US EditionOlder people in crosshairs as government restarts Social Security garnishment on student loans
- The Trump administration resumed collections on defaulted student loans in 2023, including garnishing Social Security benefits of older Americans across the United States.
- This restart followed the end of a grace period amid a six-fold increase in student loan debt for people aged 60 and older over the past 20 years.
- Borrowers like 62-year-old teacher Debbie McIntyre and 73-year-old retired worker Christine Farro face mounting debt, limited income, and hardships managing repayments and garnishments.
- Individuals aged 60 and above carry student loan debt totaling around $125 billion, with the number of Social Security recipients facing garnishments rising dramatically by 3,000% since 2001, and their average loan amounts surpassing $56,000.
- The renewed enforcement risks severe financial strain for older borrowers on fixed incomes, potentially causing hardship and restricting their essential spending.
168 Articles
168 Articles
Older people in crosshairs as government restarts Social Security garnishment on student loans (copy)
As the Trump administration resumes collections on defaulted student loans, hundreds of thousands of older Americans with decades-old debts are now at risk of having their Social Security checks garnished.
Older people in crosshairs as government restarts Social Security garnishment
NEW YORK — Christine Farro has cut back on the presents she sends her grandchildren on their birthdays, and she’s put off taking two cats and a dog for their shots. All of her clothes come from thrift stores and…
Tulsa World
Winston-Salem JournalSeniors struggle to repay student loan debt
NEW YORK — Christine Farro has cut back on the presents she sends her grandchildren on their birthdays, and she's put off taking two cats and a dog for their shots. All her clothes come from thrift stores and most…
3 options for student-loan borrowers in default to protect their wages and Social Security
Student-loan borrowers in default could face wage and benefits garnishment. Shutterstock This summer, millions of student-loan borrowers could lose some of their wages and federal benefits if they don’t start making payments. They have options to avoid those consequences — but it won’t be easy. After President Donald Trump’s administration restarted collections on defaulted student loans on May 5, his Education Department said it sent notices to…
3 ways student-loan borrowers in default can avoid wage, Social Security garnishment: rehabilitation, consolidation, bankruptcy
Student-loan borrowers in default could face wage and benefits garnishment.ShutterstockThis summer, millions of defaulted student-loan borrowers could face wage and federal benefits garnishment.They have options to avoid those consequences, but some routes can take longer than others.Options include loan consolidation, loan rehabilitation, and bankruptcy.This summer, millions of student-loan borrowers could lose some of their wages and federal b…
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