[Indydealmaker]

Originally Posted by KeepingItReal

According to the GAO in this link below (if you believe them) 80% of the student loans owed by elders was for their own education.

Student loans appear to be at the bottom on the priority list for payments, doubt many of these that still owe their student loans ever failed to pay their cable TV and I Phone bills. They knew that their service would be turned off immediately and there would be costs to turn them back on. Many chose to borrow more money than was really needed and used it for trips, cars, and most anything else they wanted so it is not really all educational expenses. Endless deferrals just makes people think they can just put them off until a better time which never comes and then they are in big trouble.

The GAO found that about 80 percent of the student loan debt by seniors was for their own education, while the rest was taken out for their children or other dependents. It said federal data showed that seniors were more likely to default on loans for themselves compared with those they took out for their children.

More seniors on hook for student loans - CBS News

This is a very sad commentary on our generation. 30 to 40 years of unpaid loans?? Although I am sure that there are special circumstances for some, but $14B worth!