Report: Those 50 and Over Hold Almost 20 Percent of All Outstanding Student Loan Debt
Posted Jul 11, 2012 2:16 PM CST
By Martha Neil
In news that likely won't come as a surprise to a number of law graduates, a Barclays report released Wednesday found that those over 50 hold nearly 20 percent of all outstanding student loan balances and account for an even higher percentage of past-due debt.
Those between 50 and 59 are responsible for 15.5 percent of the nation's student loan balances. And those 60 and over hold 4.2 percent, with average debt exceeding $18,000, the Chicago Tribune reports.
Past-due balances held by those age groups account for 16.9 percent and 4.8 percent of the overall pool, respectively.
Earlier ABAJournal.com posts detail the issues faced by a number of law graduates: