Saturday, December 31, 2011

In Last Three Years, Student Debt Of Middle-Age Americans Grew By Nearly 50 Percent

Middle aged people return to school
An analysis by Reuters finds that “middle-aged borrowers are piling up student debt faster than any other age group,” with debt for those aged 35-49 increasing by nearly 50 percent in the last three years. 

The reason for this debt explosion is that “the tough economy has pushed people to seek mid-career training,” while more people are attending for-profit colleges, which push students to pile up larger debt loads. (HT: Jordan Weissmann)

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