Top lawmakers demand Social Security retirement, survivor and disability benefits be exempted from student loan-related offsets
Senators have warned that millions of senior Americans could be at risk of losing their Social Security payments if they default on student loan repayments.Democratic senators have written to the Social Security Administration , as well as the Treasury and Education Departments, urging them to take action on the risk faced by student loan borrowers aged over 65.
In the same time frame, there was also a significant rise in the number of Social Security beneficiaries who had their benefits reduced due to defaulting on their student loans. In 2002, approximately 36,000 individuals were affected by this issue, whereas in 2015, that number surged to a total of 173,000, according to a report by the Government Accountability Office.
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