While we don’t often think about Social Security benefits in the same conversation as student loans, there is a connection between the two.
This is because those who carry this type of debt until old age could have deductions made from their retirement benefits. Some may say this situation is unlikely — but don’t be so sure.
Students are carrying debt longer than ever these days. This is especially true for those who take out loans in their middle age to pursue advanced degrees.
While Student Loan Forgiveness efforts are pending legal approval, there are doubts about whether they’ll pass. If they don’t, many borrowers may be stuck with debt in a strained economy. If interest resumes, the debt could be even higher.
Do you have student debt? Do you feel you’ll pay it off before retirement? Share your thoughts with us. You can also find us on Facebook and Twitter.
