New Government Rule Targets Retirees – Social Security Garnishments Return for This Group of Retirees
Article Excerpt: "...There are millions of Americans who rely on Social Security as a financial backbone, especially for seniors. As of this summer, a change of policy means that an approximate 15% of benefits could be garnished for recipients who are behind on their federal student loans. This could cause a major impact on millions of citizens.
There are over 5 million citizens who are in default on their federal student loan. According to NBC New York, these rates are increasing.
Amongst these defaulters are retirees and vulnerable populations. ..."
Resource: www.grada3.com