More seniors on hook for student loans

http://www.cbsnews.com/news/more-seniors-on-hook-for-student-loans/

Like Anderson, a growing percentage of aging Americans struggle to pay back their student debt. Tens of thousands of them even see their Social Security benefits garnished when they cannot do so. A new analysis by the U.S. Government Accountability Office found that more than 700,000 families headed by someone 65 or older carries federal student loan debt.
Between 2004 and 2010, the share of older Americans with student loan obligations quadrupled, while the total amount owed also surged. Four percent of people ages 65 to 74 carried student loan debt, up from 1 percent six years earlier, according to the GAO report, which was released Wednesday at a Senate Aging Committee hearing. For all seniors, the collective amount of student loan debt grew from about $2.8 billion in 2005 to about $18.2 billion last year. Student debt for all ages totals $1 trillion.