Comment on Elderly Student Loan Borrowers Seek Relief

Elderly Student Loan Borrowers Seek Relief

Washington Post: “In the waning days of the Biden administration, activists are urging the Education Department to discharge the student debt of older borrowers who they say are in no position to repay. They say the department could use a little-known federal statute that considers a person’s ability to pay within a reasonable time and the inability of the government to collect the debt in full.” “There are 2.8 million federal student loan borrowers aged 62 and older with a total of $121.5 billion in debt, more than 726,300 of them over the age of 71, according to the Education Department.”

 

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