One in six American adults are still paying off student loans, according to a just-released survey by FindLaw.com.
The survey of 1,000 American adults who are not currently enrolled in school found 31% took out student loans. More than half (53%) of them are still paying off those loans, including two-thirds between the ages of 24 and 44. While the percentages drop as people get older, one in five people age 55 and older (21%) who took out student loans still owe money.
Most of these adults owe less than $25,000, with only 7% of them having outstanding balances of $50,000 or more. Seventeen percent of those polled said they still owe money on student loans taken out to help with their post-secondary education.