student loans

May 5 is Approaching Rapidly…Here’s an Update on the Student Loan Outstanding Debt Collection Process

For more than 5 million student loan borrowers in default, and another 4 million late in their payments, the May 5 resumption of forced collections is likely to cause a massive financial upheaval. Newsweek’s Aliss Higham, in a post today…

New Rules for Student Loan and Social Security Garnishment

May 5 is the target date for the Treasury Offset Program to begin collecting on defaulted federal student loans. A Marketwatch.com article by assistant managing editor Jillian Berman reports “… the process that allows for borrowers who are in default…

Senate Bill to Block Social Security Garnishment Reintroduced

Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…

Seniors and the Student Loan Debt Crisis

The numbers are frightening…according to the Consumer Financial Protection Bureau (CFPB), the last decade has seen a dramatic increase in the number of older Americans with student loan debt, much of which is attributable to loans they’ve co-signed on behalf of family…

Understanding “Administrative Offset”

The term “administrative offset” is a kind of catch-all phrase referring to a process where funds due–including Social Security Disability payments–to a recipient can be redirected to cover an outstanding debt. The process, for example, can apply to student loans, delinquent…

Veterans and Student Loan Forgiveness: DOE Steps of Forgiveness Efforts

(Source: www.ed.gov) WASHINGTON, D.C. – The U.S. Department of Education (Department) has partnered with the U.S. Department of Veterans Affairs (VA) to make it easier for America’s disabled veterans to have their federal student loans discharged. “Our nation’s veterans have sacrificed…

Student Loans and Social Security: New Legislation Introduced

Www.plansponsor.com’s Rebecca Moore takes a look at H.R. 1937: Student Security Act of 2017, introduced last year with an objective of providing “loan forgiveness to borrowers of Federal student loans who agree to delay eligibility to collect Social Security benefits, and…

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