Student loan debt was never meant to last a lifetime or become a threat to retirement security. Yet today, borrowers frequently wind up carrying it into retirement, long beyond their working years.
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.
For college students like my son who rely on federal student loans to help finance their higher education, and for older workers who've returned to school in an effort to boost their job opportunities, these are anxious times.
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