It "Haunts My Life": Americans Over-60 Owe $86 Billion In Student Loan Debt They Can't Discharge In Bankruptcy
A generation of Americans over 60 years old owe $86 billion in student loan debt, according to a new write-up by the Wall Street Journal. This stunning sum is comprised not only of older people who took out loans for their children, but also some who took out loans for themselves during the last recession, under the guise that it would bolster their employment prospects.
About 93% of all new private student loan money to undergrads during the current academic year included parent or adult signatures, which is up from 74% in 2008. Federal loans account for more than 90% of student debt, but the private market for these loans is also growing.
According to the report, borrowers in their 60s owed an average of $33,800 in 2017, which is up 44% from 2010. Total student loan debt was up 161% for people aged 60 and older in the seven years preceding 2017. This was the biggest increase for any age group over that span of time.
The result has been the monetary suffocation of a generation. Some people are even having their Social Security checks garnished. The federal government, who also happens to be the largest student loan lender, garnished the Social Security benefits or tax refunds of more than 40,000 people aged 65 or older in 2015 because of defaulting on student loan debt. That figure is up an astounding 362% from the decade prior.
Yes you can but you have to be inventive to do it. I barrowed enough when remodeling my home to pay off my student loan, then 3 month later I filed Bankruptcy and dumped it all, almost $200,000.00!!!
@ February 10, 2019 at 8:51 AM. Illegals are not the only ones getting free college tuition. These people who borrowed money to go to college are the same ones who are paying the tuition for the freeloaders. They pay for theirs and the freeloaders too. And the freeloaders only go for the parties and most do nothing with their Affirmative Action diplomas. Some take jobs in what they supposedly studied for and have no idea what the hell they are doing. Such as, the worse nurses I have ever dealt with were black. Sorry, but it's the Gods truth.
NO MORE $$$$$
ReplyDeleteYes you can but you have to be inventive to do it. I barrowed enough when remodeling my home to pay off my student loan, then 3 month later I filed Bankruptcy and dumped it all, almost $200,000.00!!!
ReplyDeleteYou signed on the dotted line. Cry to someone else, losers.
ReplyDelete9:16
ReplyDeleteYou "barrowed" ?
Maybe you should get your money back for a defective education.
But we are giving illegals free college tuition j. God save us!
ReplyDelete@ February 10, 2019 at 8:51 AM. Illegals are not the only ones getting free college tuition. These people who borrowed money to go to college are the same ones who are paying the tuition for the freeloaders. They pay for theirs and the freeloaders too. And the freeloaders only go for the parties and most do nothing with their Affirmative Action diplomas. Some take jobs in what they supposedly studied for and have no idea what the hell they are doing. Such as, the worse nurses I have ever dealt with were black. Sorry, but it's the Gods truth.
ReplyDelete