Alexandre Tanzi and Madison Paglia of Bloomberg News have made available for download their article, “Older Americans Are on the Front Line of the Student Debt Crisis” which discusses how borrowers are suffering from ballooning student loan balances late in life. The article begins as follows:
It’s hard enough to pay off college loans out of a salary. It doesn’t get any easier when you retire.
The fastest-growing chunk of the U.S.’s $1.7 trillion student-loan pile is the one held by the oldest borrowers. There are now about 8.7 million Americans aged over 50 who are still paying off college loans, and their debt has increased by about half since 2017.
To see the full article, click here: “Older Americans Are on the Front Line of the Student Debt Crisis”.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.