Before you decide to sign or co-sign for the loan, be sure you understand the risks

In line with the customer Financial Protection Bureau (CFPB), the true wide range of education loan borrowers age 60 and older climbed at the very least 20% between 2012 and 2017. Additionally, significantly more than 75% of states saw at the very least a 50% uptick in outstanding education loan financial obligation. Taken together, those two numbers recommend a annoying trend that could suggest financial difficulty for millions of older Us citizens into the years ahead.

Key Takeaways

• The sheer number of US education loan borrowers over age 60 is regarding the increase.
• Many older people who have pupil debt took down or co-signed loans for people except that on their own, typically a young child or grandchild. [Weiterlesen…]