Student loan debt harms retirement, says AARP
And lenders don’t hesitate to garnish Social Security checks to get back payments for student loans.
Consumer Financial Protection Bureau data says that Americans over 60 are the fastest-growing category of student loan borrowers and that they have “roughly quadrupled in number between 2005 and 2015.” (Photo: Getty)
AARP is wading into the fight over
student loans, taking up the cause in some state capitals to more tightly regulate abusive student loan collection practices.
Among its actions: battling the federal government over Social Security garnishment to collect on defaulted loans by older borrowers, and pursuing greater transparency in fees and tuition.
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