Lawmakers: Nix Social Security Offsets For Seniors In Student Loan Default

Offsetting Social Security benefits to pay for defaulted student loans can be devastating for some beneficiaries, lawmakers say.

Older woman looking at computer screen with head in hand
(Image credit: Getty Images)

A group of more than 30 U.S. lawmakers are calling for the Biden administration to end the practice of offsetting Social Security benefits to pay off the student loan defaults of seniors and people with disabilities.

The group — led by U.S. Senators Elizabeth Warren (D-MA) and Ron Wyden (D-Ore.) and U.S. Representatives Ayanna Pressley (D-MA), Pramila Jayapal (D-WA), Raúl Grijalva (D-AZ) and John Larson (D-CT) — said that social security beneficiaries can be pushed closer to, or even into, poverty by the practice, which undermines the mission of the Social Security Act.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.