Student Security Act Could be Congress’s Next Legislative Achievement

With an innovative, out-of-the-box idea, Rep. Tom Garrett (R-VA), who is still paying off student loan debt himself, has a solution to help fix these two problems: The Student Security Act.

The Student Security Act would allow those with student debt the choice to receive $550 in student loan debt relief for every one month that they delay receiving Social Security payments. A student could get the maximum amount of debt relief of $40,150, and they would need to delay benefits for six years and one month in order to receive that amount. A recent poll of millennials shows that many would go to extraordinary lengths in order to pay off their student debt, with half saying they would give up their right to vote, 27 percent saying they would move back in with their parents for five years, and 13.2 percent saying they would give up texting and mobiling messaging for a year.

With many students willing to go to drastic measures in order to get rid of their student debt, would it not make sense to give them the option to defer their Social Security benefits in order to pay off their student loans? ... READ MORE