07/11/2014 11:01 am ET Updated Jul 11, 2014

Many Over 50 Still Saddled With Student Loans

sturti via Getty Images

Lingering student-loan debt — which in recent years has been a drag on the economy as borrowers delay big-ticket purchases such as homes and cars — is beginning to affect millions of people as they head toward retirement.

More than 16 percent of the nearly $1.2 trillion in outstanding student-loan debt in the nation is held by people over 50, according to the New York Federal Reserve Bank.

Read more on The Network Journal