$18.1 Billion in Senior Student Loans

Up until 1996, social security checks were entirely protected from any kind of garnishment. Then, Congress carved out an exception for student loan debt. With 706,000 homes headed by a senior citizen, aged 65 or over, that is still carrying student loan debt (and a whopping $18.1 billion in total), it’s worth keeping in mind that if you fall behind on those payments, your social security check is not immune. Aside from the best advice — keep up on your payments — it may also be worth reaching out to your representatives. Senator Claire McCaskill (D-Missouri) is leading up an effort to review the current rules.

U.S. Treasury Check