Older Individuals Might Surprise You with Their Delinquent Student Loan Status
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Turns out, one in four student loan borrowers is struggling to keep up with their payments – that's nearly a whopping 25%! That's according to the latest report from the Federal Reserve Bank of NY. So, who's having the most trouble? Well, the average late payer is two years older than before the pandemic hit.
Guess who's more likely to fall behind? You got it – the older guys. You know, the ones over 40 are likelier to miss their payments compared to those who are, ahem, younger and spryer.
So, if you're thinking the average age of delinquent borrowers hasn't changed much, you're wrong. It's actually climbed from 38.6 pre-pandemic to a staggering 40.4 in 2025. To top it off, only the young whippersnappers under 30 were bucking this trend before the pandemic – guess they're doing something right!
But why are things getting elderly-er? Well, one possible culprit is Parent PLUS Loans. These puppies allow parents to take out loans for their little darlings to attend college. And what do you know, the total amount of these loans has skyrocketed over the past decade by an insane 66%!
Now, if you're wondering why that matters, take a look at the folks taking out these loans – they're usually pretty old, like a lot older than your average student. So, when they default, it's really jacking up the average age of delinquent borrowers.
To wrap things up, it's clear that student loan delinquency is no longer just a young adult problem. It's now affecting a wider age range, especially those oh-so-exasperating over-40 bunch. That means more financial and credit woes for older peeps – bummer. But hey, stay positive. Sometimes life throws us curveballs, but with the right moves, you can still ace it.
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- As the average age of delinquent student loan borrowers has risen, there's increased concern about personal-finance issues among the older generation.
- To help those grappling with finance-related problems, consider learning more about education-and-self-development resources designed to manage personal-finance situations, such as ico and traditional finance.
- With a solid understanding of these concepts, you can token your future securities by making informed decisions about your personal-finance and retirement planning.
