The Journal. Student-Loan Debt Is Strangling Gen X
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Oct 2, 2025 As Gen X nears retirement, they're grappling with significant student loan debt, a burden largely shaped by historical federal policies and rising tuition costs. Cultural pressure to attend college led many to borrow more, viewing loans as 'good' debt. Personal stories reveal the struggles with prolonged loan lifetimes and the consequences of poor guidance from loan servicers. With shifting policies and the influence of the pandemic, many now question the value of college, while advice for future generations encourages alternative paths and financial prudence.
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Chiropractor Rick Bettenker’s Lifelong Debt
- Rick Bettenker, 55, carried student debt for decades and expects to die with it.
- He reported a balance of about $306,000 and says he will never fully pay it off.
Gen X Holds The Largest Per-Borrower Debt
- Gen X now carries the highest average student-loan balance of any age group, nearing $50,000 for ages 50–61.
- Rising college costs and expanded loan access in the 1990s made debt pervasive for this generation.
Federal Policy Made College A Loan-Led Promise
- The Higher Education Act of 1965 expanded federal aid including loans and framed college as a path to upward mobility.
- Gen X were the first to test that promise as loans became widely available while college costs rose sharply.