Saturday, September 20, 2014

Senior (Citizen) Student Debt Rising - Michael Stratford, Inside Higher Ed

The number of Americans who are nearing or past retirement age and still have student loan debt has ballooned in recent years, as has the amount of money the government is seizing from their Social Security checks to recoup defaulted federal loans, Congressional researchers have found. More than 700,000 households headed by Americans 65 or older now carry student debt, according to a report released Wednesday by the U.S. Government Accountability Office. And the amount of debt owed by borrowers 65 and older jumped from $2.8 billion in 2005 to $18.2 billion last year. https://www.insidehighered.com/news/2014/09/11/student-debt-increasingly-trails-americans-retirement-us-report-says