Garnishment of benefits are on hold - CNBC
In yesterday’s headline article: “Are you at risk of a smaller benefit due to defaulted student loan?” the U.S. Department of Education announced it would begin to garnish Social Security benefits on those individuals who have defaulted on their student loans. However, one day later, the Administration decided to pause its plan, at least for now, to garnish the more than 450,000 Social Security benefits of those aged 62 and older. This reprieve will give older student borrowers who are in default more time to get current, avoiding a reduced benefit later. Annie Nova, reporting for CNBC, discusses the latest developments in this issue. Read Ms. Nova’s article here…
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