Older student-loan borrowers are at risk of losing a chunk of their Social Security. There's a new bill to prevent that.

Why it matters

The proposed legislation to prevent Social Security garnishment for older student-loan borrowers addresses a notable regulatory risk affecting a specific borrower segment, with potential implications for credit risk and borrower financial health, but it is not yet a systemic or market-wide event.

Sources

• Business Insider

  Older student-loan borrowers are at risk of losing a chunk of their Social Security. There's a new bill to prevent that.

  Sen. Bernie Sanders is introducing a bill to stop student-loan borrowers who default from facing Social Security garnishment.