You know the dangers before you sign or co-sign for a loan, make sure
Based on the customer Financial Protection Bureau (CFPB), the quantity of education loan borrowers age 60 and older climbed at the least 20% between 2012 and 2017. Additionally, significantly more than 75% of states saw at the least a 50% uptick in outstanding education loan financial obligation. Taken together, both of these numbers recommend a trend that is disturbing could suggest financial hardship for an incredible number of older People in the us within the years ahead.
- The sheer number of US education loan borrowers over age 60 is from the increase.
- Many older people who have student debt took away or loans that are co-signed individuals apart from on their own, typically a young child or grandchild.