Student loan debt is threatening the financial security of an increasing number of older Americans. According to the Consumer Financial Protection Bureau (CFPB), the number of consumers age 60 and older with student loan debt has quadrupled over the last decade. Tragically, a large portion of older student loan borrowers struggle to afford basic needs. Older borrowers are more likely than those without outstanding student loans to report that they have skipped necessary health care needs such as prescription medicines, doctors’ visits, and dental care because they could not afford it.
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