How Your Debt Sizes Up To Other Student Loan Borrowers Ages 50 to 61

Generation X is caught in a financial squeeze. Borrowers aged 50 to 61 carry an average student loan balance of $48,203—more than any other age group—even as many Gen Xers also support aging parents and help their own children pay for college.

About 6.4 million federal borrowers fall into this age range, holding a combined $308.5 billion in outstanding student loan debt, according to the Department of Education.

Caught Between Generations, Gen X Struggles to Pay Down Debt

This age group includes most of those in Generation X, who were born between 1965 and 1980. Gen Xers have more than their own education loans to worry about. Many have also taken out Parent PLUS loans to help their kids afford college. Over the past decade, the total balance of Parent PLUS loans for all age groups has increased by about 63%, according to Department of Education data.

Gen X holds the second-highest delinquency rate, behind only borrowers ages 40 to 49, according to data from the Federal Reserve Bank of New York. As of the first quarter of 2025, about a quarter (26%) of all student loan borrowers ages 50 to 59 were delinquent, meaning they had missed payments for more than 90 days.

In 2025, about 20% of the loan balances held by borrowers 50 and up were in transition to serious delinquency, the most of any generation.

Struggling Borrowers Still Have Strategies To Recover

Although many borrowers aged 50 to 61 are struggling to repay their loans, they still have options to keep their loans in good standing before they default.

Delinquent borrowers can switch to a cheaper repayment plan. The Federal Student Aid Loan Simulator allows borrowers to compare repayment plans and see if an income-driven repayment plan or an extended standard plan can help them afford their monthly payments.

Under any repayment plan, borrowers can request forbearance or deferment from their loan servicer to pause payments.

Borrowers in default—those who haven’t paid in over 270 days—have time before the Department of Education begins garnishing their wages. Depending on their circumstances, they can apply for loan consolidation or loan rehabilitation to bring their loan current and resume payments.