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Sanders Seeks To Block Social Security Garnishment For Student Debt

by News Editor

August 19, 2026

Sen. Bernie Sanders has proposed legislation that would prevent the federal government from withholding Social Security benefits from older Americans and people with disabilities to repay defaulted federal student loans.

Sanders announced the Stop Social Security Garnishment Act on Monday. The bill is backed by Democratic Sens. Elizabeth Warren and Ed Markey and is expected to be formally introduced when the Senate returns next month.

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Millions Of Borrowers Are In Default

Nearly 9.5 million federal student loan borrowers were in default as of March, according to an Associated Press analysis of federal data. Sanders said nearly one in four borrowers cannot repay their loans and could face wage or Social Security garnishment.

Around 9.6 million borrowers aged 50 and older hold nearly $457 billion in outstanding student debt, according to Education Department data.

Collections Remain Paused

The proposal comes as the Trump administration has paused involuntary collections from borrowers in default.

In June 2025, the administration said it would not reduce Social Security benefits for affected borrowers, reversing an earlier plan to resume collections after pandemic-era protections ended. In January, the Education Department also announced a delay in wage garnishment and other involuntary collections while new repayment options were being implemented.

Borrowers in default have meanwhile been given more time to rehabilitate their loans and return to repayment.

What Sanders’ Bill Would Change

If passed, the legislation would prohibit the government from garnishing Social Security retirement and disability benefits to repay federal student loans. The measure would also protect older borrowers from forced collections that could affect their ability to pay for healthcare, medicine and other basic needs.

“In the richest country in the history of the world, no senior should have their Social Security payments taken away from them to pay back student debt,” Sanders said.

The proposal would not erase student debt, but would prevent Social Security benefits from being used to collect it.

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One In Three Cypriots Open To Using Digital Euro

by News Editor

August 19, 2026

Around one in three Cypriots say they would use the digital euro in their daily lives, despite limited awareness of the new form of money, according to the first islandwide survey published by the Central Bank of Cyprus.

With the first issuance currently expected in 2029, the findings suggest that public education will be crucial, particularly among people who rely more heavily on cash or have less experience with digital tools.

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Awareness Remains Low

Some 61% of respondents say they have no knowledge of the digital euro, while just 1% consider themselves fully informed.

Awareness is higher among people under 65, those with tertiary education and employed respondents. Among those who have heard of the digital euro, awareness is also more common among men, higher-income and more highly educated people, as well as urban residents.

Social media is the leading source of information, cited by 49% of respondents, followed by television at 30%.

35% Would Use The Digital Euro

Despite the knowledge gap, 35% say they are willing to use the digital euro in their daily lives. This is particularly true among people under 45, employed respondents and those with higher education and incomes.

Among potential users, 41% would use it for purchases in physical shops, 40% for online shopping and 33% for person-to-person payments.

By comparison, 28% say they are somewhat or very unlikely to use the digital euro.

Privacy And Cash Are Main Concerns

The biggest concerns are the possibility of transactions being tracked and fears that cash could eventually be abolished, cited by 53% of respondents.

Another 38% are concerned about security, while 25% worry about managing their spending. Some 30% have significant concerns about the ease of using the digital euro.

For businesses, 9% say their willingness to accept digital euro payments would depend on factors such as cost, ease of implementation and demand, while 27% say they would not accept such payments.