I cosigned for several college loans for my children and they have not paid anything on them. I am paying one of many and living on social security. I have read the government can garnish my social security. Is this true?

Hi,

Yes, Social Security benefits can potentially be partially offset to collect unpaid federal student loans. However, the offset amount can't exceed 15% of a person's Social Security benefit rate, and can't cause a person's Social Security monthly benefit amount to be reduced below $750.

Best, Jerry