Top Pro & Con Arguments
Student debt overwhelms many seniors.
Whether they co-signed for a child or grandchild’s education, or took out loans for their own educations, in 2012 there were 6.9 million student loan borrowers aged 50 and over who collectively owed $155 billion with individual average balances between $19,521 and $23,820.Of the 6.9 million borrowers, 24.7% were more than 90 days delinquent in payments. Almost 119,000 of older borrowers in default were having a portion of their Social Security payments garnished by the US government in 2012. Read More