We all know the importance of saving for retirement. It’s really easy. Just set up an automatic withdrawal from each month’s paycheck and direct it into a retirement account. What becomes trickier is the amount we should be saving and how we should best invest it. A comprehensive plan helps in this area.
Compared to more recent grads, those over fifty have much higher default rates on their student loans.
The Department of Education and the Treasury work together to withhold a portion of one's Social Security retirement or disability benefit if one has defaulted on their federal student loans when they are collecting Social Security.