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know a great deal about how the benefits actually work senior personal finance correspondent sharon eppersonoins us now with more sharon, what are many so of the common myths about social security i mean, a lot of people think it's best to claim social security early for benefits. >> a lot of people think i've worked hard. i need to get my social security as soon as i can because it's my money, and the earliest that you can claim social security is at age 62 more than a third of americans actually claim it at 62. 34%, according to the social security administration, and 57% claim it early to find out what your full retirement age is, you need to go to ssa.gov. it's based on when you born, and it's not what most people think may be the retirement age. you need to real check it out. >> interesting another one you should claim your benefits at 65. people think that's the ideal retirement age does the social security administration agree with that >> not for many people working today. for many people working today the current full retirement age is 66 or 67. 65 is the age that you need to look a

parents who may take on larger loans than their children senior personal finance correspondent sharon epperson is here with more and tips for you and your college bound kid, that's a staggering number >> it is a staggering number >> let's talk about this your family has already received the financial aid plan you know what you're getting and what you have to put up. at that point, what can you do >> there's a lot that you can do more than 40% of families borrow money to send their children to college according to sally mae the number students are borrowing where student debt stood in 2015-2016, the latest data available it was over $29,000, close to $30,000. for parents though it was over $32,000. >> gosh. >> saving for college in a recent analysis they expect those numbers to climb, while student debt will climb just a little bit, maybe a couple hundred dollars for this current upcoming school year, anticipating parents college debt will be $37,000 we're talking more than 9% increase there over that period of time. >> so what do you do, if you're trying to tackle that number >> you have to kn