CFPB flags mounting student loan debt for older borrowers

The Consumer Financial Protection Bureau (CFPB) this month highlighted the rise in student loan debt for consumers over the age of 60, while the percentage of borrowers with at least $20,000 has doubled from 15 years ago to 40%.

  • By Sasha Padbidri
  • 21 Aug 2017
In a report released on August 18, the CFPB noted that the number of older borrowers increased by at least 20% in every state. Total student loan debt for borrowers aged 60 and above in California remains the highest at $11.24bn, up from $6.97bn in 2012. Debt levels ...

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