We don’t often think of seniors and student loans in the same conversation.
However, more older Americans than you might think have this type of debt. Specifically, adults over 60 carry about $125 billion in student loans. This is six times the total debt amount for this age group from just two decades ago.
In some cases, this debt was carried throughout life after deferred loans piled up with interest and fees. There’s also the fact that some people go back to school later in life, either to switch fields or complete graduate programs.
As if the financial strain of these debts wasn’t enough, there’s an additional problem. The costs could cause the loan holders to have their Social Security benefits garnished or withheld. There’s a movement among legislators to act on this problem. What do you think the solution is? Should outstanding loan balances stand in the way of retirement? Share your thoughts.
Help The Seniors Center Protect the Future of Social Security
The Seniors Center is committed to finding solutions to strengthen and protect the Social Security Trust Fund. Social Security is a contract between citizens and the government. Money deposited in the Trust Fund should only be used to pay benefits to eligible recipients.
The Seniors Center is demanding Congress finally put a stop to the careless borrowing and spending by greedy politicians that has put our Trust Fund and our secure retirement in jeopardy.
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today! And follow The Seniors Center on Twitter and Facebook for more updates!
