Seniors suffer with record student debt

The New York Post reports:

Baby boomers are sinking in a surprising sea of debt — on their student loans. They are the latest victims in the $1 trillion student-debt crisis. And it’s wiping out their retirement plans and taking big bites out of their Social Security checks. According to the New York Federal Reserve, 12.5 percent of student loans made to borrowers ages 60 and over are more than 90 days delinquent. And seniors can forget about any refunds on their federal tax returns — because Uncle Sam can confiscate those as well to cover their loan debt. More than 2 million senior Americans now face student-loan debt.

The great moments of the welfare state.