Friday, December 12, 2014

For Millions Of Millennials: Some College, No Degree, Lots Of Debt - Selena Simons-Duffin, NPR

More than 40 percent of households headed by young adults with some college are dealing with student loans. And without the increased earnings that usually come with a college degree, managing even just a few thousand dollars in loans can be a huge challenge. Richard Fry, a senior researcher at the Pew Research Center, says the real impact of student loans for those with no degree isn't even on how much money they make — it's on their overall wealth. "The 'some college educated' household that doesn't have the student debt? Their net worth is about $10,000, $11,000," he says. "As opposed to that, for the ones that are still sort of servicing their student debt? They have a net worth of about a grand. So you're looking at about a tenfold difference." http://www.npr.org/2014/11/19/362802610/for-millions-of-millennials-some-college-no-degree-lots-of-debt

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