Student-loan debt hurts some North Jerseyans nearing retirement
JULY 6, 2014, 9:27 PM LAST UPDATED: SUNDAY, JULY 6, 2014, 9:31 PM
BY PATRICIA ALEX
STAFF WRITER
THE RECORD
Lingering student-loan debt — which in recent years has been a drag on the economy as borrowers delay big-ticket purchases such as homes and cars — is now beginning to affect millions as they head toward retirement.
More than 16 percent of the nearly $1.2 trillion in outstanding student-loan debt in the nation is held by people over 50, according to the New York Federal Reserve Bank. In New Jersey, the median balance of those loans is more than $16,000.
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Ok, don’t borrow what you can’t pay back. That $5,000 from 1970 should have been dealt with years ago.
Do not sign up for a credit card, mortgage, car loan or student loan if you do not understand your obligations.
Pay your debts then they will leave you alone. No sympathy.
That moron shouldn’t take a loan that he can’t pay back..oh wait, he’s waiting for ‘Dear Leader’ to forgive the loan and blame the bank.
One thing is clear, he didn’t learn much using the money. what a dope!