Student debt is a baby boomer problem, too

The Dirty Little Secret About baby boomer debt Many Americans in their 50s and 60s are saddled with steep credit card bills and loan payments, endangering their retirement By Richard Eisenberg.

Total baby boomer student debt: $2,489,550,000 With a median debt amount per borrower totaling just $11,833, North Carolina is one of the few states that actually saw improvement on its overall.

The Student Loan Debt Crisis Isn’t Just A Problem For Millennials The student loan debt crisis has hit the baby boom generation. Roughly 4% of Americans between ages 65 to 74 carried federal student loan debt in 2010. This figure is up from 3% in 2004 according to a report by the Governmental Accountability Office.

The need for higher education is greater than ever – even as it’s increasingly unaffordable Millennials who get only a high-school diploma earn far less than their counterparts in the Gen X and baby.

It’s not just a millennial problem. Student loan debt increased eightfold among Americans aged 60-64 in the last decade. Is anyone paying attention?

Student debt is a baby boomer problem, too. Student loans are almost impossible to discharge, even if a borrower files for personal bankruptcy. If a retiree (or any borrower) has not paid a federal student loan for 425 days or more, the Department of Education can begin collection proceedings.

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Baby boomers, born between 1946 and 1964, *owe a median balance of more than* $25,000 in non-mortgage debts, the report found.

Baby boomers are feeling the strain of student loan debt.. But the problem isn’t contained to the younger generation. According to a new white. PHILADELPHIA (CBS) – It’s been decades since college and still too many baby boomer are drowning in debt from a student loan. people 60 years and older are the fastest growing age group for.

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Data shows that members of this generation – people born in 1981 to 1997 – are saddled with student loan debt, delaying major milestones such as homeownership and less financially secure than their.

Student loan expert Mark Kantrowitz has come up with a formula to asses just how much student loan debt is too much.. The Consequences of Too Much student loan debt.. baby boomers are.

How the baby boomers – not millennials – screwed America. New. the so-called baby boomers, who actually ruined everything?. forcing middle-class students to bury themselves in debt in.

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