By Lauren Linder
Student debt continues to be a problem among recent graduates, but they're not the only generation struggling with college loan payments. Over the years, the government has pushed for more people to get into higher education, but with that comes increasing costs for families, and as the years go by that means more parents, who are still paying off their own loans, are sinking into deeper debt.
School loans are now spanning multiple generations within families in increasing numbers.
"The people who are having children now of college age are the generation of students who started to have to borrow more money to help finance their own educations or complete their educations," University of Wisconsin System Board of Regents member, Mark Bradley said.
School loans for Americans over 40 years of age now account for more than 35 percent of education debt, a 10 percent increase from 2004, according to the New York Federal Reserve.
STORY and VIDEO
Skip to main content
