According to a report from the Federal Reserve Bank of New York, Americans over 60 years old have $36 billion of outstanding student loans.
To be fair, this total balance is not exclusively from loans that originated 30-plus years ago. Some of these adults took the loans out later on and some also cosigned for others’ loans.
Yet, in knowing that the Social Security wages of octogenerians are garnished to pay down student loan balances, are we now going to see ads that depict college administrators committing violent acts against senior citizens (similar to the save-Medicare one with the Paul Ryan impersonator)?
We’ll likely sooner see the Yankees have the lowest payroll in baseball.