Average Illinois resident age 50 or older has roughly $48K in student loan debt: study
SPRINGFIELD, Ill. - When we think about the finances of older Americans, a couple of words that often come to mind are investments and retirement.
But, a new study found that older Americans are also struggling with student debt.
In fact, the average Illinois resident, 50 or older, has about $48,000 of student debt.
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Illinois ranks 8th in the nation for student debt struggles among older Americans, with 6.7 percent of the population still making payments for their education.
After a pandemic pause, federal student loan payments are scheduled to resume in May.