Tuesday, September 16, 2014
Seniors Forced Into Poverty As Education Department Demands Payment
http://www.huffingtonpost.com/2014/09/11/seniors-education-department-student-debt_n_5807820.html. DUE 22 September 2014. Why is the Department of Education deducting loan payments from social security payments? Is this a good thing or a bad thing?? How does this affect you and the price of your student loans???
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The Department of Education is deducting the loan payments from past students due to the lack of seniors that is paying up for the past loans. Seniors from the ages of 64 and younger were stated to pay for the student loans through their social security accounts. Although the seniors had to pay off their student loans, I do not believe that it was a good thing to establish recently. Seniors are growing more and more year by year due to the large innovation in medical science and technology that could prolong the lives of seniors longer than compared to years ago. Having the seniors pay off their loans currently could cause numerous of negative factors that for future generations.
ReplyDeleteCurrently, students would now need to receive less loans, but some students need to have loans to pay for other factors such as dorm expenses, food expenses, and etc. This could affect me in the future in my student loans if I need to make the loans and I would be notified constantly to pay them off.
Seniors that have reached the age of 64 or younger are paying student loans from their well earned social security accounts. Why? Since there is not a sufficient number of seniors that have paid for their past loans, the Department of Education is taking the loan payments from past students. In reality it seems wrong, why is The Department of Education stealing from the old people? But what other solution is there? Students receiving less loans means that there will be a tradeoff somewhere else, like taxes. Also Students could try to get a raise from their work but it would merely put a dent in the 1.3 trillion dollar debt they are in.
ReplyDeleteHonestly, in my eyes, I think this is just an American failure. When I was younger I was told I needed to got to college if I wanted to improve my chances of getting a better career and eventually start my own company, but it seems like all I am going to college for is to pay more taxes, debt and loans.
The Department of Education is deducting student loan payments from social security payments because they are rarely able to discharge federal student loans by declaring bankruptcy. Also part of the reason is because it is federal law. It is a bad thing because rising student loan debt risks leaving Americans with less money for their retirement, because it keeps them from saving for retirement.
ReplyDeleteIt affects the price of my student loans because there is an increase in college tuition that outpaces federal borrowing limits for undergraduates, more parents are taking out federal student loans. If not paid off it can result in an increase student debt that will be hard to pay off.
The Department of Education is deducting loan payments from social security payments to get the money from students who are not paying their student loans. Many of the people who graduated from college who are now seniors (not high school seniors, which I got confused by at first) have not finished paying their student loans. Because of this, the Department of Education is taking money away from their social security payments. They are taking money from old people. This is a bad thing because more and more people are having to allocate money to pay student loans instead of spending money in the markets and adding to the economy. Also, they have less money to spend on food and other living essentials. Some are even in poverty because of student loans. This will affect the price of my student loans because they will probably go up. This is to make sure that I pay them back.
ReplyDeleteThis is Seth Adler
DeleteStudent loan payments have been deducted from social security payments because the Department of Education needs the money from the loans that students haven't paid yet. Many of the Baby Boomers are being forced into default because they have not paid their loans on time. This is a bad thing because it is placing more and more senior citizens at or below the poverty line. This has made their retirements less secure as they lose more and more of their social security to student loans. Due to senior citizens not paying their loans, student loan prices will increase as tuition continues to increase. This will hurt me financially if i do not pay off my loans on time.
ReplyDeleteOlder Americans are facing the backhand of student loans as they reach retirement, according to federal law which mandates a return of “past defaults on their federal student loans.” Not only has this left them without social security, but has significantly dipped into savings for retirement and left them with below–poverty thresholds. By not paying back student loans within a year period, the federal government has tracked down seniors settled into retirement – many of them finding it impossible to pick up a job to pay it back. Because of this, they tackle social security, as unpaid loans reach $1.3 trillion.
ReplyDeleteThis is a terrible idea. Not only has this left seniors without substantial income, but it’s begun a cycle of stagnation for the economy: more older parents are picking up the debt so that their children can go to college, but tuition rates have only risen and employment decreased (or increased 0.02%). It has become harder and harder to obtain a higher-up degree, and thus parents and students alike have cut on spending. By cutting down on spending, we reduce the amount of quantity and raise prices, stagnating companies. This continues and continues until people simply cannot afford their children’s education at the expense of their livelihoods.
The Department of Education is deducting loan payments from seniors with social security benefits because these once college attending students are failing to pay back their student loans. With a large amount of their social security gone to defaulted student loans, a large amount of senior citizens from the Baby Booming generation now have their benefits below the poverty threshold.
ReplyDeleteWith thousands of seniors going into poverty this is most definitely a bad idea because this means that this percent of the population cannot go into retirement or live with a good income. Student loans will most likely increase because of the large amount of people who cannot pay it meaning that I must save up more money now in order to go to college in the near future.
The Department of Education is in a way, repossessing money used for student loans from seniors' retirement funds. The loans were never paid back by the seniors and now the money is being taken from social security and personal retirement funds.
ReplyDeleteThis is very bad news for younger generations because as these seniors will most likely be supported on the backs of working Americans. They will have a lower standard of living and the student loans will continue to rise.
Currently, we are seeing a big number of senior citizedns being forced into poverty by the Department of Education. These senors, who have been forced to pay default student loans, have recieved massive cuts to their social securities and their retirement benefits. This is ridiculus. The Department of Education is getting away with this legally. These seniors are only required to recieve $750 dollars a month for retirement, a figure that was above povery levels, according to the article, as of 1998. Today, that is barely over half the pverty level income, which the article says is $1 073. This is just ridiculus. Now, we are seeing jounger individuals not investing in their retirement funds. And it makes sense!! Why invest in retirement when they are taking your money anyways. Of course, when all these people not investing in retirement are working at the age of 65 and 70, us young people of the generation after ours will have to compete more to get that position. Which will only sum up the number of unemployments in the country, and we'll have people begging in the streets for money and people livivng of of welfare, a system that was initially supposed to only help the senior citizens in the first place. Does any one else see something broken here? The government needs to stop fooling around with our money, they have to give the seniors what they deserve and start making the right desitions.
ReplyDeleteSeniors that have reached the age of 64 or younger are paying student loans from their social security accounts.Although the seniors had to pay off their student loans, I do not believe that it was a good thing to establish recently."As the baby boomers continue to move into retirement, the number of older Americans with defaulted loans will only continue to increase. This creates the potential for an unpleasant surprise for some, as their benefits are offset and they face the possibility of a less secure retirement." Having the seniors pay off their loans currently could cause numerous of negative factors that for future generations. Obviously making it a bad thing. Currently, students would now need to receive less loans, but some students need to have loans to pay for other factors such as dorm expenses, food expenses, and etc. This could affect me in the future in my student loans if I need to make the loans.
ReplyDeleteThe Department of Education is deducting loan payments from social security because the loan is in default, which means that it has not been paid for a while. If someone is not making payments on their student loans the only way to ensure that they pay off their loan is to garnish their wages or in the case of seniors, garnish their social security payments. This is a bad thing for a few reasons. For retired seniors, social security may be their only source of income, by taking away from this the Department of Education is causing seniors to face an insecure retirement plagued by uncertainty. Another consequence of the Department of Education taking loan payments is less spending due to the need to pay for loans. Less spending could impact the economy and slow any growth that could take place.
ReplyDeleteThis affects me and the price of my student loans by causing them to increase. They will increase because of the fact that all these older individuals are unable to pay back their loans. Loans may also be harder to get because of the worry that they will not be paid off as is the case with the older generations.
The Department of Education is deducting social security payments from senior citizens and retirees. They are taking the payments because a huge percentage of them defaulted on their student loans, and now the department needs the money. This taking of their money is resulting in many senior citizens having a monthly allowance of less than the poverty line, which is overall a bad thing.
ReplyDeleteThis affects me because if I ever have to take out a federal loan, the price will be higher. The department of education will most likely be more critical with their loan repayments, which could screw younger people over.
The Department of Education is deducting loan payments from Social Security payments because many of the student loans that were made by people who are now 65 are in default or they haven’t been able to pay them off. This is a bad thing because the amount that senior citizens are being charged for has risen proportionally from its cost when the loan was first taken out to what it would be today, taking inflation into account; however the minimum amount of money that the government must leave in a Senior citizens check has not increased with inflation, leaving them to receive Social Security benefits below the level of poverty. The price of student loans is definitely high, once I take one out I’ll need to begin working hard to pay it off.
ReplyDeleteThe Department of Education is deducting student loan payments from social security payments because the Department of Education needs the money from the loans that students, the baby boomer generation, haven't paid yet. This is a bad thing because not only does it take money away from the senior citizens and puts them in financial distress, often putting them below the poverty line. This affects me and my student loans because the loan prices will increase. There is also a good chance that it will be harder to get a loan as the Department of education might be more stringent as they see us as not likely to pay off loans much like the older generation.
ReplyDeleteTens of thousands of senior citizens are being forced into poverty because of the Education Department requiring them to pay off their student loans decades earlier. This money is being taken out of their social security benefits making their monthly income fall below federal poverty lines which is absolutely absurd. “More than half of federal student loans held by borrowers at least 75 years old are in default.” This is a remarkably high number but could be understood because loan payments weren’t as strict so long ago. Many people were a part of this “Baby boom” generation and a lot of debt has accumulated because of all these seniors not paying their student debts and now they are paying for it. Nearly half of all Americans had to cut back on their spending in order to pay for their student loans which is really disappointing. The rules were crafted in 1990 so that social security is at minimum $750 a month. But because of the inflation this is now not enough to survive. I think that the federal law needs to be tweaked and the inflation needs to be accounted for so that these seniors don’t fall into poverty.
ReplyDeleteThe baby boomers which have been out of school for at least 30 years have neglected their student loan payments. The department of education is obliged to follow federal law and retrieve the debt through social security. Whether this collection is a good or bad thing is up for debate, but the positive outcome is that these people who have leeched the government for a free education will repay the government for lost money. But on the other hand many will be left with a less secure retirement, and economic growth is most likely dampened with a the decrease in spending power. The magnitude of the problematic situation with student loans burdens the generations to come such as my generation. Since the baby boomers have taken to MESS the government up, the government has to take preventative action which involved substantially higher interest rates making college a harder goal to achieve. The problem is already massive and as time goes on its only going to worsen. At this point all we can do hope that these debtors will demonstrate their willingness to pay bay their loans so that the generation to come will have a fighting chance in the cruel world of tomorrow. I defiantly support the collection even though thousands will be thrusted into poverty because this has just come a $1.2 trillion dollar problem and the United States can't afford not having that money as many have chose to not pay the government because it was not IMPORTANT but from this point on they will understand the extent to which the United States of America is willing to go to protect future economic prosperity.
ReplyDelete"but the positive outcome is that these people who have leeched the government for a free education will repay the government for lost money."
Delete"all we can do hope that these debtors will demonstrate their willingness to pay bay their loans so that the generation to come will have a fighting chance in the cruel world of tomorrow."
Your a true American.
The Department of Education is deducting student loan payments from the elderly with defaulted debt obligations. They're deducting this money from social security checks that are often the only source of income for there people. As a result many of our nation's elderly are becoming impoverished.
ReplyDeleteIn my opinion this is definitely a good thing. The reason this is a good thing is because if these people aren't held responsible for their fiscally irresponsible behavior, then my generation will be held responsible. I don't think it's fair for me to give up the products of my hard work to pay for people that did not care enough to pay off their debts. These people enjoyed the benefits of a higher income due to their degrees for free while those that were responsible enough to pay off their debts had to pay. That's un-American and it's unfair.
The most troubling part of this article was a statistic brought up near the end. The author wrote, "Some 35 percent of survey respondents who are paying back student loans said they had to reduce their spending by "a little" over the past year to keep up with student debt payments." This bothered me because a large fraction of Americans don't care enough to seriously curb their spending to pay off their debts. This is obviously not a priority for them since their spending was only reduced by "a little". These people will probably be the same people that are complaining in their retirement because the Department of Education is seizing their social security checks.
This issue will probably affect me because student loans may be harder to obtain in the future. The Department of Education will be cautious giving away money if they suspect that it will never come back. Interest rates on any student loan I may need might be higher in the future. The DOE may do this to both discourage people from getting student loans and to try to earn back some of the money they lost from past generations.
Do you see what you are writing. You literally say that these old people have enjoyed years of high incomes and they have to pay their debts back to the DOE. Well they having been paying back the DOE indirectly, because since these people got higher incomes due to the loans they pay more in income taxes which in turn gets invested back into the DOE. Even if you say the government doesn't invest that much into education this is only because the government doesn't have enough money. It's logical to say the more money the government has the more they will invest in education. Don't act like these old people have not been giving back to society when they have through all the things they bought and taxes they were able to pay because of this higher wage.
DeleteWhat were these people suppose to do not get loans and not go to school. They would just end up poor, then people like you would say they had so many opportunities why didn't take a loan if they couldn't pay for school. Either way they would be hurting our generation in some way whether they got the loans or not. So I prefer the lesser of the two evils.
Stop spewing your liberal propaganda you socialist. I'm scared to live in this welfare state that this new generation will lead us too. RIP the American dream. Our founding fathers are turning over in their graves.
DeleteYou say that the elderly have indirectly payed back their student loan debts because they enjoyed higher incomes and this higher taxes. By that logic, the entire 1% shouldn't worry about paying any future taxes or any future debts. In your opinion these people will have already indirectly payed this off.
You also assume that the government needs more money because if they get enough then they'll inevitably eventually put it in the right places. This is not the case. The government will just waste it paying for congressman's vacations and funding another war in The Middle East. But no, I'm sure if you pump the American people dry and increase government assets, INEVITABLY that money will go to education. Just ask our underpaid teachers and the students at Piper with ripped up, tattered textbooks.
Did you even read my reply you are just spewing a whole bunch of nothing. Are you telling me the American dream is to watch by and let people die? The
DeleteFounding Fathers Are Rolling In Their
grave hearing you talk. What tattered textbooks look around you more money is going to education. All I see are new textbooks. People like you are destroying this once great nation
On terms of the rich not paying taxes all I said is that they have been giving to the community not that they should stop. It was just trying to show these old people aren't demons.
DeleteI don't think its right that these old people are being thrown into poverty because of loans they couldn't pay off. If you do the math I'm sure the amount of money they have paid in taxes for 30+ years would be more than enough to pay for these loans. So even if they didn't pay back these loans they were still contributing members of society, and I'm also sure if all these people had not gotten loans and not gone to college because they can't afford it there would also have been a spike in crime around that time. Although I feel as though they should have paid their loans I don't think it enough of a sin to throw them in the poor house. I also don't think this would have such a great impact on my generation as others claim, and even if it does I don't see this as being unique to this situation I.e. Even if they didn't get loans I don't see how the DOE would have been better off.
ReplyDeleteThe Department of Education seems to be deducting student loan payments from the elderly via social security. This is due to the influx of elders who have not paid of their student loan debts from their past education, which has become a serious problem for the elderly as they prepare for retirement. They may not be prepared for the life changing decisions that will have to occur at thus point. Therefore, this is a negative occurrence for the elderly who may may have had plans for this time in their lives.
ReplyDeleteThus may be harder for me as I plan my educational prowess, where if I make a decision on whether or not I need student loans, I won't be able to reap that benefit. Hopefully it won't come to that point.
The DOE is deducting loan payments from social security paychecks in order receive their money back that has not been paid back. While it is considered federal law, it does not account for the limits that state how much can be taken out of a social security paycheck. Inflation over the past couple decades have changed, yet the law hasn't accounted for it yet. This ends up being a bad consequence for Americans. Those who struggled to pay back student loans are left having money taken from payments that they are most likely living off of paycheck to paycheck. The DOE isn't doing them any justice by taking their only source of income. In the future, this will most likely lead the DOE to either make student loans harder to attain or they may raise the loan interest in order to receive money back from past generations. My generation will have to take the fault for the student debt.
ReplyDeleteThe Department of Education is deducting loan payments from social security because the loan is in default. This now means that it has not been paid for a while. Not only has this left them without social security, but they had to go into their savings for retirement and left them with below–poverty thresholds. By not paying back student loans within a year period, the federal government has tracked down seniors settled into retirement. Many found put that it is almost impossible to pick up a job to pay it back. Because of this, they tackle social security, as unpaid loans reach $1.3 trillion. Overall this is mostly a bad thing because social security may be their only source of income, by taking away from this the Department of Education is causing seniors to face an insecure retirement overwhelmed by uncertainty. They will increase because of the fact that all these older individuals are unable to pay back their loans.
ReplyDeleteAccording to a government audit, the Department of Education has been deducting loan payments from seniors with social security payments because they have defaulted federal student loans that they have not paid back yet. Seniors who attended college in the past years or longer have borrowed loans so fast that they have been outpacing federal borrowing limits. This to some individuals led to them asking their parents to help them take out more federal student loans to pay for their education. However, the article stated that most of these seniors took out student loans at the age of 50-64, which shocks me a bit because I would think the seniors would continue working and saving for their retirement rather than take out a student loan to go back to school and then face the consequence of losing their retirement savings in order to pay off their student loans.
ReplyDeleteIn my opinion, this is considered to be a bad thing because of the fact that these seniors have been borrowing money nonstop and then did not decide to pay off their loans before and now they face the consequence of losing their retirement and social security funds to pay off their loans. This will eventually leave the seniors in poverty as stated in the article, and prevent future individuals who attended college to halt saving for retirement just because they did not pay off their student loans afterwards. With seniors now forced to pay off their student loans with their social security and retirement savings, this will definitely lead to a negative impact for my future in college since student loans will soon increase and if not paid back quickly, may lead me to end up like the seniors today.
The Department of Education is deducting the loan payments from past students due to the lack of seniors that is paying up for the past loans. With a large amount of their social security gone to defaulted student loans, a large amount of senior citizens from the Baby Booming generation now have their benefits below the poverty threshold. This is a bad thing because it is placing more and more senior citizens at or below the poverty line. This affects me and my student loans because the loan prices will increase. Loans may also be harder to get because of the worry that they will not be paid off as is the case with the older generations.
ReplyDeleteThe Department of Education, or the DOE, has been deducting the loan payments from the "socially secured" pockets of the elderly (that being 64 or younger). They are stripping away these payments because they have failed to pay off previous debts of their once student days. These senior citizens are slowly trickling down below the poverty threshold which can be extremely detrimental to the economy. These unpaid loans can reach up to 1.3 trillion in price. This is horrible because these citizens may need those social security checks as their only source of payment and income. If those are being taken away, they will not have any of the basic living necessities because they can't pay for it. This obviously takes a toll on the economy because these people can no longer spend that money on things they normally would in the market because they are too busy spending on their past debts.
ReplyDeleteThis affects me tremendously. In the future, unless I have a substantially higher amount of money in my account, I am going to need student loans, but with all of this happening, it may be harder to obtain, or even pricier.
The Department of Education is deducting payments from social security to pay off loans that were not paid before by seniors. In the past, the now senior citizens took out loans for college or other expenses and now that they are old they feel like paying them off would be a waste since they wouldn't be living too much longer. These seniors are now getting less money from their social security checks which means they are not able to buy the things they are used to, which sometimes is leading the seniors into poverty. This is a bad thing because a lot of the top careers right now has to deal with senior citizens and if they go into poverty then there is a big loss of job opportunities for the younger generations.
ReplyDeleteThis will affect the loans i get because they may raise interest rates to ensure i pay them off early or go broke. This will also make a lot more stress for me having to worry about making the payments because of the price increase.
As a result of a Department of Education request, a recent student loan manhunt has gone underway. In it, retirees face the problematic task of paying back student loans they hadn’t returned within the 360 day requirement – something seniors simply cannot afford on their now below-poverty threshold incomes. The new legislation asks that these retirees pay “past defaults” on loans, burdening them with new debts which they cannot pay off due to their health. The fact that they have to dip into their social securities (and 401Ks) is startlingly.
ReplyDeleteI think it is imperative that seniors maintain a steady income, not the lower than normal incomes that have resulted in large curbs in spending. This in itself has affected a younger populace, which finds itself with inflated prices due to $1.3 trillion in loans they have not gotten back. Students, facing these startlingly arrears, have their parents take them out, worsening their debt, and lowering their purchases from companies, which in effect worsens the economy. There are fewer consumers due to the outrageous prices in the market – for staples and education. This will only continue in an endless cycle. Seniors will simply die in debt.
The Department of Education is deducting loan payments from social security payments because of unpaid student loans. About 27% of loans held by people ages 65 to 74 are in default so part of their Social Security benefits are being garnished to pay off the loans. This is a bad thing because many of these senior citizens are being forced into poverty. The minimum payment allowed to these seniors was not adjusted for inflation since 1998 so these seniors are now being paid below the poverty line and due to their age, many lack any opportunity to get out of it. This affects me as the price of my student loans increase drastically to help cover the unpaid loans. The amount that the average student owes continues to increase drastically, after adjusting for inflation. These loans will only continue to rise as the baby boom generation reaches retirement age and will have even more unpaid loans.
ReplyDeleteThe Department of Education is deducting student loan debt from social security because many retirees have defaulted on their student loans. Sen. Richard Blumenthal brought this issue to light after seeing the audit report. One reason Sen. Blumenthal might have brought this issue to light is because a major amount of his campaign donations come from the retired. This is a bad thing because seniors who are not working are now living in poverty from having their only income being trimmed down. I believe that the government should try to get money from student loans back, but while the person is still working, that way their later lives are not spent deciding between food and medical care. This will effect my student loans because with the government now knowing that they will get their money back one way or another they may be more willing to give out larger loans. This could end becoming an even worse situation than it is now, with my generation being in deeper debt.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments in an effort to recover money lent to senior citizens that have failed to repay their student loans. As a result of the DOE's demand of money, tens of thousands of seniors have been forced into poverty. Borrowers have had to lessen their spending to keep up with student debt payments. Their reduction in spending is not so favorable to our consumer-based economy that seeks growth. Retirement security is also affected because the presence of student loan debt for those nearing retirement may keep them from saving for retirement. I am affected because it will become increasingly difficult to obtain a student loan for the DOA's fear of encountering the same situation and the price of my student loan will rise to satisfy unpaid loans. In the future, the DOA may not so rashly hand out student loans knowing that may not be repaid in full and will probably not risk it.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because of those who failed to pay back their student loans in the past. Now seniors up to the age of 64 are bringing to pay these loans at the cost of their social security payments. This is a bad thing because this forces seniors to go into poverty and live at the bear minimum as opposed to the comfort they have worked for. Today’s parents pick up the slack as they cut back on their spending to compensate for increasing prices of student debt. This will affect me in the near future as it will most likely be more difficult for me to receive student loans.
ReplyDeleteThe Department of Education is deducting payments from social security of the elderly because it needs the money from the loans that students, the baby boomer generation, haven't paid yet. This is not a good situation for the elderly because not only does it take money away from the elderly but it also putting them below the poverty line. This affects my student loans because the loan prices will increase allowing me to afford less and there is also a chance that it will be harder to get a student loan as the Department of education might be more strict as they see us as not likely to pay off loans much like the older generation. The Department of Education is only afraid to trust our generation to pay off our loan because of the past occurrence.
ReplyDeleteSenior Citizens of 64 and younger are being pushed into poverty because of the Department of Education. They are being forced to pay for student loan payments of previous students through their social security. Enforcing people to pay off their loans is important, but if you're pushing a specific age group into poverty, it might not be the best idea. The senior citizens are growing in number due partially to the baby boom when they were born and also to the increase in medical technology allowing them to live longer and healthier lives. Having these seniors pay off their student loans now could have negative effects in the future.
ReplyDeleteThis could affect me later on because schools might start to put a cap on how much loans you can take, but many students require loans to pay for dorms, food, books etc. If I end up attending college, this could have a huge impact on me and the way I live while I'm attending.
The Department of Education is deducting loan payments from social security because now that they are on social security the department can withdraw owed money from their monthly checks. All these people have defaulted student loans that they thought they could just never pay but its coming back to haunt them now in their old age. This is a good thing for the Department of Education because they are generating more revenue now, but its a bad thing because the retired who are having money withdrawn from their checks are living in poverty. This could be a bad thing for me because with student debt around the US increasing limits might be placed or they may start charging higher interest for all the defaults on accounts of people who are not yet receiving social security
ReplyDeleteThe Department of Education is taking money out of Social Security payments to the elderly to pay off the debts from their education, that remain unpaid and unattended to. These same students are now elderly adults who are slowly becoming poverty stricken by their debts. These debts are adding up to become up to $1.3 trillion due to inflation and increasing interest rates. In retrospect this is most likely one of the most reasonable ways to handle a situation like this one, although it is harmful to those in debt. This has affected student loans now and will lead to my own student loan rates being horrendously aggressive and far higher than the were for the now elderly.
ReplyDeleteThey are deducting loans from SS because many people from that generation did not pay there student loans, so to collect they are deducting it from there retirement witch is putting a lot of people in the poor house! i feel like it neither good or bad, its suck that these people are not going to be able to survive of the income from SS, but they did owe money on the other hand. This will cause my interest rates to rise on my college loans.
ReplyDelete