Kramer Levin recently obtained a positive resolution for a low-income Army veteran in remediating $15,000 in student debt and stopping the garnishment of his social security income (his only source of income). Corporate associate Christopher M. Isaacs and Financial Services associate Matthew R. Silver successfully petitioned for an Income Based Repayment (IBR) plan for a client who had paid over $20,000 in interest on a student loan from 1972 that had an initial principal amount of only $2,750. Upon graduation from his university he served for 4 years in the Army in both Vietnam and Germany. After service, he worked for many years during which he continued paying the loan. Upon becoming disabled, the veteran was no longer able to work and the loan was placed into default resulting in the garnishment of approximately 20% of his social security income every month. The IBR plan has stopped the garnishment, moved the loan out of default status and no longer requires additional payments from the client. The Kramer Levin team, with supervision from Financial Services special counsel Mark F. Parise, worked with Legal Services NYC through its Veterans Student Debt Initiative.