With the student loan crisis showing no signs of improvement, there's little to no light at the end of the tunnel for America's debt-ridden graduates. As Statista's Niall McCarthy notes, The National Association of Realtors say 45 million people across the U.S. are carrying student debt with a fifth of them owing $100,000 plus. Unsurprisingly, that is impacting home ownership and the Realtors say that 83 percent of people aged 22 to 35 who have not purchased a home blame their student debt.
The Northeast of the country is the worst affected and according to a CNBC report, 75 percent of New Hampshire's graduates carry outstanding debt, the worst in the country, with the average amount owed $36,367. Utah has the lowest rate of debt and graduates there owe an average of $20,000.
The following infographic shows how third-level education in the U.S. has gone from being a dream to being a "debt sentence" for millions of American students.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
Student loans will end up bankrupting the country, or at least limit when parents' and students can retire.
It is the nations largest PONZI scheme. A real flim-flam shell game.
Laws are made in America to protect corporations not the American people. Nothing will change until that does. It is unlikely empathy will overcome greed.
Many lawmakers, their family, friends and donors make big bucks from predatory loans.
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