I’m 57 and owe $152,000 in student loans

Debt

Rosemary Anderson, 57, is on the hook for $152,000 in student loans she took out 20 years ago.

The divorced mother of two grown daughters represents a growing number of older Americans with student debt.

The 50-and-over crowd makes up 17% of $1.2 trillion in outstanding student loan debt — a 30% increase since 2005, according to the Federal Reserve Bank of New York.

Anderson’s loans financed her own education. However, one of the main reasons for the big increase is because more parents have taken out loans to finance their children’s college education.

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