Posted on 08/26/2025 9:25:01 AM PDT by SeekAndFind
More older student loan borrowers are struggling to pay their monthly bill, as the Trump administration ramps up its collection efforts.
Nearly 1 in 5 — or roughly 18% — of student loan borrowers who are 50 and older became “seriously delinquent,” or 90 days or more late on their payments, in the second quarter of 2025, according to the Federal Reserve Bank of New York. The rate for that age group was closer to 10% in 2019.
For comparison, closer to 8% of student loan borrowers between the ages of 18 and 29 became seriously delinquent during that time frame, and around 11% of those aged 30 to 39 did.
“Being delinquent on student loan debt is difficult for people who are approaching their retirement years,” said Lori Trawinski, director of finance and employment at AARP.
“People end up having to make extremely difficult choices,” Trawinski said.
Some of the repayment troubles may stem from older Americans borrowing more than they can afford for their children’s college education, experts say. Other people run into financial difficulties after returning to school later in life and then not accessing the career opportunities they’d hoped for.
Whatever the reason, falling behind on your education debt may quickly have more financial consequences.
Earlier this summer, the Trump administration announced that it would soon resume collection activity against student loan borrowers who aren’t making their payments. This comes after a nearly five-year period during which student loan holders were shielded from the consequences of missing their bills, a policy that began at the start of the Covid-19 pandemic.
Here’s what older borrowers in the red need to know.
(Excerpt) Read more at cnbc.com ...
“”””Nearly 1 in 5 — or roughly 18% — of student loan borrowers who are 50 and older became “seriously delinquent,”””””
Over 50 and can’t pay off a loan you got 30 years ago???
Sum Ting Wong.
I think it was one big con job peddling loans to all these suckers. They should have become educated prior to applying for loans so they’d know they where being hustled.
No one gets a loan out of ignorance
“Over 50 and can’t pay off a loan you got 30 years ago???”
“Sum Ting Wong”
Read the whole OP.
“Over 50 and can’t pay off a loan you got 30 years ago???”
“Sum Ting Wong”
Read the whole OP.
Oh sure, you bet. I bet all of them read all 102 pages of legalese when applying for those student loans.
Oh sure, you bet. I bet all of them read all 102 pages of legalese when applying for those student loans.
Pretty soon, he'll be able to garnish their social security checks.
They filled it out and signed it to get the loan. It didn’t just show up in their account.
We need to quit labeling bad decisions as “mistakes”.
“””Read the whole OP.”””””””””
We don’t do that here. The headline and maybe a sentence or two is all that is allowed.
Someone should have told these 50+ year olds that maybe getting that art history masters at an Ivy League school thirty years ago wasn’t such a great idea. They thought they would end up getting high paying jobs as museum curators or land a job as an art buyer for Sotheby’s only to end up as a barista at Starbucks or a low paid professor at a junior college.
You’re the only one that said, “Mistake”. Like most greedy lenders, they’re a con job. Sure, the suckers should know better, but they’re suckers and the lending institutions know it! This is not complex.
“”””maybe getting that art history masters at an Ivy League school thirty years ago wasn’t such a great idea”””
A friend of mine had a son who got a degree in art history.
I never said anything, just made fun of him internally. I ran into him a few years later and found out his son had gone on to get a masters in art history so he hopefully could get a job teaching other ignorant kids.
I think the greedy people who the ones taking out loans that they didn’t think they would have to pay back. The lenders did not initiate the loans. The borrowers asked for the loan.
??? 50+ years old and still paying student loans? Good God! Whatever these people learned in college it certainly wasn’t fiscal responsibility. I paid mine off before I was 30.
Aggressive Garnishment is the solution.
No quarter.
lol...Of course lenders advertise...peddling loan advertisements are everywhere. This is nothing new. Stop pretending these fat bloated lenders are all well meaning and innocent. They've been peddling loans before you were born.
I'm betting these same people were seriously delinquent in Biden's last few years too...
“lol...Of course lenders advertise...peddling loan advertisements are everywhere. This is nothing new. Stop pretending these fat bloated lenders are all well meaning and innocent. They’ve been peddling loans before you were born.”
Capitalism bad.
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