Student Loans Collecting Social Security Checks

13 Aug Student Loans Collecting Social Security Checks

Recent graduates aren’t the only ones who are worried about their student loan debt. According to today’s article, there is a huge concern for people over 50 who owe. The article discusses how, as you may know, the government is allowed to garnish wages as well as social security checks. “For older Americans, owing for government-backed student loans can be particularly tough. Unlike other kinds of debt, including private student loans, collectors of federal student loan debt have the power to garnish income, block benefits, and withhold tax rebates. As a result, some older borrowers are seeing part of their Social Security payments seized and their wages cut off just when they are especially vulnerable.” To read the entire article, CLICK HERE.