Social-Security Questions & Answers

Articles on Social Security
Social Security Forms
Search This Site
What is Social Security?
Is there a Department of Social Security? Dept. of Soc. Sec.
How do I get a Social Security number? Or  a Social Security Card
Replace my Social Security card?
Where are Social Security offices?
What is Medicare?
What is SSI?
What is the Social Security Law?
Original Law passed 8/14/1935
At what age can I retire?
How much can I get?
How much can I earn while on Social Security?
How many years do I have to work to be able to qualify?
What if I am disabled?
Requirements? How to apply?
When I die what benefits can
my spouse get?
Learn about the online W2 form
How can I build a nest egg?
Will I be abandoned by the government and left homeless to starve and die in the street?

My student loan hasn't been paid in years...

by roger chartier

The Social-Security Administration will get you years later... Are you defaulted?

Roger Chartier -author of

For those of you who have defaulted on payment of your student loans many years ago and thought that you had gotten away with it, here is the surprise.

 When you try to collect your social security at retirement they can and will take a percentage away from you to pay the student loan.

 The Social Security Administration were collecting from more than 155,000 Americans in the year 2013.


In the year 2014

The number of social security payments that were garnished had increased as it has for the past several years. In the year 2006 it was only 47,000 people who were affected.

That is a big problem for those who can barely get by

For those folks who barely can live on the meager amount of medicine, food, shelter and clothes that they can afford on social security this is a disaster.

In 2013 the government took $150,000,000 from it's citizens for repayment.

The interest rates

Add up each year and the total sum owed by those who have defaulted for many years leaves them in for a terrible shock. They often had no idea that the amount of money owed had risen.

If you signed for a childs student loan and now they haven't paid you the burden is on you and although you may be 90 years old they are taking a large chunk of money from your meager payment each month.

The group known as American Student Assistance has worked with more than a thousand Americans to help with the toll their wage garnishment has taken on their lives.

You can be paying when you are very, very old.

The typical rate of payment for someone who has a social security payment to them each month of $1,000 is $150.00 or 15% of the Social Security payment.

If the student loan had a 7% or and 8% interest rate and you haven't paid in many years, think of the amount now owed.

The good news for some folks who have defaulted, is that if you only have social security, or a very low income, then you might be able to get away with not re-paying the loan.

This is kept quiet about as far the Social Security Administration is concerned, but it is true. Most people don't know this. Social Security is not considered income in some situations.

All federal student loans can be repayed based on your income.

There is some paperwork for you to submit to the loan company, sometimes it is a form.

If your income as shown on your taxes is lower than the amount of $11,671.00 then you have an Adjusted Gross Income that is low enough and don't have to pay as long as you do the paperwork.

If you file singly it can be better for you.

There are several more things that can be done to stay away from a total payback or even a partial payback if you are in the right position.

Here is a quote from concerning this fiasco:

"Banks and other financial creditors can't touch your Social Security benefits, but when the government is collecting on a debt, those funds are fair game."

Good Luck

copyright ┬ę since 2011    -   disclaimer