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Tuesday, August 21, 2018

Student Loans Are Starting To Bite The Economy

It’s that time of year, when students prepare to head back to the classroom. For many taking the next step in higher education, the question is increasingly, “Is it worth it?” Millions of millennials have already put off settling down because of the rising costs of servicing college debts to the detriment of economic growth.

Student loans are now the second-largest category of household debt in America, topping $1.4 trillion and trailing only mortgages at $9 trillion. And while Korn Ferry puts the average starting salary for a 2018 college graduate at $50,390, up 2.8 percent from 2017, the just-released July Consumer Price Index report shows the inflation rate rose 2.9 percent over the last 12 months. Does the phrase “treading water” come to mind?



Anonymous said...

It's like a really heavy downpour on your boat and the bilge pump ain't workin'. Just a matter of time before you sink.

Anonymous said...

When I had worked 15 years on my job I was halfway to retirement,so I couldn't see quitting.Young people get halfway through college and quitting is not an option,even if their degree won't get them a decent job.So then they go ahead and rack up the 2nd half expense just to say they finished.I don't feel a bit sorry for them.

Anonymous said...

People have to start asking: why does college cost so damn much?! Until they do, colleges will keep charging more.

Anonymous said...

Not every one goes to college on a loan. Some go to college FREE. Paid for by the parents of the kids who had to get a loan to go to college.