It may seem shocking, but almost 20% of U.S. student-loan debt is carried by people over the age of 50! Worse, the fastest growth in total balances has been for those over the age of 60. This article by CNBC covers three things you should consider if you’re carrying student-loan debt and are at or nearing retirement: don’t default!, look into income-driven payment plans, and consider debt consolidation. Remember, your student loans weren’t cleared out even if you had a bankruptcy, and they’re certainly not cleared out by retirement!
