Deadbeats get their Social Security hammered

https://www.washingtonpost.com/news...efits-to-student-debt/?utm_term=.1c69f91aa325

Researchers found that at the time of their initial Social Security garnishment, nearly half of borrowers age 50 and older had held their student loans for 20 years or more. A majority of these borrowers owed less than $10,000 when their benefits were first cut and many were hit with the maximum reduction, the GAO said....

There has been a 10-fold increase in the amount of student debt held by people age 65 and older, from $2 billion in 2005 to $22 billion a decade later. Even though people younger than 50 hold the largest amount of debt, a greater share of older borrowers were in default on their student loan and became subject to garnishment last year.
 
Arnie said:
So someone that is 60+ hasn't been able to pay of a debt from their 20's???
WTF!
More...
Exactly.
Because they thought they could get away with it.
Personal responsibility mother fuckers!
So happy to see this happening
 
There are many who use the student loan system as a life style. They are perpetual students. So long as you're a full time student you don't have to pay the loans, they just keep rolling over. Others are just bums that go into default and have little income throughout their lives. I can see and somewhat sympathize with people in their 30's who have come upon hard times and/or happened to choose a educational opportunity that hasn't panned out, but if you haven't paid this loan off in 40 years, so sad, too bad.
 
Nah, , most probably hamburger flippers that lost their jobs, and studied to make Burritos at Chipolte instead.

We know how that turned out.

All said, I bet food stamp abuse is 10x the problem.
 
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