A New Social Security Garnishment Is Set to Begin This Summer -- but There Are 2 Legal Ways Most Retirees Can Avoid It
President Donald Trump's administration is targeting an estimated 452,000 Social Security beneficiaries who are behind on their federal student loan payments.
For most retirees, Social Security isn't just income that's deposited into their checking or savings account on a monthly basis. It represents a financial lifeline that many would likely struggle to make do without.
In 2023, Social Security was responsible for lifting 22 million people above the federal poverty line, some 16.3 million of whom were adults aged 65 and above. Meanwhile, 23 years of annual surveys from national pollster Gallup find that up to 90% of retirees require their monthly benefit, to some degree, to make ends meet.
Getting as much out of Social Security isn't a luxury -- it's often a necessity.
