Expand / Collapse search
☰

Average Illinois resident age 50 or older has roughly $48K in student loan debt: study

By FOX 32 News
Published  March 16, 2022 5:54pm CDT
Illinois
FOX 32 Chicago

Older Americans struggle most with student debt

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.

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.

DOWNLOAD THE FOX 32 CHICAGO APP FOR BREAKING NEWS ALERTS

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.