowers in default entering 2026
15%
maximum that can be withheld per paycheck under federal law
$217.50
weekly income protected by federal law — garnishment floor
Two tools in one: a fast Quick Check and a precise MAX calculator with state taxes and filing status.

All Calculators

All free, no account needed. More tools added regularly.

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Wage Garnishment Calculator
See how much of your paycheck can be withheld for a defaulted federal student loan. Includes Quick Check and MAX versions.
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Rehabilitation Payment Calculator
Estimate your 9 monthly rehabilitation payments based on your income — and see how much less it costs than garnishment.
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Rehab vs. Consolidation Comparison
Compare rehabilitation and consolidation side by side — timeline, credit impact, payment amounts, and PSLF eligibility.
Coming soon
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Student Loan Payoff Calculator
Estimate how long it takes to pay off your student loans and how much interest you will pay over time.
Coming soon
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Debt Snowball & Avalanche
Compare two debt payoff strategies side by side — see which one saves you more money and pays off faster.
Coming soon
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Generational Wealth Calculator
See what your money could become over decades — and what you could pass on to the next generation.
Coming soon

Student Loan Default Recovery

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

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.

Default Timeline

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

  • Default Timeline Guide — Coming soon
  • Default Recovery Checklist — Coming soon

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.