The economy is pushing a growing number of baby boomers back to college, according to a recent Smart Money article.
Students ages 50 to 64 increased 17 percent between fall 2007 and fall 2009, according to the latest data available from the National Center for Education Statistics, the article said. Further, colleges have lured those individuals with programs specifically designed for older students. For instance, the American Association of Community Colleges launched its “Plus 50 Initiative” on 15 campuses in 2008 and has since expanded to 21.
More than half of unemployed workers ages 55 and older have been unemployed for six months or more, compared to 40 percent of workers under 55, the article reported on the most recent Bureau of Labor Statistics data. Further, the average unemployed worker over 55 years old spends more than 52 weeks looking for a job, which is nearly 50 percent longer than younger workers.
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