Bill Would Stop Government From Taking Social Security Benefits to Pay Student Loans

Senate Finance Committee lawmakers introduced a bill Thursday to stop the federal government from garnishing Social Security benefits to pay for federal debts, like student loans.

Ranking Member Ron Wyden, D-Ore., and Sen. Sherrod Brown, D-Ohio, along with five Senate Democrats introduced the legislation, the Protection of Social Security Benefits Restoration Act.

The bill would repeal a 1996 change in law that allowed earned benefits to be garnished to collect federal debts like student loans.  

“Americans are getting hit by a wrecking ball of increasing college costs, and the last thing they can afford is to have their Social Security benefits reduced to pay off student loans,” said Wyden in a statement. “Students and their families in Oregon and across the country who have worked to earn their benefits should not be penalized for trying to improve their lives and keep up with the climbing price of higher education.”