3 million Americans over 60 are paying off billions in student loans – Business Insider
More than 3 million Americans aged 60 and older owe more than $86 billion in unpaid student loans.
Many older Americans are now turning to their Social Security benefits to pay student debt, CBS News reported.
Student debt has been at the forefront of 2020 presidential campaigns, with Sen. Elizabeth Warren proposing canceling up to $50,000 in student-loan debt for 42 million Americans last month.
It’s not just young people paying off college debt — senior citizens say they’re still paying off student loans they took out for school decades ago.
More than 3 million Americans aged 60 and older currently owe more than $86 billion in unpaid student loans, according to Consumer Financial Protection Bureau (CFPB) data seen by CBS News. Recent data available online from 2017 showed the number was $66.7 billion two years ago.