This generation has a huge and growing student debt burden. It’s not who you think

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A recent analysis of American debt revealed a startling shift: Borrowers between the ages of 45 and 74 now owe more money in education-related debt, on average, than do younger college graduates.

People under age 35 with student debt owe $32,900 on average, according to data from the Fed’s 2016 Survey of Consumer Finances. That debt number is higher for every other 10-year age bracket up to age 75: It peaks at $37,000 for 45- to 54-year-olds, but even 65- to 74-year-old borrowers owe an average $35,400.

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