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Earning a college degree is an investment in the future – one that has never been more important, or more expensive. Sometimes parents and grandparents want to chip in, so they co-sign large student loans.
Unfortunately, new graduates often struggle to find a job that pays enough to cover today’s rising rents along with massive monthly loan bills. And when students fall behind on loan payments, the federal government can garnish the earned Social Security benefits of co-signing family members.
It’s not right – taking money from Social Security to pay back student loans increases financial insecurity for already stressed families. Tell Congress: Stop garnishing Social Security benefits to pay back student loans!
Our college affordability problems, and the tough job market, shouldn’t fall on the shoulders of older Americans who are simply trying to help the next generation get ahead.