Question: Our grandson just graduated from college with $45,000 in debt. I want to pay off his student loans, but my husband says we can't afford it. We're 73-year-old retirees with $2.1 million and $4,000 a month in Social Security that covers most of our bills. Who's right?
Answer: You'll often hear that college graduates are drowning in debt. That may not be true for everyone, but the average student loan debt, including private loans, may be as high as $42,673 today, reports the Education Data Initiative.
