More than three million people over the age of 60 still struggling to pay off student loan debts: report

Millions of Americans over the age of 60 are still struggling to pay their student loan debt, according to CBS News
The news outlet cited data obtained from the Consumer Financial Protection Bureau which said there are more than three million student loan debtors over the age of 60 in the United States. Together, those borrowers account for more than $86 billion of outstanding student loan debt in the country.
Seraphina Galante, 76, told CBS News in an interview that she currently owes close to $40,000 in outstanding student loan debt since obtaining a degree from San Diego State University almost two decades ago.
"I was very confident that ... I would pay it back, you know, in due time. We grow older and then we get more senior. That's reality of life," 76-year-old told CBS News.
Galante told the publication she has had to pause her monthly loan payments, which currently amount to $176 per month, on multiple occasions due to personal issues.
"I don't see the justice or even the logic. It's not gonna reduce, ever," she told the outlet.
"And the emotional part of it that it's there. That it's always gonna be there," said.
Galante told CBS News she believes her debt "will follow me to the grave."
Minnesota Rep. Ilhan Omar (D) commented on Galante's story over Twitter on Thursday.
"Student debt impacts students of all ages," Omar wrote. "We must eliminate the need to borrow for college."

Last year, a Bloomberg analysis found that outstanding student loan debt in country hit a record high of almost $1.5 trillion in November.
More than three million people over the age of 60 still struggling to pay off student loan debts: report More than three million people over the age of 60 still struggling to pay off student loan debts: report Reviewed by STATION GOSSIP on 09:23 Rating: 5

4 comments:

  1. That idiot woman went to college at age 54....what the hell did she expect would happen....that her college loan would magically go away? Typical stupid college idiot. The good news is that the $176 per month will be taken from her Social Security monthly check....so she doesn't have to worry about paying it back....she just needs to learn to eat cans of cat food...... The govt DOES take away your SSR money. They are the only ones who can touch it..... no debt collectors can touch SSR or your bank account where it is deposited into...but the Govt CAN and WILL take it from you!!!! Nice to know this....maybe 74 year old college moron never thought this through properly...... The govt does not care about "personal issues".....they want their cold, hard CASH paid back.....

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  2. Johnny....most idiots are not that savvy do educate themselves....they think that going to college and sitting there memorizing stupid shit is the way to educate themselves....then 20 minutes later all that pricey crap just dribbles out their ears and they retain NOTHING...!!!!

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  3. They shoulda listened to Frank Zappa when he said, forget school, go to the Library and educate yourself.
    It's even easier now with the biggest Library ever, the Internet.

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  4. This is what happens when you have a Private Central bank. The Banksters are the worst of society. They prey on people any way they can. I don't know the details of her loan but I'm guessing that after 20 years she has paid it back in full plus some but the compounded interest is what she is still paying off and the interest is the way the banksters enslave people and governments. Usury used to be illegal and for a very good reason.

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