Government Can Steal Retirees' Social Security Because of Student LoansSubmitted by Ed Thinking on Fri, 08/17/2012 - 14:18
Families often pull together to help finance a college education, with parents and grandparents chipping in or co-signing loans. And now, a SmartMoney report finds the U.S. government withholding money from Social Security recipients who've stopped paying on federal student loans.
And it's an increasingly common event, as AnnaMaria Andriotis, a senior writer at SmartMoney, tells Morning Edition co-host Renee Montagne. Much of the debt stems from federal PLUS loans, taken out by older family members to help students.
Before taking a student loan get the good counsel of Peter Schiff: http://www.youtube.com/watch?v=VTNFfzUsptI (Why government guaranteed student loans are a terrible idea)