The total outstanding older adult student loan debt in 2013 was ______.

Question

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The total outstanding older adult loan debt grew to $18 billion in 2013, or 4% of households headed by people ages 65 to 75, up from less than $3 billion, and 1% of older households, in 2005. This debt and percentage will continue to soar if nothing is done. Twenty percent of these loans were co-signed for children going to college, 80% for one's own education. Modify the current failed student loan system with the following: (a) give low-income students a 5-year grace period; (b) allow loans at excessive interest rates (compared to current interest rates) to be refinanced; (c) limit loan payments to 10% of current income level; and (d) levy fines on for-profit educational institutions that market heavily in place of an adequate budget for classes, teachers, and material, or have low student graduation rates.

The Total Outstanding Older Adult Student Loan Debt in 2013