Top Pro & Con Arguments

Con

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. [51] Of the 6.9 million borrowers, 24.7% were more than 90 days delinquent in payments. [51] Almost 119,000 of older borrowers in default were having a portion of their Social Security payments garnished by the US government in 2012. [52]

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