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Trump administration pauses Social Security benefit cuts over defaulted student loans

  • The U.S. Department of Education has paused its plans to reduce Social Security benefits for those with defaulted student loans, according to a department spokesperson.
  • Experts warned that Social Security checks in June could significantly drop for retirees with defaulted loans.
  • Keast stated that the Department will soon start outreach to help recipients with affordable loan repayment options.
  • The Trump Administration aims to protect Social Security recipients who depend on fixed incomes.
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Mason City Globe GazetteMason City Globe Gazette
+27 Reposted by 27 other sources
Center

Education Department won't garnish Social Security of student loan borrowers in default

About 452,000 people aged 62 and older had student loans in default, according to a Consumer Financial Protection Bureau report in January.

Associated Press NewsAssociated Press News
+28 Reposted by 28 other sources
Lean Left

Education Department says it will not garnish Social Security of student loan borrowers in default

Borrowers who have defaulted on their student loans will no longer be at risk of having their Social Security benefits garnished, an Education Department spokesperson said Tuesday.

·United States
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  • 80% of the sources are Center
80% Center
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Fortune broke the news in New York, United States on Monday, October 21, 2024.
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