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Student Loan Debt Has Nearly Tripled (npr.org)
An anonymous reader shares a report: Recent college graduates who borrow are leaving school with an average of $34,000 in student loans. That's up from $20,000 just 10 years ago, according to a new analysis from the Federal Reserve Bank of New York. In that report, out this week, the New York Fed took a careful look at the relationship between debt and homeownership. For people aged 30 to 36, the analysis shows having any student debt significantly hurts your chances of buying a home, compared to college graduates with no debt. The cliche of "good debt" notwithstanding, the consequences of borrowing are real, and they are lasting. The report paints a mixed picture of how student borrowing has evolved over the last decade, since the financial crisis. There are some bright spots: For example, student loan defaults peaked five years ago and have declined ever since. And repayment seems to have slowed down among high-balance borrowers -- those who owe $75,000 or more. Meaning, after 10 years, they have paid down only one-quarter to one-third of what they owe.
Baby boomers were born after WWII. A world war 2 vet now is in ther 90's
I suggest you look at the 45-70 year old crowd for fiscal itresponsibility. You know the same group that voted for Trump.
This group is under funded and spent not only the surpluses of their parents (ww2generatipn) but the future of their kids and grand kids
i thought once I was found, but it was only a dream.
The same group that voted for Trump in the US and Brexit in Britain. In both cases you have a bunch of self-entitled arseholes who literally had the world handed to them on a golden platter and either are ignorant of the woes of the younger generations, or actively despise the younger generations.
The world's burning. Moped Jesus spotted on I50. Details at 11.
I'm not even German and even I'm aware of the caveat that the German system requires you to be on the "correct" academic track from the time that you're about 10 years old in order to have a shot at "free" university. And if you don't make the cut, then tough shit you ain't going to college no matter what you do.
If you tried to do that crap in the U.S. it'd be quickly labeled racist/sexist/ableist/intelligentist/whatever-ist. So naturally we get any person with enough brain cells to rub together to make it through the public school system fielding applications to whatever college they want.
U.S. college costs would be much more under control if colleges hadn't been effectively stripped by the federal governemnt of the ability to tell students "sorry, you're too stupid to go to college". Nope, instead they just load 'em up with federally-backed loans and send them on their way to have a "college experience"