Digging Deeper into Debt
Americans of nearly every socioeconomic background are burdened with student loans
An 80-year-old woman reached out to The Institute of Student Loan Advisors after she discovered her Social Security was being garnished for a $60,000 Parent Plus loan she had taken out 30 years prior for her child who had promised to pay it back but never did.
Betsy Mayotte, founder of The Institute of Student Loan Advisors, or TISLA, and a 25-year veteran of the student loan industry, suggested she apply for total and permanent disability because she was too frail to work. The loan was eventually discharged.
“The fastest growing population of people struggling with student debt are over the age of 65,” said Mayotte. “A lot of policymakers are...
