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Default on Federal Student Loans and the Government Can Take Up to 15% of Your Social Security Check

Source: 247wallst.com

Credit & Bond MarketsConsumer Demand & Retail
Default on Federal Student Loans and the Government Can Take Up to 15% of Your Social Security Check

The article warns that carrying federal student loan debt into retirement can materially affect monthly income beyond a credit-score impact. It highlights that older borrowers may be unaware of how broadly the government can reach into retirement earnings, suggesting increased financial risk for this segment.

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