Tag: student debt
Abstract While the magnitude of student debt held by those over 65 is not large, both the share of households holding such debt and the mean amount have risen rapidly since 1990. Defaults on student loans have similarly been rising among older debt holders. One distinct feature of federal student loans is that federal payments…
For half to two-thirds of the college loans made over the past decade, the former students owe more than they initially borrowed. This is the result of a federal program that bases monthly student loan payments on the borrowers’ income if they aren’t earning enough to afford the standard payments. But the monthly payments in…
