UW Retirement Association

Student Debt: What are the Intergenerational Challenges?

Friday, October 18
10:30 am – 12:00 noon
Odegaard Undergraduate Library Room 220

Register today!

Federal student loans are the only consumer debt segment with continuous cumulative growth since the Great Recession. As the cost of tuition and borrowing continue to rise, the result is a widening default crisis that even Fed Chairman Jerome Powell labeled as a cause for concern. All told, there’s a whopping $1.4 trillion in federal student loans out there (through the second quarter of 2018), marking the second largest household debt segment in the country, after mortgages.

Federal student loan debt currently has the highest 90+ day delinquency rate of all household debt. More than 1 in 10 borrowers is at least 90 days delinquent. And the problem does not just affect young adults. Student loan debt is, increasingly,  a growing problem for seniors. The fastest growing age segment of student loan borrowers are those 60 and older, and nearly 40% of student loan borrowers 65 and older were in default on student debt in 2015. The loans are both public and private, and about three-quarters were taken to finance a child’s or grandchild’s college education as a borrower or co-signer.  The remaining portion were used for the education of the borrower or his or her spouse. Forty thousand seniors had their Social Security benefits cut in 2015 to repay a federal student loan, up from just 8,700 10 years earlier, the CFPB reports.

Come explore the problem and some solutions with our expert panel:

Professor Emeritus William Zumeta, Evans School of Public Policy and Governance

Rachel Berkson, District Director, Office of Congresswoman Pramila Jayapal

Giuliana Conti, President, UW Graduate & Professional Student Senate

Moderator: Bob Roseth, retired, UW News & Information

This event is free. Please register via UWRA’s online calendar.