Does Student Loan Debt Affect Social Security Benefits?
Yes, it can. According to a recent report by the Government Accountability Office (GAO), there was a five-fold increase between 2002 and 2013 in the number of Social Security beneficiaries whose benefits were offset to help pay down their student loan debt. But there’s hope for some of those beneficiaries whose benefits have been garnished for that reason. If a debtor is found to be Totally and Permanently Disabled (TPD), he or she may be eligible for debt forgiveness. While a TPD determination is different than a Social Security Administration (SSA) disability finding, the Department of Education will accept a… Learn More