Education Debt Held by Older Americans

"Recently released federal data show that 17 percent of federal student debt holders are over the age of 50. This group of older borrowers collectively hold $247 billion in student debt, an amount that has roughly tripled since 2003," Inside Higher Ed reports. 

"Likewise, a 2016 report from the U.S. Government Accountability Office provoked alarm for showing that the federal government is withholding a portion of Social Security benefits from a growing number of older Americans to cover defaulted student loan debt.

Amid this context, the Urban Institute on Thursday released an analysis of federal survey data on older student debt holders. The group found that 3.5 percent of Americans over 50 hold student debt for their own education, compared to roughly 8 percent with debt for their children or grandchildren."

NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 11/17/2017


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