06 May Retired, otherwise Wishing to Getting, and you will Stuck With Student loans
People in america over the age of 60 will be the quickest-increasing band of university financing debtors - a lot of the them borrowing from the bank for other individuals - a consumer agencies states.
When Patrick Donohue retired in may after a beneficial 20-12 months occupation within the customer care during the ATT, the guy and his awesome spouse, Kay, failed to celebrate. Rather, it debated more than hence pension solution are finest: obtaining a huge bit immediately otherwise scheduling brief monthly payments.
Involved is actually if the lump sum you are going to totally free him or her regarding spending next desire with the $97,932 it borrowed regarding the government so its five daughters you certainly will sit in university, or if this means sacrificing the a lot of time-title economic stability.