Older Americans Are on the Front Line of the Student Debt Crisis
Published Date: 6/17/2021
Source: Bloomberg Quicktake: Now
The fastest-growing chunk of the U.S.’s $1.7 trillion student-loan pile is the one held by the oldest borrowers. There are now about 8.7 million Americans aged over 50 who are still paying off college loans, and their debt has increased by about half since 2017. Some took out loans to help their children, and could be well into their 90s before they’re done repaying. Others went back to school later in life. In both cases, borrowers got saddled with hefty interest rates that inflated their balance. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake