Student Loan Crisis and Its Impact on Credit and Retirement Benefits
TL;DR Summary
The Trump administration is resuming collection efforts on defaulted federal student loans, which could lead to a 15% deduction from Social Security benefits for retirees, affecting nearly 3 million seniors, including over 450,000 who have defaulted on loans while receiving benefits.
- Thousands of retirees may soon see Social Security checks docked by 15% as Trump admin resumes collections Yahoo Finance
- Millions of Americans hit with bad credit after missed student loan payments The Washington Post
- How the Student Loan Crisis Will Show Up in the Economy WSJ
- Borrower Credit Scores Plunge Following Student Loan Delinquencies PYMNTS.com
- Here's the full list of states with the highest rates of student loan delinquency MARCA
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