Marketplace Morning Report What it's like repaying student loans at 70
May 19, 2025
A 70-year-old woman shares her challenges with long-standing student loan debt, offering a glimpse into the financial struggles faced by older borrowers. The rising tide of debt yields is increasing borrowing costs for everyone, affecting mortgages and car loans alike. The discussion also touches on the implications of U.S. sovereign debt downgrades and their potential effects on everyday consumers. This exploration sheds light on the complexities of repayment plans and the legal hurdles that can complicate student loan reparation.
AI Snips
Chapters
Transcript
Episode notes
Rising Yields Tighten Consumer Credit
- Rising U.S. Treasury yields above 5% show fiscal limits and investor concern over federal deficits and policy risks.
- Higher yields lead to increased borrowing costs for consumers, impacting mortgages, car loans, and other debts.
Lorelei Taylor's Student Loan Story
- Lorelei Taylor is 70 and still paying off student loans taken decades ago despite making many payments.
- She worked varied jobs and returned to school in her 40s, using loans among other funds to pay for education.
Older Borrowers Carrying Long-Term Debt
- Number of student loan borrowers age 62 and older is rising sharply, many carrying old debt they struggle to repay.
- Older borrowers often took loans for their own education, not just for children.