Americans with student loans who are behind on their payments could face having their wages garnished and other serious financial consequences now that the Trump administration restarted collections earlier this month.

After a half-decade pause of collection activity on federal student loans, the Trump administration announced on April 21 that it would resume seizure of defaulted borrowers' tax refunds, paychecks and Social Security benefits.

Millions of student-loan borrowers in default are at risk of wage garnishment this summer if they don't make payment plans.