It is the 18th of October 2019

News

Baby Boomers Increasingly Having Social Security Checks Garnished To Cover Student Loan Payments

According to a new report from the Government Accountability Office, the federal government is increasingly garnishing Social Security benefits to help cover student loans payments owed by baby boomers.  According the Wall Street Journal, a total of $1.1 billion has been garnished since 2001 with $171 million being collected in 2015 alone. 

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Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion

The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion.

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