Government Attaching Social Secuirty Checks For Unpaid Student Loans

If you're about to hit retirement age, you might want to pay off those old student loans. SmartMoney.com is reporting that "thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits."

According to figures obtained from the Treasury Department, the federal government took a bite out of the Social Security checks of 115,000 retirees over the last eight months.

The amount of the money the government may withhold varies but SmartMoney.com claims the attachment can go as high as 15%. Also, just in case you're thinking that only the money you may owe on student loans can be touched, think again. If you are listed as a guarantor on the kiddies' student loans, Uncle Sam may be coming after you.