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US3 million senior citizens in the US are still paying off their student loans

04:35  04 may  2019
04:35  04 may  2019 Source:   msn.com

Elizabeth Warren Wants to Cancel Student Loans. Critics Wonder if That’s the Right Solution.

Elizabeth Warren Wants to Cancel Student Loans. Critics Wonder if That’s the Right Solution. Senator Elizabeth Warren this week laid out one of the most ambitious plans yet, promising free public college and debt clearance for the majority of student loan holders. 

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 billion in unpaid student loans , according to Consumer Financial

Americans aged 60 and older owe more than billion in unpaid student loans , according to Consumer Financial Protection Bureau I wonder how many seniors (and others) are still paying off their hearing aids (since good hearing aids are almost as expensive as college was back in the day).

3 million senior citizens in the US are still paying off their student loans© CBS News
  • 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.
  • Visit INSIDER's homepage for more stories.

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.

Don’t Bail Colleges Out Of The Student Loan Mess They’ve Made

Don’t Bail Colleges Out Of The Student Loan Mess They’ve Made This exploitative system should not be bailed out by boondoggles such as Democratic presidential candidate Elizabeth Warren’s plans for free college and student loan bailouts. Her proposal is a naked effort to revive her failing presidential campaign by buying off middle-class voters with subsidies. It is a policy rife with moral hazard that rewards irresponsible lending and borrowing, and will further inflate tuition. It is regressive insofar as it will be deficit-funded—and it will be. The notion that it will be funded by a tax on the very rich is laughable.

"Because of student loans we are literally driving tens of thousands of older Americans into poverty". She still owes nearly ,000. Galante is one of more than 3 million people over 60 still paying off college loans . Like her, many went back to improve their job prospects, while others are

https://www.businessinsider.com/americans-over-60- paying - student - loans -2019-5. Love Imgur?

Many older Americans are now reportedly turning to their Social Security benefits to pay student debt.

Seraphina Galante, a 76-year-old who received her master's degree from San Diego State University 19 years ago, told CBS News that she still owes nearly $40,000.

"I was very confident that ... I would pay it back, you know, in due time," Galante said. "We grow older and then we get more senior. That's reality of life."

Read more: Elizabeth Warren just unveiled a plan to make public colleges free for all Americans

Galante works part-time as a caregiving consultant and makes a $176 student loan payment monthly. The payment does not cover the interest on the loan.

"I don't see the justice or even the logic. It's not gonna reduce, ever. And the emotional part of it that it's there. That it's always gonna be there," Galante told CBS News.

Chinese family paid admission scheme’s mastermind $6.5 million for a spot at Stanford

Chinese family paid admission scheme’s mastermind $6.5 million for a spot at Stanford The family of a Chinese student admitted to Stanford paid $6.5 million to the consultant at the heart of the college admissions scandal, whom they met through a Morgan Stanley financial advisor, people familiar with the matter said. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

For federal student loans , the standard repayment plan expects borrowers to pay off their debt in less than 10 years. Data collected at the state level supports these findings. A study from the OneWisconsin Institute finds that it takes graduates of Wisconsin universities 19.7 years to pay off a

3 Million Americans Over 60 Are Stuck With Student Loans . In all, we owe .6 trillion on these loans . Millennials find student debt disheartening--and many are holding off buying homes or starting families People who are still struggling with student debt in their 60s got there one of three ways.

Seth Frotman, a student debt expert, told CBS News that the government will seize Social Security benefits to pay loans, something that is "driving tens of thousands of older Americans into poverty."

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.

"We got into this crisis because state governments and the federal government decided that ...  they'd rather cut taxes for billionaires and giant corporations and offload the cost of higher education onto students and their families," Warren wrote in a blog post last month, adding, "It's time to end that experiment."

A new INSIDER poll released Friday found that a big majority - 77% - of likely Democratic primary voters support Warren's plan, and 36% said they strongly support it. Overall, 57% of Americans polled said they at least somewhat support Warren's plan, while 21% at least somewhat oppose it.

Covington Catholic High student Nick Sandmann sues NBC for $275M

Covington Catholic High student Nick Sandmann sues NBC for $275M Covington Catholic High School student Nicholas Sandmann is suing NBCUniversal for a whopping $275 million over the media coverage he received earlier this year, his lawyer said Wednesday.

The United States of America. Welcome to f/ USA ! The goal of this sub is to create a place where links and articles related to the United States can be posted, and help to draw away from the US -centric nature of social media and the internet.

3 million senior citizens in the US are still paying off their student loans . How to get health insurance to pay for doctors, dentists, and emergencies. businessinsider.com.

  • Read more:
  • Democratic presidential candidate Andrew Yang supports forgiving most student loan debt but stops short of advocating for free college
  • Millennials are $1 trillion in debt - more than any other generation in history
  • How combining finances is helping this couple pay off nearly $300,000 in debt
Read More

Student on bus shoots video of driver; man now faces 15 child sex charges.
A man was arrested Friday after a student on a school bus returning from a field trip recorded the man masturbating in his car that was pulled up next to the bus, deputies said. Students from E.A. Laney High School in Wilmington were returning from the field trip Tuesday when a car driven by Hampton Wright Lane pulled up next to the bus, according to New Hanover County sheriff’s Lt. Jerry Brewer. Students said Lane had a towel over his lap and was masturbating, and one student recorded the incident with a cellphone, Brewer said. The student turned over the video to deputies, and a warrant was issued for Lane’s arrest. Lane was taken into custody after a traffic stop Friday.

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