The Cost Of Student Debt

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Getting a higher education degree — whether it's an Associate's, a Bachelor's, or something else — increases your earning potential over your life. But going to school is expensive, and Americans have more than $1.5 trillion worth of outstanding student debt. That debt isn't exclusively held by the students: people over 60 are the fastest-growing segment of student loan borrowers, as parents and grandparents are increasingly taking out loans to help their kids and grandkids go to college.

Jill Schlesinger, CFP and author of "The Dumb Things Smart People Do With Their Money," joins to talk student debt and look at how parents and grandparents can talk to their kids about college without sacrificing their own financial futures.

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