Older people are giving up hope of paying off their student loans before they die: 'There's a real fear in dying in this'
"Student debt isn't just crushing young people: 6.3 million borrowers ages 50 to 64 and nearly a million people over 65 are still paying for a loved one's education or their own," Sen. Elizabeth Warren of Massachusetts told Insider."Student debt is also one of the biggest contributors to the rise in the amount of debt seniors hold overall.
Navarro said she initially attempted to pay off her loans in monthly amounts she could afford, but as the bills grew, she went into forbearance. She later learned that her salary was being garnished, and now she is on an income-driven repayment plan, which sets her monthly payment based on income. "It's a corrupt lending system that has been allowed to cause unbearable agony and suffering," Navarro said."It's enough. I want my life back.", Jeff Courtney, a former JPMorgan executive, found that for over three decades, the government had been making the student-loan system look profitable when in reality more and more borrowers were going into default.
Warren and Schumer's CNBC op-ed said that the student-debt crisis was effectively punishing people pursuing higher education.
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