Christine Farro, a 73-year-old retiree from California, has been forced to drastically cut her expenses, including minimizing gifts for her grandchildren and relying on thrift stores for clothing. After a five-year pause on student loan payments due to the pandemic, the Biden administration has resumed collections, affecting a vulnerable demographic: older Americans. Farro's loans, which date back 40 years, have ballooned to $250,000 from missed payments and high interest. As collections restart, she fears her Social Security may once again be garnished, severely impacting her limited budget.
Farro, who is 73, has made extensive cuts to her budget, relying on thrift store clothes and homegrown vegetables, yet faces renewed struggles with student loans.
The Department of Education is resuming collection on defaulted student loans, putting older Americans, like Christine Farro, at risk of Social Security garnishment.
Collection
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