10-18-2006, 06:39 PM
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 Re: Student loan default HW "Skip" Weldon wrote: - quote - > Retired person drawing state pension and social security. They have
The collection of defaulted government student loans from the SS> large student loan. > I seem to recall a court test recently whereby if defaulted, student > loan folks could take up to 15% of Social Security benefits. But > recovery is capped at that amount and nothing can be taken from other > resources (bank accounts, a pension, etc.). > Not sure about this. Does anyone know more about it? > -HW "Skip" Weldon > Columbia, SC benefits is authorized in the "Debt Collection Improvement Act" -- I'm not familiar enough with it to confirm or deny the 15% cap on the collections. Google that Act for details. There was a federal case "Lockhart v. US" that may or may not be relevant -- again, google for details. |
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10-18-2006, 03:35 PM
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| Student loan default Retired person drawing state pension and social security. They have large student loan. I seem to recall a court test recently whereby if defaulted, student loan folks could take up to 15% of Social Security benefits. But recovery is capped at that amount and nothing can be taken from other resources (bank accounts, a pension, etc.). Not sure about this. Does anyone know more about it? -HW "Skip" Weldon Columbia, SC |
| Tags |
| default, loan, student |
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