Social Security Garnishment for Student Loans Targets Older Americans
The resumption of student loan collections under the Trump administration is disproportionately impacting older Americans, many of whom face Social Security garnishment despite decades of struggling to repay loans. Hundreds of thousands of individuals aged 62 and older, holding an estimated $125 billion in defaulted loans, are at risk of having their benefits seized, leading to severe financial hardship. This renewed collection effort, while intended to improve the nation’s economic outlook, is forcing many elderly borrowers to make drastic cuts to their already limited budgets and creates a situation where federal benefits are essentially being taken away with one hand while given with another. The issue highlights the growing burden of student loan debt among older generations and the unintended consequences of policies that fail to consider their unique circumstances.
John Q. Hosedrinker