Are Guarantees of Student Loans Changing The Retirement Landscape?
If you think student loan debt is a problem for the younger generation, think again. According to the Consumer Financial Protection Bureau (CFPB), about 2.8 million people age 60 and older have outstanding student loans – four times the number in 2005. Most of the current student-loan debts of people 60-plus were incurred paying for college for a child or grandchild, and in the past decade, for the 60 to 64 age group, student-loan debt has increased eight-fold – to $38 billi