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Older Americans are the fastest-growing group in the student loan market and nearly 40 percent of borrowers over 65 were in default in 2015, according to a Consumer Financial Protection Bureau report released Thursday.

Many older borrowers take out student loans or co-sign loans on behalf of children or grandchildren, but they struggle to repay student loan debt along with other expenses. And servicing problems create challenges enrolling in income-based repayment programs created to lower the financial burden of loan debt, the report says.

The CFPB report is based on complaints from older borrowers with both private and federal student loans.

A report released by the Government Accountability Office last month showed that many older student loan borrowers were having Social Security benefits withheld by the federal government to offset defaulted student loan debt.