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Thursday, September 11, 2014

In The Last Decade, A 4 Fold Increase In The Number Of Seniors With Student Debt


"The percentage of households headed by someone 65 to 74 years old with student debt increased to 4 percent in 2010 from 1 percent in 2004, according to a study...by the Government Accountability Office. The GAO also found that in 2005, the outstanding federal student debt for this age group was about $2.8 billion; by last year, it had climbed to more than $18 billion....While student debt is not the prevailing type of debt among senior citizens — most common are mortgages and credit cards — about 706,000 households headed by someone 65 or older carry debt from their education. That’s 3 percent of households headed by someone in that age group." Samantha Ehlinger in McClatchy Newspapers.

Chart: 155,000 Americans had Social Security benefits cut because of student debt in 2013. Josh Mitchell in The Wall Street Journal



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