Liberal Forum

An increasing number of older Americans are retiring with student loan debt, either from their own education or loans taken out for their children. If you still have student loans upon retirement, your Social Security benefits could be affected, but only under specific conditions.

"Specifically, if you have federal student loan debt and are in default, the government can withhold a portion of your Social Security benefits to repay the loan," says Brian Safdari, founder and CEO of College Planning Experts. This process is known as 'Social Security offset.'

Student debts can take away your Social Security benefits

Now that's a kicker isn't it!  I think the Federal Government needs to get out of the loan business, since the students don't want to pay the loan back. Banks don't lend money unless they have co-signers for the loans, like mom and dad. Guess what, people (taxpayers along with banks want their money BACK! Why should my tax dollars provide a cushy job for you and you not wanting to pay it back. Others worked two jobs to save for this costly college for their kids, and they are supposed to pay for you because you don't want to pay back your loan. No Way!
 
 

MR-7 » 06 Jul 2025, 6:11 am » wrote: ↑

06 Jul 2025, 6:11 am

An increasing number of older Americans are retiring with student loan debt, either from their own education or loans taken out for their children. If you still have student loans upon retirement, your Social Security benefits could be affected, but only under specific conditions.

"Specifically, if you have federal student loan debt and are in default, the government can withhold a portion of your Social Security benefits to repay the loan," says Brian Safdari, founder and CEO of College Planning Experts. This process is known as 'Social Security offset.'

Student debts can take away your Social Security benefits

Now that's a kicker isn't it!  I think the Federal Government needs to get out of the loan business, since the students don't want to pay the loan back. Banks don't lend money unless they have co-signers for the loans, like mom and dad. Guess what, people (taxpayers along with banks want their money BACK! Why should my tax dollars provide a cushy job for you and you not wanting to pay it back. Others worked two jobs to save for this costly college for their kids, and they are supposed to pay for you because you don't want to pay back your loan. No Way!

There's definitely something wrong with that picture...

kids or not, co-signing's a risky biznezz...
 

MR-7 » 06 Jul 2025, 6:11 am » wrote: ↑

06 Jul 2025, 6:11 am

An increasing number of older Americans are retiring with student loan debt, either from their own education or loans taken out for their children. If you still have student loans upon retirement, your Social Security benefits could be affected, but only under specific conditions.

"Specifically, if you have federal student loan debt and are in default, the government can withhold a portion of your Social Security benefits to repay the loan," says Brian Safdari, founder and CEO of College Planning Experts. This process is known as 'Social Security offset.'

Student debts can take away your Social Security benefits

Now that's a kicker isn't it!  I think the Federal Government needs to get out of the loan business, since the students don't want to pay the loan back. Banks don't lend money unless they have co-signers for the loans, like mom and dad. Guess what, people (taxpayers along with banks want their money BACK! Why should my tax dollars provide a cushy job for you and you not wanting to pay it back. Others worked two jobs to save for this costly college for their kids, and they are supposed to pay for you because you don't want to pay back your loan. No Way!

All I can say is if we have people taking student debt to the grave America really is a nation of dumb phoolks.  Sad..

It's because we (the government) have decided that they shouldn't have to pay if it's "hard".

I barrowed money and went back to school later in life when I already had a family. Long story short I ended up divorced and a single custodial parent who's ex-wife never paid a Nickle.

I could tell you all about being broke and living hand to mouth (for years) but I'll just tell you that they came after me for that student loan money with a vengeance. I actually did get some temporary relief from making payments but they charged me interest the whole time so it just sucked me in deeper.

In time, as I got more settled in my new career, worked my way up some and my income increased I got it all paid and everything worked out. I paid every cent and a bunch more in crazy high interest. There wasn't any of these loan forgiveness deals they have now.

You apply and ask for a loan, Pay it back you scumbag. It would be like a gambler to take a loan and make a bet and lose, then not pay it back because he lost.

MR-7 » 06 Jul 2025, 6:11 am » wrote: ↑

06 Jul 2025, 6:11 am

An increasing number of older Americans are retiring with student loan debt, either from their own education or loans taken out for their children. If you still have student loans upon retirement, your Social Security benefits could be affected, but only under specific conditions.

"Specifically, if you have federal student loan debt and are in default, the government can withhold a portion of your Social Security benefits to repay the loan," says Brian Safdari, founder and CEO of College Planning Experts. This process is known as 'Social Security offset.'

Student debts can take away your Social Security benefits

Now that's a kicker isn't it!  I think the Federal Government needs to get out of the loan business, since the students don't want to pay the loan back. Banks don't lend money unless they have co-signers for the loans, like mom and dad. Guess what, people (taxpayers along with banks want their money BACK! Why should my tax dollars provide a cushy job for you and you not wanting to pay it back. Others worked two jobs to save for this costly college for their kids, and they are supposed to pay for you because you don't want to pay back your loan. No Way!

I recently started a thread relating to student loans. Government loans don't make a lot of sense. We pay taxes, then the government uses those taxes, that we already paid, to loan it out back to us with interest. So, we are not just paying taxes, we are also paying the interest on top of our own money. 

Vegas » 06 Jul 2025, 11:58 am » wrote: ↑

06 Jul 2025, 11:58 am

I recently started a thread relating to student loans. Government loans don't make a lot of sense. We pay taxes, then the government uses those taxes, that we already paid, to loan it out back to us with interest. So, we are not just paying taxes, we are also paying the interest on top of our own money.

Yes, the gov should not be in the student loan business. I got my bachelor's degree in the military.

$250 per credit hour

The average cost for a bachelor's degree in the military is covered by the military. Schools often set tuition at or below $250 per credit hour, allowing them to advertise programs as “fully covered by TA.” The military will pay the full tuition cost of each class, up to $250 per credit and $4,500 per fiscal year per student1
 
 

I married $42k in student loans after she had been paying on them for 12 years.
Thankfully her degree eventually paid enough to pay them off.

Co-sign? **** that!

How many people take out loans, go to college 2 or 3 years and quit? They still have to pay the loan off.

Fuelman » 06 Jul 2025, 5:46 pm » wrote: ↑

06 Jul 2025, 5:46 pm

I married $42k in student loans after she had been paying on them for 12 years.
Thankfully her degree eventually paid enough to pay them off.

Co-sign? **** that!

That's the intent in the first place.
If you borrow money to get an education, it better pay you back.

$100K for Women's Studies is for people NOT borrowing money...

JohnnyYou » 06 Jul 2025, 6:27 am » wrote: ↑

06 Jul 2025, 6:27 am

All I can say is if we have people taking student debt to the grave America really is a nation of dumb phoolks.  Sad..

Yep, they call them Democrats. 
 

DeezerShoove » 06 Jul 2025, 8:24 pm » wrote: ↑

06 Jul 2025, 8:24 pm

That's the intent in the first place.
If you borrow money to get an education, it better pay you back.

$100K for Women's Studies is for people NOT borrowing money...

It took some time. Her first job out of college (1992) with a Masters Degree only paid $27k in the Montana school district. She moved into management with in a few years and jumped up to $40k. That company restructured and her position was eliminated. She moved to New Mexico and was making $50-55k. We hooked up and I drug her to Southern California. Didn't take long for the 6 digit income to land. 20 years in California and Oregon treated us pretty well. West Coast wages make a pretty good living compared to fly over country.

Relocating made a big difference.
 

Pay em off!

Fuelman » 07 Jul 2025, 8:47 am » wrote: ↑

07 Jul 2025, 8:47 am

It took some time. Her first job out of college (1992) with a Masters Degree only paid $27k in the Montana school district. She moved into management with in a few years and jumped up to $40k. That company restructured and her position was eliminated. She moved to New Mexico and was making $50-55k. We hooked up and I drug her to Southern California. Didn't take long for the 6 digit income to land. 20 years in California and Oregon treated us pretty well. West Coast wages make a pretty good living compared to fly over country.

Relocating made a big difference.

I try to tell that to starter-outers:
Save ten percent (at least) of whatever you make.
If you're in an expensive area now, that ten percent saved may double in value if you move later.

Simple **** logic and why people move to Costa Rica late in life.