If anyone needs additional proof that retirees are in, or approaching, a retirement crisis, look no further than student loan debt.
For the second time, according to a MarketWatch report, senators have introduced a bill that would protect Social Security disability and pension benefits against garnishment by the federal government in collection of student loan debt. The earlier effort, a bill introduced in 2015, was never passed.
But a group of senators, led by Ron Wyden (D-Ore.) and Sherrod Brown, D-Ohio, along with a number of prominent cosponsors and support from Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.), are making another attempt, introducing a bill that would prohibit the government from garnishing borrowers’ Social Security disability and retirement checks to pay for defaulted student loans.
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