Aug 22, 2012

Feds Dock Social Security for Unpaid Student Loans

"...thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits...

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student loans. From January through August 6, the government reduced the size of roughly 115,000 retirees' Social Security checks on those grounds..."

Read more at SmartMoney.com

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