debt

Mary Green Swig, Roger Hickey & Steven Swig – One In Eight Americans Burdened By Student Loan Debt, Including 700,000 Seniors

It will not be news to 41 million Americans that this nation is in the middle of a student debt crisis. That’s the number of people burdened by student loan payments. But many people, including many student debt holders, may be surprised to learn that people can be pursued for student debt even into their elder years.

In fact, the government is withholding Social Security payments for some retirees, because their student loans have not been fully repaid.  This is a growing problem which Sens. Elizabeth Warren and Claire McCaskill have asked the government [5] to study in greater depth.

“Garnishing Social Security benefits defeats the entire point of the program — that’s why we don’t allow banks or credit card companies to do it,” said Sen. McCaskill. “Social Security is the sole means of retirement income for tens of millions of Americans, and allowing those benefits to be garnished to collect student loan debt cuts a dangerous hole in our safety net.”

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