, student loan debt among consumers in this age group has increased 71.5% over the last five years. This means that, as of the last number-crunching session, seniors ages 60 to 69 owe $85.4 billion in student debt altogether.
Of course, sometimes seniors are left holding the bag when their child or grandchild decides to go to school. This may mean they co-signed on a private student loan for a loved one they wanted to help with college, but it can also mean they took outIt’s easy to believe senior student loan debt must not be a problem, but this couldn’t be further from the truth. As a, seniors can see their Social Security benefits garnished at a rate of 15% to pay off student loans in default.
This means senior citizens have many of the same options as their younger counterparts when it comes to dealing with student loan debt — they just have a lot less time to figure out a plan.like Pay As You Earn , Revised Pay As You Earn , Income Contingent Repayment , and Income Based Repayment let you pay a percentage of your “discretionary” income for up to 25 years before having your loan balances forgiven.
Student loans aren't something that retirees want to still think about especially when living off of a fixed income. However, a reverse mortgage can bring a lot of hope to this situation - can give you extra monthly income and help pay off student debt! ReverseMortgage
This is modern day slavery.
why not focus on why higher education costs are rising faster than the rate of inflation
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Soon more borrowers will be able to use vacation days to pay off student-loan debtTrading in your vacation days to pay your student loans? That's about to become reality for more people: Peak millenialism at its finest NO Talk about a scam
Source: MarketWatch - 🏆 3. / 97 Read more »
Billionaire pledges to pay off student loan debt for Morehouse College class of 2019Robert F. Smith surprised the nearly 400 graduates of the historically black, all-male college during his commencement address. What a nice thing to do. It would be nice if bill gates would follow his lead This is PHENOMENAL!! Good for those young men. Damn wish someone paid my college off for me
Source: USATODAY - 🏆 100. / 63 Read more »
Before the billionaire’s student-loan gift, this student had to leave Morehouse due to financial pressuresMorehouse grads had their lives changed by one billionaire's pledge to wipe out their loans. His stunning gift came too late for this student: The compulsion to shit on good things that you all apparently suffer from is incredible.
Source: MarketWatch - 🏆 3. / 97 Read more »
Elizabeth Warren calls Navient ‘scammers’ after student loan giant celebrates making the Fortune 500The company is facing multiple lawsuits from the CFPB and states attorneys general. Coming from Fauxcahontas, that's rich. What about the higher education 'scammers' who grossly overprice their product?
Source: MarketWatch - 🏆 3. / 97 Read more »
U.S. is stepping up enforcement of delinquent student loansThe U.S. collected $3.3 billion of delinquent student debt in the first half of this fiscal year. That's up from $2.9 billion in the full year before. He’s not rich. He owes up to his eyeballs. Irony of student loan collection is colleges withhold your diploma until you pay the loan, but lack of a diploma keeps you from earning enough to pay it. Best case if you are delinquent in your payments, go to your U.S. attorneys office, and negotiate smaller payments with them. And they wonder why nobody wants to bear any children
Source: latimes - 🏆 11. / 82 Read more »
Education Department hinders policing of student loans, consumer agency saysThe head of the CFPB says the Education Department is standing in the way of information that regulators need to oversee the nation’s largest student loan servicing companies Oh I bet. Selling promises to kids just to follow the rules and still not find gainful employment. Damn student debt 3 times higher than our income. And standing in the way is exactly what Devos intends to continue doing. SOUNDS LIKE DEMOCRATS GETTING THE WAY AGAIN
Source: politico - 🏆 381. / 59 Read more »
A Gift to Morehouse Class of 2019: Your Student Loans Are GoneThe keynote speaker for Morehouse College’s commencement ceremony on Sunday caused elation when he made a stunning announcement: The billionaire would pay off the college debt of every graduate in the class. Wow, that’s an honorable gesture. That’s what a winner looks like. LoserTrump
Source: WSJ - 🏆 98. / 63 Read more »