0 votes

Government Can Steal Retirees' Social Security Because of Student Loans

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.

More on NPR:
http://www.npr.org/2012/08/17/158946520/student-loans-can-de...

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)

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

You sign for a loan from the

You sign for a loan from the government, you don't pay it back so the government goes after your SS check. How is that stealing? Isn't taking out a loan and not paying it back stealing?
BTW yes I agree that the government shouldn't be in the student loan business to start with.

They also shouldn't be in the retirement security business.

I agree on both counts.