National / International News

Rising numbers of seniors are paying off student loans

Marketplace - American Public Media - Tue, 2014-09-16 02:00

According to a new report from the Government Accountability Office, between 2004 and 2010 the number of seniors with student loan debt quadrupled to 706,000 households.

Betsy Mayotte is the director of regulatory compliance with American Student Assistance, a non-profit that helps families manage education debt. She says she's starting to see a fairly significant increase in older borrowers reaching out for help. 

Take one borrower she heard from recently: "He's 77, his wife 82," says Mayotte. "They both have age typical health concerns, they’re not going to work again and they owe a significant amount in student debt — both their own and debt they took on for their children — and they don’t know how they’re going to pay for it."

It's not what many expect, says Persis Yu, a staff attorney with the National Consumer Law Center's student loan borrower assistance project.

“Older Americans have a lot more student loan debt than people realize,” she says.

Federal student loans, notes Yu, never go away. They have no statute of limitations.

“So, if a borrower doesn’t finish paying off a loan, they could be on the hook for the rest of their life,” she says.

Yu says if a senior defaults on a loan, their social security benefits could be garnished. The GAO says when that happens, additional fees can be involved making it even harder to pay off the loan.

Police to probe actress handcuffing

BBC - Tue, 2014-09-16 01:57
Police in Los Angeles are conducting an internal investigation over accusations officers violated a US actress's rights by handcuffing and detaining her.

Ukraine and EU to ratify key pact

BBC - Tue, 2014-09-16 01:57
Ukrainian MPs and the European Parliament are set to ratify a key EU association pact criticised by Russia.

VIDEO: Further cut to sugar intake needed

BBC - Tue, 2014-09-16 01:54
Targets to reduce sugar consumption should be much more ambitious, health experts say.

Fog delays flights at UK airports

BBC - Tue, 2014-09-16 01:50
Heavy fog causes a number of flights at London City and Aberdeen airports to be delayed or cancelled.

VIDEO: The evolution of smart watches

BBC - Tue, 2014-09-16 01:41
A new range of smart watches are coming but will they have the right features to tempt consumers?

Radisson halts Vikings sponsorship

BBC - Tue, 2014-09-16 01:36
Hotel chain Radisson suspends its sponsorship of NFL team Minnesota Vikings after one of their players was charged with child abuse.

VIDEO: Professor Green: 'Good and bad days'

BBC - Tue, 2014-09-16 01:32
Professor Green spoke to BBC Breakfast about his new single Lullaby.

Car crashes into train at crossing

BBC - Tue, 2014-09-16 01:15
A driver escapes injury after her car collides with a train on a level crossing in Berkshire.

With Debt Collection, Your Bank Account Could Be At Risk

NPR News - Tue, 2014-09-16 01:03

A 1968 federal law allows debt collectors not only to garnish wages but to take from a debtor's bank account. Consumer advocates say the outdated law is overly punitive and out of touch with reality.

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Viewpoint: Why Islamic State will not endure

BBC - Tue, 2014-09-16 01:00
Why Islamic State will not endure

'Stupid' injury nearly cost Franklin

BBC - Tue, 2014-09-16 00:48
Britain's Mallory Franklin will race at the Canoe Slalom World Championships despite a freak injury in training.

Village could become centre of UK

BBC - Tue, 2014-09-16 00:36
A village in Shropshire would become the exact centre of the UK if Scotland became independent, Ordnance Survey calculates.

Ebola: Virus posing a deadly threat

BBC - Tue, 2014-09-16 00:29
More action is needed to tackle Ebola, say experts

Cat Stevens to play US concerts

BBC - Tue, 2014-09-16 00:25
Cat Stevens - also known as Yusuf Islam - is to perform a series of dates in the US for the first time since 1976.

Early exit for Watson at Korea Open

BBC - Tue, 2014-09-16 00:15
British number one Heather Watson is knocked out of the first round of the Korea Open by American qualifier Nichole Gibbs.

VIDEO: Cancer teen's mum: 'He touched so many'

BBC - Tue, 2014-09-16 00:08
Stephen Sutton's mother Jane pays tribute to her son as someone who ''lived life to the full'', as plans are revealed for spending the money he raised in aid of the Teenage Cancer Trust.

Stephen's £5m to fund cancer units

BBC - Tue, 2014-09-16 00:08
Plans for spending almost £5m raised by teenage cancer patient Stephen Sutton are revealed.

Community Keeps Calm Despite Questions About Wal-Mart Shooting

NPR News - Tue, 2014-09-16 00:06

Peaceful protests have taken place since police shot and killed a black 21-year-old who was holding a toy gun while shopping in Ohio. But new questions are being raised about the handling of the case.

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