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Should Your Social Security Be Garnished for Student Loan Debt?
Two U.S. senators worry that retired Americans have enough trouble making ends meet without the government garnishing their Social Security checks to recover student loans and have asked the Government Accountability Office to investigate the practice. The U.S. Treasury is allowed to garnish Social Security to pay back student loans in default. Sen. Elizabeth Warren of Massachusetts and Sen. Claire McCaskill of Missouri, both members of the Senate Special Committee on Aging, sent a letter to the Government Accountability Office (GAO) last month, requesting that the agency study how such garnishment affects Americans’ retirement security. Read more…