July 10, 2019
Student Loan Debt Is Crippling Too Many Families
Money borrowed while chasing a diploma also threatens to crush the financial security of millions of Americans over age 50. People 50+ make up 20 percent of Americans still paying for an education. Still, college is seen by many as an important goal. So, in some families, parents, grandparents and other relatives take on debt to help finance a family member’s education, either by taking out loans directly or cosigning loans.
The AARP Bulletin published an extensive report on student loan debt in March. It documented the hopelessness and despair many feel as they struggle to make payments. There are no simple solutions to this mess, which has accumulated over decades.
To learn more about this critical problem, read the PPI report at aarp.org/studentdebt.