But, increasingly, older generations are affected, too. The percentage of families headed by someone 50 or older with student loan debt more than tripled between 1989 and 2016, from 3.1 percent to 9.6 percent, the AARP Public policy institute reports. Since 2004, student loan debt among those 60 and older has grown the fastest of any age group.

College education should be debt free. Financial burden often becomes a factor when otherwise-fit students choose to drop out, and the consequences of late payments or defaulting on loans can.

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But, like the roughly 37 million others in the U.S. saddled with $1 trillion in student debt, they may never catch up with wealthy peers who began life after college free from the burden. “We can’t.

Graduate student loan debt. About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees. combined undergraduate and graduate debt by degree: MBA = $42,000 (11% of graduate degrees) Master of Education = $50,879 (16%) Master of Science = $50,400 (18%) Master of Arts = $58,539.

“This is the first time we are seeing two sets of student debt in one generation,”. Fact is, Gen X has the lowest confidence they will be able to retire comfortably.. Learn how to find free money with scholarships and grants.

Elizabeth Warren's plan to forgive student-loan debt is costly, but it could. at least one major life milestone because of their student loan debt." Drew Angerer/ Getty Images. Warren's proposal is to lessen the burden on borrowers. Provide tuition-free public college to help future generations stave off.

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He scrounges for free food at campus events and occasionally skips meals. He’s stopped exercising and sleeps five to six hours per night so he can. "The debt burden is really heavy on them." Even.

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It's no wonder studies are showing that this generation of debtors is putting off. They describe feeling as though it was “free money,” and foolishly use. Truth be told, any student loan debt can seem massive and overwhelming.. since you won't be doing too much shopping with your huge debt burden.

But viewed in its totality, the post-debt cancellation world is considerably more egalitarian than the one we. generation of working-class college students. As Steinbaum writes: The reason for [the.