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In the past two decades, the number of adults age 60 or older with student loan debt has grown six-fold, and the amount of debt they carry has multiplied nearly 20 times.
Some of these older adults took out debt to help family members attend college, but most are still in debt from their own education. Many have very low incomes, and their financial struggles are greater than their counterparts who never attended college.
A new fact sheet from the National Consumer Law Center and New America Foundation examines the challenge and provides policy solutions to help protect the financial security of older adults with student loan debt.