Many US citizens returned to college at an older age to better their chances of employment. Since the economic meltdown, many of these individuals have lost their savings, job, retirement funds, home, etc. Unlike younger members of society, these individuals do not have a lifetime to sort all of this out. Defaulting on student loan payments is not something they planned on doing but, when they need to choose between keeping a roof over their heads, paying the electric bill, etc. there is no money left to pay these loans. Adding insult to injury, even their meager Social Security benefits will be garnished. They can't repair their credit, nor can they buy a home to replace the one they lost. I believe as is usual, the elderly are being completely overlooked regarding Student Loan Default.



