Unpaid Student Loans May Impoverish Older Americans

Though a small percentage of older Americans carry student loans, those who do are incurring this debt faster, have a higher default rate and, as a result, can find themselves living in poverty in retirement, according to a new report from the U.S. Government Accountability Office. While older citizens are more burdened by mortgages, auto loans and credit-card debt, student loans among this age group are a growing concern. And unlike young borrowers who have many working years ahead of them to repay, older …

More Than One in 10 Older Adults Are Poor

More than 10 million Americans age 50 and older  – one in 10 - lived in poverty last year, about the same as in 2010, according t0 new Census data released Wednesday. Older adults fared slightly better than working-age people. Here’s how those figures broke down: About 6.5 million people 50 to 64, or 11 percent, remained in poverty last year. Among people 65 and older, 3.6 million were officially considered poor, a rate of about 9 percent. Hiring was weak …