Student Loan Debt Increases Among Boomers

Student loan debt has increased eightfold for Americans ages 60 to 64, with a default rate of 12.6%—higher than the default rate for borrowers under age 40. Whether they’re taking out loans for their kids or for their own advanced degrees, Boomers are proving that student debt isn’t just a problem for Millennials.

—Federal Reserve Bank of New York