It's easy to think of student debt as a younger person's problem. But Americans aged 50 and over actually account for about 22% of outstanding student loan debt in the U.S., says AARP.

And it's easy to see why older Americans wind up saddled with debt. Many extend their student loan payments or refinance their loans repeatedly in an effort to shrink their monthly payments, all the while sentencing themselves to years and years of having that debt hang over their heads.

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Source Fool.com