Time is running out if you’re behind on your student loans, and your wages could be garnished this summer if you don’t take action by Monday.

After five years of payment pauses and delays, the US Department of Education announced that student loan payments and collections on student loans in default will resume on May 5. 

“The Biden administration misled borrowers: The executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear,” Education Secretary Linda McMahon said in a statement released on April 21.

Loan servicers can report loans as delinquent after they are 90 days past due, which can damage your credit score. Loans that are 270 days past due go into default. At that point, the entire loan balance becomes due immediately. Your loan servicer can also tack on collection fees and eventually garnish your wages.

The Education Department said more than 5 million borrowers have not made a monthly payment in over 360 days and sit in default. That’s a lot of people trying to resolve defaults before the May 5 deadline, especially after the department slashed its staff.

Experts advise taking action now. “This action only affects loans in default, not borrowers in repayment, including those enrolled in the SAVE plan in an interest-free forbearance,” student loan expert Elaine Rubin said in an email. “Borrowers in default should act quickly to prevent collection efforts by contacting the department’s Default Resolution Group.”

You can find out if your student loans are in default by checking your StudentAid.gov account or reaching out to your servicer. If your loans are in bad standing, here are three options you have right now.

Apply for a direct loan consolidation

Consolidating your defaulted loan into a direct loan consolidation is the quickest way (besides paying it off) to get out of default, experts say. However, there are a few things to consider. First, are you eligible for consolidation?

“If you defaulted on a direct consolidated loan, you may need at least one other eligible loan to consolidate,” Rubin said. “If you do not have any additional loans, consolidation may not be an option for you.”

Second, understand that consolidating your loan will stop collection activity, but there are still consequences.

“Although consolidation is quicker, it does not remove the default from the borrower’s credit history and interest and collection costs may be added to the outstanding loan balance,” student loan expert Mark Kantrowitz told CNET in an email.

If you choose to consolidate, you’ll have the option of entering into an income-driven repayment plan or making three consecutive, on-time payments to qualify for consolidation. Rubin said if you enroll in an IDR plan, the process can take up to 90 days.

Enter a loan rehabilitation

If you choose rehabilitation, you’ll need to make nine consecutive on-time payments based on your income. After that, your loan is considered out of default and the default (but not the delinquencies) are removed from your credit report.

If you decide to do to a loan rehabilitation before wage garnishment begins, Kantrowitz said you will not have your wages withheld while making payments. “But, if the borrower’s loans are already subject to garnishment, the nine out of 10 payments are in addition to the involuntary garnishment payments,” he added.

Rubin noted that while the deadline is quickly approaching, you should still carefully consider your goals before taking action. “If the primary objective is to rebuild credit and eliminate the default record, rehabilitation could be the best option,” she said. “On the other hand, if the borrower needs to qualify for additional financial aid in the near future, consolidation might be the more practical choice.”

Pay off the entire balance

This may be the least likely route if you’re struggling financially, but the Education Department said you can avoid collections and negative credit reporting by paying off your debt within 65 days of notification that your loans are in default. You can see your loan balance through your loan servicer’s account or by logging into StudentAid.gov using your federal student aid login and password.