Borrowers holding private student loans managed by the National Collegiate Student Loan Trusts (NCSLT) may soon receive a share of $2.25 million in compensation for alleged improper debt collection practices.

Some borrowers with private student loans could receive monetary compensation and other relief under a proposed CFPB judgment. Here’s what borrowers should know.

If you have had trouble staying on top of your student loan payments and are concerned about the prospect of wage garnishment, there are steps you can take. The most straightforward is to "make consistent, timely payments," ensuring you remember deadlines by "setting up automatic payments or reminders," said LendingTree.