Should I Just Wait for My Social Security Income to be Garnished for the Student Loans? – Mari

“Dear Steve,

I am 69 years old and live on Social Security. I returned to school 2 years ago and recently graduated with an Associates of Science degree. I have difficulty in finding a job in my field which is Early Childhood Education. Additionally, I have arthritis on my left hip and my left knee and leg pain terribly to walk.I am exploring a work at home situation of about 25 hours per week.

Can I arrange repayment of my school loans to be deducted from my Social Security income? Or should I simply wait for my income to be garnished? What percentage is garnished and/or what percentage of my SS income would I be required to repay the loan. Can I request a deferment on my loan? Thank you.

Mari”

Dear Mari,

I need to know more about your student loans first. Are these loans private or government backed student loans?

Please post your responses and follow-up messages to me on this in the comments section below.

Steve Rhode Debt Coach and Author

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

See Full Bio

Consumer Debt Consumer Bankruptcy How to Get out of Debt Money Troubles Money Personalities Budgeting Behavioral Economics Motivation Inspiration Money Management The History of Credit and Debt Getting Out of Debt Get Out of Debt Debt Settlement Credit Counseling Loan & Debt Relief Scams Debt Relief Industry Practices Exposing Deceptive Financial Services Helping Consumers Navigate Financial Hardship Consumer Advocacy Consumer Debt Expert Consumer Protection Debt Relief Scam Student Loan Bankruptcy Debt Validation Debt and Mental Health Student Loans Debt Consolidation Debt in the Military