1 00:00:02,035 --> 00:00:03,036 >> Reporter: NANCY KUKAY WORKS 2 00:00:03,036 --> 00:00:04,204 AT A COMMUNITY COLLEGE IN 3 00:00:04,204 --> 00:00:05,705 MARYLAND, COORDINATING TECHNICAL 4 00:00:05,705 --> 00:00:07,340 EDUCATION PROGRAMS. 5 00:00:07,340 --> 00:00:08,842 SHE'’’S WORKED IN EDUCATION MOST 6 00:00:08,842 --> 00:00:10,844 OF HER CAREER AND LOVES HER JOB. 7 00:00:10,844 --> 00:00:12,579 BUT AT 65 YEARS OLD, SHE HAD 8 00:00:12,579 --> 00:00:14,447 IMAGINED RETIRING BY NOW. 9 00:00:14,447 --> 00:00:16,750 >> I CAN'’’T AFFORD TO RETIRE. 10 00:00:16,750 --> 00:00:19,252 I COULD NEVER MAKE THE PAYMENTS. 11 00:00:19,252 --> 00:00:19,886 >> Reporter: PAYMENTS FOR 12 00:00:19,886 --> 00:00:21,521 STUDENT LOANS SHE TOOK OUT FOR 13 00:00:21,521 --> 00:00:23,156 HER SON ANDREW ABOUT A DECADE 14 00:00:23,156 --> 00:00:24,024 AGO. 15 00:00:24,024 --> 00:00:26,693 SHE PAYS AROUND $500 A MONTH ON 16 00:00:26,693 --> 00:00:28,962 THE NEARLY $75,000 SHE OWES ON 17 00:00:28,962 --> 00:00:30,930 LOANS SHE TOOK OUT, AND OTHERS 18 00:00:30,930 --> 00:00:32,999 SHE CO-SIGNED WITH HER SON. 19 00:00:32,999 --> 00:00:34,534 BY HER MATH, SHE'’’LL PROBABLY BE 20 00:00:34,534 --> 00:00:36,503 PAYING ON HER LOANS ALONE FOR 21 00:00:36,503 --> 00:00:38,138 ANOTHER 11 YEARS. 22 00:00:38,138 --> 00:00:39,606 >> EVEN IF I STARTED DRAWING ON 23 00:00:39,606 --> 00:00:41,808 MY RETIREMENT AND SOCIAL 24 00:00:41,808 --> 00:00:43,243 SECURITY TOGETHER, I STILL 25 00:00:43,243 --> 00:00:44,544 WOULDN'’’T HAVE ENOUGH MONTHLY TO 26 00:00:44,544 --> 00:00:45,879 MAKE THOSE PAYMENTS. 27 00:00:45,879 --> 00:00:48,882 IT'’’S CERTAINLY NOT WHERE I HOPED 28 00:00:48,882 --> 00:00:51,217 TO BE AT THIS STAGE IN LIFE. 29 00:00:51,217 --> 00:00:51,918 >> Reporter: THE NUMBER OF 30 00:00:51,918 --> 00:00:53,953 AMERICANS AGE 60 AND OLDER WITH 31 00:00:53,953 --> 00:00:55,822 STUDENT LOAN DEBT QUADRUPLED 32 00:00:55,822 --> 00:00:58,725 BETWEEN 2005 AND 2015 TO NEARLY 33 00:00:58,725 --> 00:01:00,160 THREE MILLION. 34 00:01:00,160 --> 00:01:01,494 AND THE AVERAGE AMOUNT THEY OWE 35 00:01:01,494 --> 00:01:03,229 HAS NEARLY DOUBLED, FROM ABOUT 36 00:01:03,229 --> 00:01:06,599 $12,000 TO ALMOST $24,000. 37 00:01:06,599 --> 00:01:07,600 >> THERE'’’S A NUMBER OF FACTORS 38 00:01:07,600 --> 00:01:09,069 THAT CONTRIBUTE TO WHY THE 39 00:01:09,069 --> 00:01:10,904 NUMBER OF OLDER BORROWERS IS 40 00:01:10,904 --> 00:01:11,971 INCREASING. 41 00:01:11,971 --> 00:01:13,306 >> Reporter: ATTORNEY PERSIS YU 42 00:01:13,306 --> 00:01:14,407 DIRECTS THE STUDENT LOAN 43 00:01:14,407 --> 00:01:16,242 BORROWER ASSISTANCE PROJECT AT 44 00:01:16,242 --> 00:01:17,777 THE NATIONAL CONSUMER LAW CENTER 45 00:01:17,777 --> 00:01:18,812 IN BOSTON. 46 00:01:18,812 --> 00:01:20,480 >> STUDENT LOANS ARE STRUCTURED 47 00:01:20,480 --> 00:01:21,781 TO BE PAID OVER A VERY LONG 48 00:01:21,781 --> 00:01:22,816 PERIOD OF TIME. 49 00:01:22,816 --> 00:01:23,917 THEY HAVE NO STATUTE OF 50 00:01:23,917 --> 00:01:25,151 LIMITATIONS, WHICH MEANS THAT 51 00:01:25,151 --> 00:01:26,086 THEY FOLLOW YOU. 52 00:01:26,086 --> 00:01:26,920 THEY CAN FOLLOW YOU TILL YOU 53 00:01:26,920 --> 00:01:29,589 DIE, LITERALLY. 54 00:01:29,589 --> 00:01:30,690 AND SO, THERE ARE A LOT OF 55 00:01:30,690 --> 00:01:31,958 BORROWERS WHO ARE OUT THERE WHO 56 00:01:31,958 --> 00:01:34,661 STILL HAVE THEIR OWN STUDENT 57 00:01:34,661 --> 00:01:36,262 LOAN DEBTS FROM THE '’’70s, FROM 58 00:01:36,262 --> 00:01:37,163 THE '’’80s. 59 00:01:37,163 --> 00:01:39,132 >> I THINK, ORIGINALLY, IT WAS, 60 00:01:39,132 --> 00:01:41,434 LIKE, $27,000. 61 00:01:41,434 --> 00:01:42,469 >> Reporter: 64-YEAR-OLD ANNETTE 62 00:01:42,469 --> 00:01:44,637 PELAEZ OF BOSTON IS STILL PAYING 63 00:01:44,637 --> 00:01:46,806 ABOUT $300 A MONTH FOR THE LOAN 64 00:01:46,806 --> 00:01:48,908 SHE TOOK OUT 20 YEARS AGO TO 65 00:01:48,908 --> 00:01:50,143 PURSUE GRADUATE DEGREES IN 66 00:01:50,143 --> 00:01:51,578 AMERICAN STUDIES, A LOAN SHE 67 00:01:51,578 --> 00:01:53,179 EXPECTS TO BE PAYING FOR ANOTHER 68 00:01:53,179 --> 00:01:54,447 TEN YEARS. 69 00:01:54,447 --> 00:01:55,882 SHE WORKED FOR NONPROFITS 70 00:01:55,882 --> 00:01:56,716 SERVING CHILDREN AND THE 71 00:01:56,716 --> 00:01:58,518 ELDERLY, BUT HER INCOME NEVER 72 00:01:58,518 --> 00:02:00,220 REACHED THE LEVEL SHE HAD HOPED. 73 00:02:00,220 --> 00:02:01,721 >> I'’’M MAKING NOW WHAT I MADE IN 74 00:02:01,721 --> 00:02:02,489 THE '’’80s. 75 00:02:02,489 --> 00:02:04,157 I'’’M MAKING ABOUT $42,000 A YEAR. 76 00:02:04,157 --> 00:02:04,858 >> Reporter: SO, WHEN YOU WENT 77 00:02:04,858 --> 00:02:06,359 BACK TO GRAD SCHOOL, YOU ASSUMED 78 00:02:06,359 --> 00:02:07,727 YOU'’’D BE MAKING A LOT MORE MONEY 79 00:02:07,727 --> 00:02:08,228 THAN THAT? 80 00:02:08,228 --> 00:02:08,695 >> OH, YES. 81 00:02:08,695 --> 00:02:09,395 ABSOLUTELY. 82 00:02:09,395 --> 00:02:10,964 I MEAN, IF I WAS MAKING THAT 83 00:02:10,964 --> 00:02:13,366 MONEY WITH A BACHELOR'’’S DEGREE 84 00:02:13,366 --> 00:02:15,235 IN THE '’’80s, I ASSUMED THAT, YOU 85 00:02:15,235 --> 00:02:17,237 KNOW, WITH A MASTER'’’S, I'’’D DO A 86 00:02:17,237 --> 00:02:18,171 LITTLE BIT BETTER. 87 00:02:18,171 --> 00:02:19,372 >> FOLKS WITH STUDENT LOAN DEBT 88 00:02:19,372 --> 00:02:21,274 TYPICALLY SAVE LESS THAN FOLKS 89 00:02:21,274 --> 00:02:23,109 WITHOUT STUDENT LOAN DEBT. 90 00:02:23,109 --> 00:02:24,077 AND THEN, ONCE THEY'’’RE IN 91 00:02:24,077 --> 00:02:25,578 RETIREMENT, IF THEY ARE REPAYING 92 00:02:25,578 --> 00:02:27,046 LOANS, CERTAINLY THAT IS A 93 00:02:27,046 --> 00:02:28,248 LIABILITY THAT THEY WOULDN'’’T 94 00:02:28,248 --> 00:02:29,749 OTHERWISE HAVE TO PAY FOR WHEN 95 00:02:29,749 --> 00:02:31,050 THEY'’’RE ON A FIXED AND LIMITED 96 00:02:31,050 --> 00:02:31,851 INCOME. 97 00:02:31,851 --> 00:02:32,752 >> Reporter: BECAUSE OF HER DEBT 98 00:02:32,752 --> 00:02:34,187 AND THE HIGH COST OF LIVING IN 99 00:02:34,187 --> 00:02:36,189 BOSTON, PELAEZ SAYS SHE HAS 100 00:02:36,189 --> 00:02:37,924 LITTLE RETIREMENT SAVINGS. 101 00:02:37,924 --> 00:02:39,459 SHE RECENTLY RETIRED BUT CAN'’’T 102 00:02:39,459 --> 00:02:41,261 AFFORD TO KEEP LIVING IN BOSTON, 103 00:02:41,261 --> 00:02:43,096 SO SHE MOVED TO NEW MEXICO, 104 00:02:43,096 --> 00:02:44,397 WHERE IT'’’S CHEAPER TO LIVE. 105 00:02:44,397 --> 00:02:46,132 BUT EVEN STILL, HER EXPECTED 106 00:02:46,132 --> 00:02:48,368 $1,000 A MONTH SOCIAL SECURITY 107 00:02:48,368 --> 00:02:50,603 CHECK WON'’’T COVER HER EXPENSES. 108 00:02:50,603 --> 00:02:52,472 >> RENT WILL BE $620 PLUS 109 00:02:52,472 --> 00:02:55,608 UTILITIES, AND THEN THERE IS THE 110 00:02:55,608 --> 00:02:56,843 SCHOOL LOAN, AND THERE GOES THE 111 00:02:56,843 --> 00:02:58,011 $1,000. 112 00:02:58,011 --> 00:03:00,113 SO, I WILL BE DOING SOME PART- 113 00:03:00,113 --> 00:03:00,914 TIME WORK. 114 00:03:00,914 --> 00:03:01,681 >> Reporter: HOW DO YOU FEEL 115 00:03:01,681 --> 00:03:02,182 ABOUT THAT? 116 00:03:02,182 --> 00:03:02,782 I MEAN, IS THIS WHAT YOU 117 00:03:02,782 --> 00:03:04,284 PICTURED RETIREMENT BEING? 118 00:03:04,284 --> 00:03:04,951 >> WELL, YOU KNOW, AT THIS 119 00:03:04,951 --> 00:03:07,320 POINT, I'’’M NOT SO TERRIBLY 120 00:03:07,320 --> 00:03:08,855 CONCERNED BECAUSE I'’’M STILL 121 00:03:08,855 --> 00:03:10,557 YOUNG ENOUGH TO DO SO. 122 00:03:10,557 --> 00:03:13,726 WHAT CONCERNS ME IS WHEN I'M IN 123 00:03:13,726 --> 00:03:15,995 MY 70s OR 80s-- HOPEFULLY, IF I 124 00:03:15,995 --> 00:03:18,298 IF I GET THERE-- I MAY NOT BE 125 00:03:18,298 --> 00:03:19,299 ABLE TO DO THAT. 126 00:03:19,299 --> 00:03:21,301 >> Reporter: LIKE PELAEZ, 27% OF 127 00:03:21,301 --> 00:03:22,635 OLDER AMERICANS WITH STUDENT 128 00:03:22,635 --> 00:03:24,137 LOANS BORROWED FOR THEIR OWN 129 00:03:24,137 --> 00:03:25,238 EDUCATION. 130 00:03:25,238 --> 00:03:27,574 BUT MOST, MORE THAN 70%, 131 00:03:27,574 --> 00:03:28,975 BORROWED FOR THEIR CHILDREN'’’S OR 132 00:03:28,975 --> 00:03:31,110 GRANDCHILDREN'’’S EDUCATION. 133 00:03:31,110 --> 00:03:33,513 PEOPLE LIKE NANCY KUKAY. 134 00:03:33,513 --> 00:03:35,081 KUKAY, WHO'’’S DIVORCED, TOOK OUT 135 00:03:35,081 --> 00:03:37,951 ABOUT $46,000 IN HER NAME AND 136 00:03:37,951 --> 00:03:40,653 CO-SIGNED FOR AROUND $34,000 137 00:03:40,653 --> 00:03:42,455 MORE WITH HER SON, ANDREW, WHO 138 00:03:42,455 --> 00:03:43,957 GRADUATED FROM THE UNIVERSITY OF 139 00:03:43,957 --> 00:03:46,025 SOUTH CAROLINA IN 2008. 140 00:03:46,025 --> 00:03:48,261 >> I ENTERED INTO THAT, NOW AS 141 00:03:48,261 --> 00:03:50,463 I, IN HINDSIGHT, WITHOUT NEARLY 142 00:03:50,463 --> 00:03:52,632 ENOUGH INFORMATION. 143 00:03:52,632 --> 00:03:55,735 AND DIDN'’’T KNOW WHAT I DIDN'’’T 144 00:03:55,735 --> 00:03:59,939 KNOW ABOUT FINANCIAL AID. 145 00:03:59,939 --> 00:04:02,008 IT'’’S VASTLY DIFFERENT FROM WHEN 146 00:04:02,008 --> 00:04:02,976 I WENT TO SCHOOL. 147 00:04:02,976 --> 00:04:04,444 I DIDN'’’T HAVE TO BORROW TO GO TO 148 00:04:04,444 --> 00:04:05,345 SCHOOL. 149 00:04:05,345 --> 00:04:06,212 >> Reporter: KUKAY OBTAINED 150 00:04:06,212 --> 00:04:08,381 ABOUT HALF OF THE $46,000 SHE 151 00:04:08,381 --> 00:04:09,916 BORROWED FOR HER SON'’’S EDUCATION 152 00:04:09,916 --> 00:04:11,884 THROUGH A FEDERAL LOAN PROGRAM 153 00:04:11,884 --> 00:04:13,653 CALLED "PARENT PLUS." 154 00:04:13,653 --> 00:04:14,654 THE NUMBER OF PARENT PLUS 155 00:04:14,654 --> 00:04:17,023 BORROWERS HAS GROWN BY 60% SINCE 156 00:04:17,023 --> 00:04:20,627 2005 TO 3.5 MILLION AMERICANS. 157 00:04:20,627 --> 00:04:22,328 THE NATIONAL CONSUMER LAW CENTER 158 00:04:22,328 --> 00:04:24,330 SAYS SOME FAMILIES CAN BORROW 159 00:04:24,330 --> 00:04:25,732 MORE THAN THEY CAN AFFORD UNDER 160 00:04:25,732 --> 00:04:27,267 PARENT PLUS BECAUSE THE PROGRAM 161 00:04:27,267 --> 00:04:28,901 LETS THEM BORROW AS MUCH AS THE 162 00:04:28,901 --> 00:04:31,037 COLLEGE SAYS THEY NEED WITHOUT 163 00:04:31,037 --> 00:04:32,705 VERIFYING THEIR INCOME. 164 00:04:32,705 --> 00:04:34,207 >> AT NO POINT IS THE SCHOOL OR 165 00:04:34,207 --> 00:04:35,341 THE FEDERAL GOVERNMENT SEEING IF 166 00:04:35,341 --> 00:04:36,776 THE FAMILY CAN AFFORD TO REPAY 167 00:04:36,776 --> 00:04:37,477 THIS LOAN. 168 00:04:37,477 --> 00:04:38,278 >> Reporter: IS ANYONE ALONG THE 169 00:04:38,278 --> 00:04:40,613 WAY SAYING, "HEY, IF YOU TAKE 170 00:04:40,613 --> 00:04:41,681 OUT THIS AMOUNT OF MONEY, THIS 171 00:04:41,681 --> 00:04:42,615 IS WHAT IT'’’S GOING TO MEAN FOR 172 00:04:42,615 --> 00:04:42,915 YOU"? 173 00:04:42,915 --> 00:04:43,883 IS ANYBODY KIND OF GIVING A 174 00:04:43,883 --> 00:04:45,251 WARNING TO FAMILIES? 175 00:04:45,251 --> 00:04:47,020 >> SO, YOU KNOW, THERE IS SOME 176 00:04:47,020 --> 00:04:49,088 VERY MINIMAL COUNSELING THAT IS 177 00:04:49,088 --> 00:04:51,224 REQUIRED WHEN FOLKS TAKE OUT 178 00:04:51,224 --> 00:04:52,325 FEDERAL LOANS. 179 00:04:52,325 --> 00:04:54,360 THE OTHER COMPONENT IS, A LOT OF 180 00:04:54,360 --> 00:04:56,429 THESE FAMILIES DON'’’T HAVE A LOT 181 00:04:56,429 --> 00:04:57,830 OF OTHER OPTIONS BECAUSE 182 00:04:57,830 --> 00:04:59,232 EDUCATION IS EXPENSIVE. 183 00:04:59,232 --> 00:05:02,201 SO, A LOT OF FAMILIES FEEL 184 00:05:02,201 --> 00:05:03,636 TRAPPED, AND THEY FEEL LIKE THEY 185 00:05:03,636 --> 00:05:04,804 HAVE TO TAKE OUT THIS, BECAUSE 186 00:05:04,804 --> 00:05:06,039 THEY WANT TO PROVIDE FOR THEIR 187 00:05:06,039 --> 00:05:07,106 KIDS AND THEY WANT THEIR KIDS 188 00:05:07,106 --> 00:05:08,041 TO HAVE A BETTER FUTURE. 189 00:05:08,041 --> 00:05:08,841 >> Reporter: AND THAT'’’S EXACTLY 190 00:05:08,841 --> 00:05:10,376 WHAT NANCY KUKAY WANTED FOR HER 191 00:05:10,376 --> 00:05:11,177 SON. 192 00:05:11,177 --> 00:05:12,612 SHE SAYS SHE WASN'’’T TOO WORRIED 193 00:05:12,612 --> 00:05:14,113 ABOUT ANDREW'S ABILITY TO PAY 194 00:05:14,113 --> 00:05:16,182 OFF HIS LOANS ONCE HE GRADUATED. 195 00:05:16,182 --> 00:05:18,418 >> I KEPT TELLING HIM, AND I 196 00:05:18,418 --> 00:05:20,153 THOUGHT THIS WOULD BE TRUE, IS, 197 00:05:20,153 --> 00:05:23,156 "THIS DEGREE WILL GIVE YOU A 198 00:05:23,156 --> 00:05:24,724 CAREER THAT YOU CAN PAY THAT 199 00:05:24,724 --> 00:05:25,692 OFF." 200 00:05:25,692 --> 00:05:28,194 TURNS OUT NOT TO BE THE CASE. 201 00:05:28,194 --> 00:05:30,530 HE GRADUATED IN 2008 IN THE 202 00:05:30,530 --> 00:05:33,132 DEPTHS OF THE GREAT RECESSION, 203 00:05:33,132 --> 00:05:34,934 AND JOBS WERE HARD TO COME BY. 204 00:05:34,934 --> 00:05:35,702 >> Reporter: AFTER GRADUATING 205 00:05:35,702 --> 00:05:36,836 WITH A DEGREE IN SPORTS 206 00:05:36,836 --> 00:05:38,504 MANAGEMENT, ANDREW HAS WORKED 207 00:05:38,504 --> 00:05:40,473 STEADILY, EVEN TAKING ON SECOND 208 00:05:40,473 --> 00:05:41,741 JOBS AT NIGHT AND ON THE 209 00:05:41,741 --> 00:05:42,608 WEEKENDS. 210 00:05:42,608 --> 00:05:43,976 BUT HIS EARNINGS HAVEN'’’T BEEN 211 00:05:43,976 --> 00:05:45,778 ENOUGH TO KEEP UP WITH THE $400 212 00:05:45,778 --> 00:05:47,747 AND $500 PAYMENTS ON THE ROUGHLY 213 00:05:47,747 --> 00:05:50,483 $45,000 HE TOOK OUT, SO NANCY'’’S 214 00:05:50,483 --> 00:05:51,951 BEEN PAYING THE LOANS SHE CO- 215 00:05:51,951 --> 00:05:52,685 SIGNED. 216 00:05:52,685 --> 00:05:54,320 I SPOKE TO ANDREW OVER GOOGLE 217 00:05:54,320 --> 00:05:55,254 HANGOUT. 218 00:05:55,254 --> 00:05:56,255 >> I DID NOT THINK THAT YOU 219 00:05:56,255 --> 00:05:57,323 WOULD BE THIS HARD TO PAY 220 00:05:57,323 --> 00:05:58,858 STUDENT LOANS. 221 00:05:58,858 --> 00:06:00,827 I DEFINITELY WENT IN TO SCHOOL 222 00:06:00,827 --> 00:06:02,495 THINKING THAT I'’’LL GET A DECENT- 223 00:06:02,495 --> 00:06:03,463 PAYING JOB. 224 00:06:03,463 --> 00:06:04,197 >> Reporter: ANDREW RECENTLY 225 00:06:04,197 --> 00:06:06,265 LANDED A HIGHER-PAYING JOB AND 226 00:06:06,265 --> 00:06:07,600 WANTS TO HELP PAY THE LOANS HIS 227 00:06:07,600 --> 00:06:08,868 MOM CO-SIGNED. 228 00:06:08,868 --> 00:06:09,936 >> I DON'’’T WANT HER TO BE 229 00:06:09,936 --> 00:06:11,704 SUFFERING FOR IT ANY LONGER THAN 230 00:06:11,704 --> 00:06:14,340 SHE HAS TO, JUST FOR DOING THE 231 00:06:14,340 --> 00:06:16,976 NICE THING AND CO-SIGNING ON A 232 00:06:16,976 --> 00:06:17,477 LOAN. 233 00:06:17,477 --> 00:06:19,445 WOULD I DO IT ALL OVER AGAIN? 234 00:06:19,445 --> 00:06:21,214 NO. 235 00:06:21,214 --> 00:06:22,448 I WOULD NOT DO IT AGAIN. 236 00:06:22,448 --> 00:06:24,083 I WOULD STICK AROUND AND STAY 237 00:06:24,083 --> 00:06:27,820 HOME FOR A COUPLE OF YEARS AND 238 00:06:27,820 --> 00:06:30,223 GO TO A COMMUNITY COLLEGE NEAR 239 00:06:30,223 --> 00:06:31,257 MY HOUSE. 240 00:06:31,257 --> 00:06:32,024 >> Reporter: IN THE MEANTIME, 241 00:06:32,024 --> 00:06:33,459 NANCY SAYS THE LOAN PAYMENTS 242 00:06:33,459 --> 00:06:35,027 ARE WEIGHING HER DOWN. 243 00:06:35,027 --> 00:06:37,263 >> IT GOVERNS EVERYTHING I DO, 244 00:06:37,263 --> 00:06:39,332 EVERY DECISION I MAKE. 245 00:06:39,332 --> 00:06:42,602 IT ALL REVOLVES AROUND MAKING 246 00:06:42,602 --> 00:06:44,570 SURE THAT I HAVE THAT MONEY TO 247 00:06:44,570 --> 00:06:46,172 MAKE THAT PAYMENT, EVERY SINGLE 248 00:06:46,172 --> 00:06:47,039 MONTH. 249 00:06:47,039 --> 00:06:47,607 >> Reporter: NANCY HAS 250 00:06:47,607 --> 00:07:13,566 CONSOLIDATED AND GOTTEN SLIGHTLY 251 00:07:13,566 --> 00:06:50,710 LOWER INTEREST RATES ON SOME OF 252 00:06:50,710 --> 00:06:52,278 THE LOANS, BUT SHE EXPECTS 253 00:06:52,278 --> 00:06:53,846 SHE'LL NEED TO WORK PART-TIME 254 00:06:53,846 --> 00:06:55,415 AFTER SHE RETIRES. 255 00:06:55,415 --> 00:06:56,482 AND SHE'’’S ALSO CONSIDERING 256 00:06:56,482 --> 00:06:57,984 MOVING TO MONTANA, WHERE THE 257 00:06:57,984 --> 00:06:59,619 COST OF LIVING IS CHEAPER. 258 00:06:59,619 --> 00:07:00,686 >> MY LIFE ISN'’’T GOING TO BE THE 259 00:07:00,686 --> 00:07:01,954 WAY THAT I'’’D HOPED THAT IT WOULD 260 00:07:01,954 --> 00:07:03,689 BE. 261 00:07:03,689 --> 00:07:05,124 IT JUST SIMPLY ISN'’’T GOING TO 262 00:07:05,124 --> 00:07:05,825 BE. 263 00:07:05,825 --> 00:07:06,626 >> Reporter: THERE'’’S ALSO THIS 264 00:07:06,626 --> 00:07:08,628 CATCH WITH FEDERAL LOANS AND 265 00:07:08,628 --> 00:07:10,096 OLDER BORROWERS WHO CAN'’’T PAY 266 00:07:10,096 --> 00:07:11,931 THEM OFF: THE U.S. TREASURY CAN 267 00:07:11,931 --> 00:07:13,366 GARNISH THEIR SOCIAL SECURITY 268 00:07:13,366 --> 00:07:14,367 BENEFITS. 269 00:07:14,367 --> 00:07:17,670 IN FACT, BETWEEN 2002 AND 2015, 270 00:07:17,670 --> 00:07:19,172 THE NUMBER OF AMERICANS HAVING 271 00:07:19,172 --> 00:07:20,840 SOCIAL SECURITY DISABILITY AND 272 00:07:20,840 --> 00:07:22,475 RETIREMENT BENEFITS GARNISHED 273 00:07:22,475 --> 00:07:24,043 BECAUSE OF UNPAID LOANS 274 00:07:24,043 --> 00:07:26,879 INCREASED ALMOST 500%, TO 275 00:07:26,879 --> 00:07:29,182 173,000. 276 00:07:29,182 --> 00:07:30,583 >> WHO DO I GO AND GET THIS 277 00:07:30,583 --> 00:07:31,818 MONEY BACK FROM? 278 00:07:31,818 --> 00:07:32,585 >> Reporter: IT HAPPENED TO 279 00:07:32,585 --> 00:07:34,387 55-YEAR-OLD MANUEL ROBERTS OF 280 00:07:34,387 --> 00:07:35,588 BROOKLYN, NEW YORK. 281 00:07:35,588 --> 00:07:36,989 HE PAID OFF MOST ALL OF THE 282 00:07:36,989 --> 00:07:39,025 $13,000 HE BORROWED TO ATTEND 283 00:07:39,025 --> 00:07:40,026 THE UNIVERSITY OF SOUTHERN 284 00:07:40,026 --> 00:07:41,994 CALIFORNIA IN THE 1980s. 285 00:07:41,994 --> 00:07:43,696 BUT AFTER LOSING A JOB, HE 286 00:07:43,696 --> 00:07:46,299 DEFAULTED ON THE LAST $3,000 287 00:07:46,299 --> 00:07:47,900 AND THEN SUSTAINED A SEVERE HEAD 288 00:07:47,900 --> 00:07:49,669 INJURY IN 2002. 289 00:07:49,669 --> 00:07:52,138 >> THEN, I WAS INJURED. 290 00:07:52,138 --> 00:07:52,972 STREET VIOLENCE. 291 00:07:52,972 --> 00:07:54,240 I WAS A VICTIM OF A VIOLENT 292 00:07:54,240 --> 00:07:56,008 CRIME. 293 00:07:56,008 --> 00:07:58,211 I WAS IN A COMA FOR TWO WEEKS OR 294 00:07:58,211 --> 00:07:58,945 SO. 295 00:07:58,945 --> 00:07:59,645 >> Reporter: ROBERTS RECEIVED 296 00:07:59,645 --> 00:08:01,080 SOCIAL SECURITY DISABILITY 297 00:08:01,080 --> 00:08:03,883 CHECKS FOR $1,300 EVERY MONTH. 298 00:08:03,883 --> 00:08:04,917 BUT THE GOVERNMENT BEGAN 299 00:08:04,917 --> 00:08:07,153 DEDUCTING $200 FROM EVERY CHECK 300 00:08:07,153 --> 00:08:08,654 FOR THE DEFAULTED LOAN. 301 00:08:08,654 --> 00:08:09,722 >> I WAS ALREADY IN A BAD 302 00:08:09,722 --> 00:08:11,424 SITUATION. 303 00:08:11,424 --> 00:08:12,391 IT'’’S PLAIN TO SEE THEY JUST MADE 304 00:08:12,391 --> 00:08:13,426 IT WORSE. 305 00:08:13,426 --> 00:08:14,260 >> Reporter: THE SOCIAL SECURITY 306 00:08:14,260 --> 00:08:15,995 DEDUCTIONS PUSHED ROBERTS TO THE 307 00:08:15,995 --> 00:08:17,363 VERGE OF THE FEDERAL POVERTY 308 00:08:17,363 --> 00:08:18,197 LINE. 309 00:08:18,197 --> 00:08:19,699 IT TURNS OUT, THERE'’’S A PROGRAM 310 00:08:19,699 --> 00:08:21,434 FOR PEOPLE DISABLED LIKE ROBERTS 311 00:08:21,434 --> 00:08:23,236 TO GET THEIR LOANS ELIMINATED, 312 00:08:23,236 --> 00:08:24,704 BUT MANY PEOPLE DON'’’T KNOW ABOUT 313 00:08:24,704 --> 00:08:25,505 IT. 314 00:08:25,505 --> 00:08:27,273 SO, NO ONE EVER SAID, "HEY, WE 315 00:08:27,273 --> 00:08:28,474 NOTICE YOU'’’RE GETTING DISABILITY 316 00:08:28,474 --> 00:08:29,375 INCOME. 317 00:08:29,375 --> 00:08:30,877 YOU MIGHT BE ALSO ELIGIBLE FOR A 318 00:08:30,877 --> 00:08:32,178 DISABILITY DISCHARGE. 319 00:08:32,178 --> 00:08:32,979 THIS COULD STOP"? 320 00:08:32,979 --> 00:08:35,414 >> NO, THAT NEVER... THAT WAS 321 00:08:35,414 --> 00:08:36,849 NEVER BROUGHT TO ME BY ANYBODY. 322 00:08:36,849 --> 00:08:37,783 >> Reporter: ROBERTS'’’ ATTORNEY 323 00:08:37,783 --> 00:08:39,151 HELPED HIM GET THE DISABILITY 324 00:08:39,151 --> 00:08:40,786 DISCHARGE AND IS ALSO HELPING 325 00:08:40,786 --> 00:08:42,421 HIM AND SIX PEOPLE WITH SIMILAR 326 00:08:42,421 --> 00:08:44,156 STORIES SUE THE HEADS OF THE 327 00:08:44,156 --> 00:08:45,925 FEDERAL DEPARTMENT OF EDUCATION, 328 00:08:45,925 --> 00:08:47,527 TREASURY AND THE SOCIAL 329 00:08:47,527 --> 00:08:49,028 SECURITY ADMINISTRATION, 330 00:08:49,028 --> 00:08:50,496 ALLEGING THAT THEY DON'’’T DO 331 00:08:50,496 --> 00:08:51,797 ENOUGH TO LET PEOPLE KNOW ABOUT 332 00:08:51,797 --> 00:08:52,932 THE DISABILITY DISCHARGE 333 00:08:52,932 --> 00:08:53,933 PROGRAM. 334 00:08:53,933 --> 00:08:54,834 THE FEDERAL DEPARTMENT OF 335 00:08:54,834 --> 00:08:56,669 EDUCATION DECLINED AN ON-CAMERA 336 00:08:56,669 --> 00:08:58,304 INTERVIEW WITH PBS NEWSHOUR 337 00:08:58,304 --> 00:09:00,039 WEEKEND AND DID NOT RESPOND TO 338 00:09:00,039 --> 00:09:01,407 WRITTEN QUESTIONS. 339 00:09:01,407 --> 00:09:02,241 THE SOCIAL SECURITY 340 00:09:02,241 --> 00:09:03,876 ADMINISTRATION AND THE TREASURY 341 00:09:03,876 --> 00:09:06,078 DEPARTMENT ALSO DID NOT COMMENT. 342 00:09:06,078 --> 00:09:07,847 U.S. SENATORS RON WYDEN OF 343 00:09:07,847 --> 00:09:10,082 OREGON AND SHERROD BROWN OF OHIO 344 00:09:10,082 --> 00:09:11,584 ARE SPONSORING LEGISLATION TO 345 00:09:11,584 --> 00:09:12,852 ELIMINATE THE PRACTICE OF 346 00:09:12,852 --> 00:09:13,986 GARNISHING SOCIAL SECURITY 347 00:09:13,986 --> 00:09:16,122 BENEFITS FOR UNPAID LOANS, BUT 348 00:09:16,122 --> 00:09:18,157 THE BILL'’’S GONE NOWHERE SO FAR. 349 00:09:18,157 --> 00:09:20,059 NANCY KUKAY'’’S SOCIAL SECURITY 350 00:09:20,059 --> 00:09:21,827 CHECKS WON'T BE AT RISK BECAUSE 351 00:09:21,827 --> 00:09:23,162 SHE KEEPS UP WITH HER MONTHLY 352 00:09:23,162 --> 00:09:24,597 STUDENT LOAN PAYMENTS. 353 00:09:24,597 --> 00:09:26,065 FOR OTHER PARENTS TRYING TO 354 00:09:26,065 --> 00:09:27,166 FIGURE OUT HOW TO PAY FOR 355 00:09:27,166 --> 00:09:29,368 COLLEGE NOW, SHE HAS THIS 356 00:09:29,368 --> 00:09:30,369 ADVICE. 357 00:09:30,369 --> 00:09:32,738 >> I WOULD STRONGLY ENCOURAGE 358 00:09:32,738 --> 00:09:36,943 THEM TO BECOME EDUCATED IN EVERY 359 00:09:36,943 --> 00:09:38,678 ASPECT OF FINANCIAL AID. 360 00:09:38,678 --> 00:09:41,013 TALK TO THE COLLEGE FINANCIAL 361 00:09:41,013 --> 00:09:42,648 AID PEOPLE. 362 00:09:42,648 --> 00:09:44,250 I DIDN'’’T DO THAT. 363 00:09:44,250 --> 00:09:46,018 THAT'’’S A HUGE MISTAKE. 364 00:09:46,018 --> 00:09:48,187 I MADE ASSUMPTIONS THAT TURNED 365 00:09:48,187 --> 00:09:54,727 OUT NOT TO BE TRUE. 366 00:09:50,323 --> 00:09:54,760 AND MINE IS A CAUTIONARY TALE.