Student Loans Are More than Just a 20-Something Issue (VIDEO)
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United States of Aging Survey Reveals Optimistic Boomers and Seniors
Courtesy NCOA
The National Council on Aging (NCOA) in conjunction with United Healthcare sponsored a survey conducted by Penn Schoen Berland that included 2,250 U.S. adults aged 60 and older who shared their perspectives on their own individual readiness for aging as well as their perceptions of their communityÛªs resources for senior residents. Top line results reveal that:
- Seniors and baby boomers expect their lives to improve as they grow older.
- A significant minority of respondents feel less secure: about one in four report trouble with current monthly living expenses; one-third say they will not be able to afford future long-term care services; and 72% of those who make less than $30,000 per year live with a chronic health condition.
- Perceptions of community services for older Americans vary; boomers are less confident than older respondents that their community will provide the services they need to maintain health and independence.
Financial Security
The majority of older Americans (64 percent) report that it is very or somewhat easy to pay their monthly living expenses now, but almost one in four (24 percent) are not confident that their income will be sufficient to continue to meet their monthly expenses over the next five to 10 years.
Caregiving
Half of older Americans report having someone they consider to be a caregiver in their lives. Close to one-third (28 percent) of seniors say they serve as a caregiver for someone else.
Aging in Place
Nine in 10 seniors intend to continue living in their current homes over the next five to 10 years. Finances also play a role in this decision. The vast majority of all age groups report high levels of confidence that they will be able to stay in their homes without having to make any significant home modifications.
Community Resources and Support
While more than half (56 percent) of all seniors surveyed report that they are satisfied with the resources and services their community offers now, almost one quarter (23 percent) have little or no confidence that these resources will be available over the next five to 10 years.
Health and Wellness
Older Americans are optimistic about their health and say they are healthier than ever. More than three in four seniors aged 60 to 69 expect their quality of life to stay the same or get better over the next five to 10 years. More than eight in 10 agree with the statement, Û¥I have a strong sense of purpose and passion about my life and my future. A large majority of older Americans give themselves high marks when it comes to maintaining their physical and mental health. Ninety-two percent report that they manage their stress levels well.
What do you think? It struck me as an overly optimistic public that was somewhat in denial of just what it will take to age.
AHCA Announces Quality Award Winners
The American Health Care Association (AHCA), one organization that represents nursing and assisted living providers, announced their quality award winners last month at their annual convention.åÊ
AHCA’s National Quality Award Program is based on the core values and criteria of the Baldrige National Quality Award Program. I am linking you to my about.com blog on this. It is important for consumers to weigh all available data when choosing a provider for a loved one or themselves. Quality award winners certainly deserve a look. So take a look now!
Student Loans Are More than Just a 20-Something Issue
The following is a guest post from Aniya Wells:
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The “student loan crisis” has been storming the headlines. With recent graduates breaking records for having the largest amount of student loan debt to their names, there’s good cause for all the interest in the story. That being said, for most of us when we hear the phrase “student loan debt” we think of 20-something college students in their first professional jobs and frenzied graduate students working to pay off their thousands of dollars in debt.åÊ
I’m going to go out on the limb and say that people in their 60s and 70s struggling to pay off student debt is likely not the image that comes to mindÛÓmaybe it should be.
Recent research from the Federal Reserve Bank of New York shows that Americans of retirement age, 60 and older, still own billions in student loans. This statistic opens up an interesting dynamic between the relationship of student debt and social securityÛÓa dynamic most of us would have thought never occurred. While, of course, the younger generation is still taking the brunt of the beating when it comes to student loan debt and payments, senior citizens in today’s society are facing serious struggles with it as well.
This research from the Federal Reserve Bank of New York shows that:
- Americans 60 and older account for five percent of delinquent student loans.
åÊ - More than a few cases have cropped up where senior citizens in their 80s are being harassed by borrowers over student loan debt that is decades old. Many of these cases involve debt that was incurred when adults went back to school at a later point in their lives and other cases were because loans were co-signed on by parents for their children.
While this phenomenon is interesting and noteworthy in and of itself, it raises bigger questions and concerns. The mere fact that student loan debt continues to plague senior citizens demonstrates the severity of the issue.
The issue is a grand and worrisome one. The long time commodity of a college degree is no longer without its risk. Where at one time a college education was solely considered a strong investment for any individual, today is now saddled with the potential for unbridled debt and no promise of a high-paying career. The focus as of late, has been put on 20-somethings struggling to land satisfying careers in an injured job market and unable to pay of exorbitant college debt.åÊ
That focus can (and should) now be stretched with a simultaneous focus on aging first-time grandparents forced out of retirement to try to pay off their seemingly-unending debt for the college degree they earned decades prior. At the very least, this broadened view can broaden our interest in the topic and encourage our lawmakers and politicians to more properly address the constantly growing issue.
A freelance blogger and writer for Onlinedegreeprograms.com blog, Aniya is passionate about giving potential students advice as they embark on an online or traditional degree program. Please direct questions or comments to aniyawells@gmail.com
Medicare Website Overhaul
Medicare beneficiaries now can research nursing homes and determine their coverage options from their smartphones or tablets, thanks to a Medicare website redesign.
The Centers for Medicare & Medicaid Services said it spent two years researching user trends of its notoriously difficult-to-navigate website in order to make it easier for beneficiaries, providers, caregivers and families to access. CMS also upgraded Nursing Home Compare and Hospital Compare this summer.
Upgrades to the site allow beneficiaries to search: whether a specific test, item, or service is covered under original Medicare; customized information based on a beneficiary’s specific situation; and quick links to replacing a lost Medicare card, finding a Medicare Advantage or prescription drug plan and getting help with healthcare costs.
Click here to visit the overhauled site, and here for a tutorial on the upgrades.
The Centers for Medicare & Medicaid Services said it spent two years researching user trends of its notoriously difficult-to-navigate website in order to make it easier for beneficiaries, providers, caregivers and families to access. CMS also upgraded Nursing Home Compare and Hospital Compare this summer.
Upgrades to the site allow beneficiaries to search: whether a specific test, item, or service is covered under original Medicare; customized information based on a beneficiary’s specific situation; and quick links to replacing a lost Medicare card, finding a Medicare Advantage or prescription drug plan and getting help with healthcare costs.
Click here to visit the overhauled site, and here for a tutorial on the upgrades.
Source: McKnight’s
