Retirees Have a Surprising Amount of Unpaid Student Loans

Surprising, isn’t it? With student loan debts on the rise and an unsurprising outcry of many of today’s young college attendees, you may not have thought that seniors are also struggling with the same financial burdens. What’s more, they have even accumulated $67 billion in student loans since 2005. 

The reason behind this are two-fold. On one hand, this sort of debt is carried later into life, something that previous generations hadn’t been faced with. Secondly, a lot of kind-spirited seniors have opted to help students in their lives by paying for college. 

The percentage of seniors who do this isn’t too huge, as not many young adults turn to family for aid, but in cases in which it does happen, the amount of money is typically pretty high.