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Millions of seniors behind on student loans risk losing Social Security, lawmakers warn Biden

Posted on AllSides March 20th, 2024
From The Left
Illustration: Aïda Amer/Axios

Millions of older Americans are at risk of losing some of their Social Security benefits after defaulting on student loans, Democratic lawmakers said in a letter urging the Biden administration to act.

Why it matters: Seniors are one of the highest risk categories with reports showing nearly 40% of borrowers aged 65 or older in default. Federal programs that claw those funds back mean seniors lose as much as $2,500 in Social Security benefits annually.

Sens. Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.) and U.S. Reps. Ayanna Pressley (D-Mass.), Pramila Jayapal...

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