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A Government Accountability Office (GAO) report indicates that at least 114,000 Americans have had their Social Security benefits garnished because they could not make their student loan repayments.
Learn More: America’s Retirement Crisis: How Social Security, Student Loan and SNAP Shortcomings All Play Significant Roles Find Out: 7 Unusual Ways To Make Extra Money (That Actually Work)
Americans who have defaulted on their federal student loans and are nearing retirement might be in for a painful surprise. The government can garnish up to 15% of their Social Security income ...
Sue, 70, has $84,000 in student loans, and the SAVE plan helped her manage her payments. Now that it's blocked, she's worried about staying afloat.
According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15] The government combats this large outstanding balance with student loan forgiveness which come in several forms, the two most popular being Public Service Loan Forgiveness and Teacher Loan Forgiveness ...
More Americans over the age of 60 are paying off student loans than you think. ‘A war on the old and the poor’: 70-year-old with $84K in student loan debt worries Social Security won’t be ...