Social Security and Student Loan Impact Quiz

What are the two main reasons for the changes in Social Security checks discussed in the video?

• Pension plans and retirement age

• Healthcare costs and tax reforms

• Student loan debt and overpayments

• Inflation and unemployment

How much can the Treasury Offset Program legally take from your Social Security check if you're in default on a federal student loan?

• 25%

• 15%

• 10%

• 50%

What is the minimum amount the government will leave you with after garnishing your Social Security check for student loan debt?

• $1200

• $500

• $750

• $1000

What is a 'clawback' in the context of Social Security?

• A penalty for early retirement

• An increase in monthly benefits

• A repayment of overpaid benefits

• A reduction in benefits due to inflation

How much of your Social Security check can be withheld due to overpayments?

• 10%

• 25%

• 75%

• 50%

What makes Chapter different from other Medicare plan services?

• They charge a fee for consultations

• They only work with specific insurance companies

• Their advisors are salaried and independent

• They offer the cheapest plans

What should you do if you're in default on a student loan?

• Reach out to your loan servicer

• File for bankruptcy

• Ignore the notices

• Wait for the government to contact you

What is one of the first steps to take if you receive a notice of Social Security overpayment?

• Request a waiver

• Ignore the notice

• Contact a lawyer

• Pay the full amount immediately

Why is it important to check your Social Security and student loan status regularly?

• To increase your credit score

• To ensure you receive the maximum benefits

• To avoid unexpected garnishments

• To qualify for additional benefits

What should you do if you suspect an error in your Social Security benefits?

• Contact your bank

• Ignore the error

• File an appeal

• Wait for the SSA to contact you